Different OR's attitudes to cars...and stuff

fermi

philnicandamy wrote: »

Thanks for the info...realised after i'd posted what i'd done d'oh!
Hmm been in a pretty rotten place the last few weeks so please excuse my absence...i'll still lurk & answer any PMs for a while till things are a little better

Understood Phil. Been there, done that, and probably not :ofinished with it yet.

Take care please.

blind-as-a-bat_2

fermi wrote: »

Understood Phil. Been there, done that, and probably not :ofinished with it yet.

Take care please.

Ditto .......

OhDear

blind-as-a-bat wrote: »

Exempt vehicles (bankruptcy only)
April 2006

31.2.17 Definition of the bankrupt's estate

The bankrupt's estate comprises all property belonging to or vested in the bankrupt at the commencement of the bankruptcy [note 1] except,

such tools, vehicles and other equipment as are necessary to the bankrupt for use personally be him/her in his/her employment, business or vocation and,

such clothing, bedding, furniture, household equipment and provisions as are necessary for satisfying the basic domestic needs of the bankrupt and his/her family.

subject to certain excluded property reclaimable by the trustee [note 2].

OK - So why is my examiner still "undecided" about my car? Over 2 months since BR!:mad:

Spoke to examiner 23rd Dec. She had valution and was waiting for redemption figure from HP co. How can I press her for an exemption, so I can get on with running my driving school? I need to book clients tests for 4 weeks time, yet I don't know I can supply my pupil with a car!!

(Some more details on my thread;

http://forums.moneysavingexpert.com/showthread.html?t=1261541

......as I'm a slow typist!)

It feels like they want all the results to all their enquiries before they give an answer to any individual point. Can I push for an answer on the car while they still investigate OH house, when they only wrote to CB a full 2 months after BR? :mad: I want an answer on the car now!!!!

I get the impression that they're just stringing the whole thing out, until I just crumble and give them my Swiss bank account number.:D

But I am very:mad::mad::mad::mad::mad::mad:

ChelseaBun is having to pay for everything out of her wages anyway, so any IPA is a long way off! I want to get on with my life and my business, but this uncertainty is killing me and my business.

Should I demand an exemption for the car? I'm keeping up with the payments and a major service is due. So I want to know before I spend out any more money.

OD:mad::mad:

ps:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:

tigerfeet2006

Bumping for Oh Dear and Dorothy so that Bat, Fermi and the other experts might see this.

Addicted2Chocolate

Cars on finance, HP or lease, cannot be exempted. Its just not possible as they are not assets owned by the bankrupt. The OR writes to finance company to get a settlement figure. In very very rare circumstances where a car is worth well in excess of the settlement figure, the agreement will be adopted (taken on) by the OR. Then the car would be sold, the surplus money going to the bankruptcy estate.
I have never in 9 years come across a single case where car has been worth well over the settlement figure. I have never seen an agreement be adopted by the OR. So in majority of cases the OR has no further interest and it is down to finance company whether they let the agreement continue.
If the examiner in your case is saying they are still undecided about exemption, they dont know what they are doing. But if they say they dont know about the car, they are very likely waiting for a reply from the finance company.

OhDear wrote: »

OK - So why is my examiner still "undecided" about my car? Over 2 months since BR!:mad:

Spoke to examiner 23rd Dec. She had valution and was waiting for redemption figure from HP co. How can I press her for an exemption, so I can get on with running my driving school? I need to book clients tests for 4 weeks time, yet I don't know I can supply my pupil with a car!!

(Some more details on my thread;

http://forums.moneysavingexpert.com/showthread.html?t=1261541

......as I'm a slow typist!)

It feels like they want all the results to all their enquiries before they give an answer to any individual point. Can I push for an answer on the car while they still investigate OH house, when they only wrote to CB a full 2 months after BR? :mad: I want an answer on the car now!!!!

I get the impression that they're just stringing the whole thing out, until I just crumble and give them my Swiss bank account number.:D

But I am very:mad::mad::mad::mad::mad::mad:

ChelseaBun is having to pay for everything out of her wages anyway, so any IPA is a long way off! I want to get on with my life and my business, but this uncertainty is killing me and my business.

Should I demand an exemption for the car? I'm keeping up with the payments and a major service is due. So I want to know before I spend out any more money.

OD:mad::mad:

ps:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:

blind-as-a-bat_2

Addicted2Chocolate wrote: »

But if they say they dont know about the car, they are very likely waiting for a reply from the finance company.

And odds on the finance company has not got a clue what to do either:p

I find it quite funny how these big financial organisations dont seem to know what to do when faced with a BR:rotfl:

The TSB is a prime example, not one person had a clue what someone going BR meant, or what to do about it, and they are just about to become the biggest bank in the UK thanks to the HBOS merger...........god help us all :eek:

Amberlove

Hi I am new to the forum and noticed this thread..its very relevant. Cut a long story short...I went Bankrupt on 17 Nov 08 owing £75k mainly start up business debts all gone wrong, and its been an ordeal since..I went to the Royal Courts of Justice...and it was horrible..

The office admin there phone me and I can barely understand his english, first they took an e book i had self published ( i run my own business) and now they want my car (which is like worth not even a £100)..Im throughly hacked off with the whole process and frustrated - filing for the bankruptcy was the easy part!!!

My frustration is that they never seem to tell me where I stand ( i am still waiting t ohear about my ebook)...and I am on tender hooks await there next move...Ive managed to work out I can get someone to buy the car off me..and I had to provide a detailed report of where Id spent the debt I incurred...

On top of that I am pretty much homeless, and live off the goodwill of friends and family...as nos 1 - I still want to make a success of my business and nos 2 - theres not much point me getting a full time job as they take it all of you!!

I understand they give you a £100 of so over what you put in your SOA and then the rest goes to the creditors - plus they can ak eit off for upto three years - Is this right>? Also am i right about my car..?

Thanks - btw this forum is ace.....so helpful

JPS29

hi amberlove and welcome to the forum.

You are better off starting off your own thread rather than joining this one as your questions may get missed.

best wishes

Amberlove

I was just thinking I may have to do that... ;-)