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kelly-v
Starting Member
35 Posts |
 Posted - 03 September 2009 : 09:41:08
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i am a little concerned after reading some infomation about my car.
it has a low value of £2000 so i thought it would be safe, however i do not work as i am a full time mother to a 2 year old and live on a farm so public transport is not easily accessable, could they take my car from me?? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 03 September 2009 : 09:52:12
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| If the OR deems that you don't need a car then they can take it regardless of the value. If you want to keep the car then you should make a case than public transport can't meet your needs i.e. the expense, no regular bus services if you live in the country, no buses for appointments you need to attend, etc. |
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veale_kelly24
Starting Member
20 Posts |
Posted - 03 September 2009 : 11:05:34
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| the car was actually bought for us with a loan that my parents took out for us, we pay the loan every month but could we deem that that car doesnt belong to us? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 03 September 2009 : 12:39:54
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| The owner of the car isn't always the person listed on the V5 registration form. Do you pay your parents and then they pay the loan company or are your parents the guarantors of the loan? |
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veale_kelly24
Starting Member
20 Posts |
Posted - 03 September 2009 : 13:18:10
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| the loan is in my parents name. it is direct debited out of my mums account and we have a direct debit to my mums account to pay for the loan |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 03 September 2009 : 14:01:56
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Ok, that's good. If your parents, or you, have the receipt from the person/garage they bought the car off then they would be considered the owners of the car and you have access to it.
If you don't have the receipt then you should still be able to show the OR that your parents bought the car.
The only problem may be that the OR won't allow you to put down the loan repayment as one of your outgoings as the loan is in your parents name so nothing to do with you. You could still pay the amount out of any disposable income though. |
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veale_kelly24
Starting Member
20 Posts |
Posted - 03 September 2009 : 18:40:25
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what do i put on the forms regarding this matter, do i say that we own the vehicle or my parents?
section 4 asks for details about motor vehicles |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 03 September 2009 : 19:15:31
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If you are going to make the case that the car is owned by your parents, which from what you said it is, then you should put the car details in Section 3.9. This section asks 'Do you have the use of a motor vehicle that you do not own?' so put the details in there.
Section 3.7 asks whether you own a motor vehicle or have disposed of one in the last 12 months. Unless you have sold a car within the last year you can put 'no' here.
When you have the OR's interview just mention that the car is owned by your parents as they purchased the car but your name is on the V5 registration document as you are the primary user of the car. |
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Jane.l
Average Member
511 Posts |
Posted - 04 September 2009 : 08:25:40
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| yes, it seems as though you have use of your parent's car, but I cannot see you being allowed to continue paying them for it once bankrupt |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 04 September 2009 : 08:45:04
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did your parents borrow money, give the money to you and you purchase the car or did they borrow money and they purchased the car and let you use it?
If they gave you the money to buy the car then they are creditors as they let you borrow money and the car is yours.
Depending on how much the monthly repayment is ( I assume less than £100 ) could be another probelm
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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veale_kelly24
Starting Member
20 Posts |
Posted - 04 September 2009 : 08:45:17
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| why? i am not going to be putting it in income and expenditure figures, i will pay them out of my disposable income |
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veale_kelly24
Starting Member
20 Posts |
Posted - 04 September 2009 : 08:48:04
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my parents borrowed the money and gave it to us, could we say that they bought the car and we use it??
the repayments are £100 per month |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 04 September 2009 : 09:12:02
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hi
if your parents borrowed the money and gave it to you then they would unfortunately be treated the same as another creditor - in that you owe them £2000 and repay this debt at £100 per month.
The car is then legally yours and you would need to put a VERY STRONG case to be able to retain the car in order to keep it.
Usually the Official Receiver looks at the need for a car to attend work, or I have seen people keep the car whils looking for work but they have needed to demonstrate job applications, interviews etc etc .
I haven't yet seen anyone keep a car because they need it for parenting duties.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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veale_kelly24
Starting Member
20 Posts |
Posted - 04 September 2009 : 09:30:07
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| could i not say that they purchased the car and we use it then? |
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Daniel Griffiths
Junior Member
United Kingdom
268 Posts |
Posted - 04 September 2009 : 10:46:22
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| If the loan is in your parents name then there is no issue here at all whether you use the vehicle or not is your parents business not the ORs. You simply put down you use a vehicle in section 3.9 and put the parents down as owners. If you can demonstrate you need a vehicle for work an allowance will be given for the running of the vehicle, if you dont work and still use the vehicle then no allowance will be given for IPA purposes |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 04 September 2009 : 11:10:44
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Hi Daniel
From the previous posts it seems that the parents have taken out a loan, given the money to kelly and she has then subsequently purchased a car.
additionally kelly has stated that she doesn;t work but is a full time mum.
Therefore I suggest that the OR would view the car as bellonging to Kelly, it would be at risk from the OR and Kelly's parents would be seen as creditors.
Kelly - Depending upon when you stopped paying other creditors but continued to pay your Dad for the car loan will potentially mean that the OR will view repaying dad as a preferred creditor and they may ask them for the repayments back.
I would really suggest you speak to the forum helpline or a site expert to go over the full picture carefully.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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Topic |
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concerned after reading some infomation about my car
