bankruptcy and vehicle keeper/owner

davieboy

i should be able to declare myself bankrupt under the new registration (in Scotland) as i have low earnings and assets of less than 10k with nothing individually greater than 1k, but!

i am the registered keeper of a vehicle which my stepfather bought. i am the sole user of the vehicle but don't own it. my local money advice centre seem to think that as i am the registered keeper there is inferred ownership yet i don't own the vehicle. Does anyone have any experience or knowledge of this? The vehicle is worth about 3.5k

peachyprice

I don't know how it is in Scotland, but in England if you can prove, by way of receipt, that someone else owns the car it cannot be seized. It still goes on the form, but under a bit that asks if you have use of a vehicle owned by someone else.

In our case I am the registered keeper for both our cars (for insurance purposes) but my OH bought his car, both were exempt. If I had owned both we would only have been allowed to keep one.

Here2Help

davieboy wrote: »

i should be able to declare myself bankrupt under the new registration (in Scotland) as i have low earnings and assets of less than 10k with nothing individually greater than 1k, but!

i am the registered keeper of a vehicle which my stepfather bought. i am the sole user of the vehicle but don't own it. my local money advice centre seem to think that as i am the registered keeper there is inferred ownership yet i don't own the vehicle. Does anyone have any experience or knowledge of this? The vehicle is worth about 3.5k

If you can prove that someone else owns the vehicle, the trustee will not have an interest in it. However, the onus will be on you/your stepfather to provide proof. If you are the registered keeper then there is inferred ownership and the trustee will assume you are the owner of the vehicle if they have nothing else to go on.

It's a real pain that there is no register of owners in the UK, it would make life for both trustees and debtor far simpler!