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Posted: Tue Sep 04, 2007 7:44 pm
by katy
We have our bankruptcy appointment on Monday and am thinking ahead to our OR appointment. My sister-in-laws name is still on the log book for our car (which incidentally is worth £400 max)so in effect she still owns it. Will the OR still try and take it away from us? We live in the sticks with absolutely no public transport and need a car.
Many thanks in advance
Katy
Posted: Tue Sep 04, 2007 9:40 pm
by MelanieGiles
Hi Katy
I am sure that a car of such low value will be exempted from the bankruptcy, especially if it is still registered in your sister's name. Worry no more!
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To appoint me as your IP visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Wed Sep 05, 2007 8:13 am
by veekay
When I went Bankrupt I had a car on credit, I was told you are allowed a car for transport but only up to the value of £2999, mine was worth (according to them) exactly £3000 so unless I carried on the payments outside the BR then it would be taken away!! (mean people [:(] ) It was taken away becuase I wanted to start afresh so I bought a car worth £750 and it was under my name for insurance purposes and my OR had no problem with this. I cannot see you having a problem.
what is this world coming to???
Posted: Wed Sep 05, 2007 9:34 am
by katy
Thanks guys, getting panicky about just about everything at the moment. I just hope they don't go pestering my sister-in-law and she finds out about what is happening. Sorry about your troubles Veekay, at least this car is your own now.
Posted: Wed Sep 05, 2007 9:43 am
by iva experts
Hi Katy,
As the car is in your sister-in-laws name, it is therefore not an asset of yours so I wouldn't think the OR would go after it. Especially as you so desperately need the use of your car. The only problem you would face is if it was originally your car which you gave to your sister-in-law etc.
Best Regards. IVA Experts
Posted: Wed Sep 05, 2007 9:49 am
by katy
We had a bit of a musical cars situation in the family when a couple of them didn't pass MOT's and we ended up with this, haven't got round to changing the names over as yet. So she gave it to us.
Thanks for your help
