it going bankcrupt the right thing to do

fiveyearplan

IS the car on HP?

Queen

No, on parkers guide worth £3000 private sale in good condition

betterlatethannever

Hi Queen,
Its likely the OR will want the car, i'm afraid. They will allow you some money back though to buy a cheaper car, so all is not lost.

Cars and ORs is always a dodgy area as there is a huge amount of inconsistancy. I'm afraid it will be a wait and see situation.

Queen

Hi I have been told that they allow you upto £3000 approx

betterlatethannever

Hi Queen, the OR doesn't seem to have a specific 'allow' level and as i said, theres a lot of inconsistancy.

You may be lucky and get to keep the car, i really couldn't say for sure, but going by previous posts over the last year, a car valued at 3K would 'highly likely' be taken by the OR who would then allow you some money back to buy another car of lesser value.

I've seen ORs want cars of less value than £200 in the past, then others that allow cars of much higher value

Sorry, but its best to be prepared.

Queen

thanks for your advice, will think about this over the weekend if going BR is the best solution to our problems

Many Thanks

tigerfeet2006

Have a read of these links from Fermi's links sticky at the top of the board.



Cars and bankruptcy.

What will happen to my car? (MSE)

OR's Case Help manual - Motor Vehicles (March 2007)

Queen

spoke to my boss work for financial advisor who advised that going BR is probably the best way forward, worrried about try to get the fee's of approx £1200 don't have that kind of money or we could reduce some of out debt, worried the car we need this to get to work and school, school is a bout 2 1/2 miles away no direct bus and taxi would cost a fortune, car is worth £2500 - £2,900 by parkers guide with the OR make us sell this and get a cheaper one

Queen

Does anybody know that if I go BR will they sell my car value on parkers guide £2500 - £2900 top price we need for work and school run etc, as the value is the limit will they sell this, also if they do will they give us the option to put the extra from the limit they alow and keep the car

tigerfeet2006

The OR will send the car to auction to get any thing they can for it even £100.

Unfortunatly no one can say "Yes you will be able to keep the car" or "no it will be sold". As what one OR will say and do another won't. Unfortunatly it is one of the variations in the OR service :mad: