My husband and I both are going bankrupt and have a date for November. We have the problem of having a car worth over £3000 (approx £3500). We have three kids and it is a kia sedona. We got a bigger car to fit all the seats and their stuff in, but the CAB have told us we won’t be able to keep it. I am now worried though as the car is playing up and needs some work done which i think may cost a fortune. I dont want to pay for work done if the car will be taken off us, but our court date isn't until november. I was thinking of selling this car, buying a car for around £2000 (would we be able to keep this?) and using the rest for bankruptcy fees. My husband however thinks that the OR will come down heavy on us for doing this and that we will be penaliased. Anyone any advice? Also can anyone advice what to do about mobile broadband contracts. I took out a mobile broadband contract with tmobile about 4 months ago. It was a 24 month contract with a free laptop and dongle. The reception is really terrible and keeps disconnecting from the internet. I thought if i was to include it in the bankruptcy I would be £35 a month better off, but i dont know if i am able to do this. I would have no problem giving the laptop back (would I be asked to do this?) but dont know where i stand.
A car with a value of £3500 would be taken by the OR. There is nothing wrong with selling this and getting one for £2k but the OR would expect you to pay the other £1500 to either your creditors or to the OR. If the only way you could save up for the BR fees is to use it out of the £1500 then that is what you should do but most people stop paying their creditors a few months in advance and use this money for the fees.
I've answered your mobile broadband question in your other post.
hi me and my husband both have cars mine is worth about £2000 and i got to keep mine due to work .my husbands car is worth around £3300 and he also got to keep his car as he needed it for work he works nights and im not back from work when he goes so he cant borrow mine .
do u need ur car for work ? if so depending on if u have a nice O.R u might even be lucky like us and get to keep it.
My husband and I both are going bankrupt
Posted - 06 September 2009 : 18:34:58
