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cat
Junior Member
201 Posts |
 Posted - 19 May 2008 : 22:33:58
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My mum has just got her divorce money and is going to buy me and the family a much needed new car for £5000 but as i have to file for bankruptcy asap do we put the car in my mums name or my partners and i just insure it? My partner is not going bankrupt but we live together with our 3 children. We are both on living on benefits.
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melanie_giles
Senior Member
1191 Posts |
Posted - 19 May 2008 : 22:55:44
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Hi cat and welcome to the forum
I suggest that if your Mum is going to buy you a car to use, she leaves it in her name and then allows you access to it when you need to use it. Once you are discharged from bankruptcy, the vehicle can be transferred into your name.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 20 May 2008 : 09:44:17
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Hi Cat,
I agree with Melanie leave the car registered to your Mother until your discharge this way it will not raise any questions in your Bankruptcy.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 20 May 2008 : 13:38:22
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Hi cat,
I agree! I drive my husband's car and my examiner was very quizzy about whose car it really was.
She wanted to know who paid for fuel, who insured it etc. I had to make it very clear it was definately my husband's car, in his name, his insurance, his responsibility.
Vicki x |
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cat
Junior Member
201 Posts |
Posted - 20 May 2008 : 18:23:45
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So let me get this straight, if i put the car in my mum's name and my partner insures in with me as a named driver that should be ok? or can i insure it as the main driver? We'll obviously have to keep the car at our address, will this be a problem?
Also (sorry to be a pain!) ive filled in most of the br papers and as i dont have the new car yet but use my partners car which i have insurance for, do i put down that i use my partners car which is registered to him and its only worth about £400 tops? (honestly) Then after i declare myself br do i have to tell the or about the new car?
THanks x |
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melanie_giles
Senior Member
1191 Posts |
Posted - 20 May 2008 : 19:47:00
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It will probably be better for your Mum to take out the insurance with you as a named driver as well, as insurance companies may be reluctant to insure a car that you do not own.
Declare the current car that you are using on the forms, and thereafter there is no need to advise the OR of your Mum's car.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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cat
Junior Member
201 Posts |
Posted - 20 May 2008 : 20:15:17
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| I insure my partners car at the moment so didnt think they'd be a problem insuring it if my mum owns it. Can my partner not put the car in his name and have me as a named driver? We have one joint debt which is an overdraft but everything else is in my name. If he owns the car and the car insurance comes out of his bank account wont that be ok? I'll still have car insurance in my name for the other car he owns, which comes out of my bank. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 20 May 2008 : 20:17:59
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If that works for you, and the insurance company accept the proposal, no problems!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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cat
Junior Member
201 Posts |
Posted - 21 May 2008 : 11:08:56
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So do you think i could just put the car in my partners name with him insuring it with me as a named driver?
Thanks all for your help! |
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storm
Junior Member
United Kingdom
232 Posts |
Posted - 21 May 2008 : 11:14:43
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I would put the car in your partners name and he insures it with you as named driver.
If you put it in your name you run the risk of the OR selling it as it is over the value of what you are entitled to (£2000 - £2500)
You will have to have any receipts for the purchase of the vehicle either in your husbands name or even better your mums name if she is funding the vehicle for you. |
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cat
Junior Member
201 Posts |
Posted - 21 May 2008 : 12:19:47
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Well my mum is buying us the car so the receipt will be in her name. The insurance quotes ive had with my mum as the owner and my partner insuring it with me as named driver have been really high so think i will put car in partners name with him insuring it with me as named driver. And mum as purchasing the car.
THanks for all the advice. I hope i dont lose the £5000 car, mum wont be happy!!
Does anyone know how long to wait after phoning for appointment and actually going to court to be made br?
Thanks xx |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 21 May 2008 : 13:12:38
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Hi Cat,
That really depends on your local county court and how busy they are, give them a call and they will let you know the timescales.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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vikivk
Junior Member
United Kingdom
194 Posts |
Posted - 21 May 2008 : 16:44:12
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Cat,
Anyone can be a named driver for up to 2 years without losing their no claims discount so i would have Mum be the main driver and you as a named driver but still drive it everywhere. Once your discharged, change your policy over.
Viki
Things can only get better... |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 21 May 2008 : 17:04:23
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Yes I would do it that way as well. Not worth the hassle of getting the OR involved.
Viki - I didn't realise your no claims is safe for two years I thought it was just a year - that's handy to know.
Vicki x |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 22 May 2008 : 10:17:57
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Hi Cat,
I agree if your mother is paying for the car I would keep it registered to her.
If she then insures it and adds you as a named driver this will be far more secure as far as your Bankruptcy is concerned as there is evidence of your mother purchasing the car, registering and insuring it.
If you were to register this in your partners name he will then have two cars registered to him which could raise questions.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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cat
Junior Member
201 Posts |
Posted - 22 May 2008 : 22:27:50
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| I understand what your saying Julian but i thought the OR wont look into my partners finances? He's not going bankrupt so i thought as long as he's the registered keeper and insures it with me as a named driver and has insurance payments coming out of his bank account it should be OK? My mum will havea receipt proving she bought the car. Thanks |
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Topic |
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do we put car in my mums name
