thinking of bankruptcy, question about dvla

GetMeOutOfHere_3

This is my first post, i have been reading into bankruptcy on the forum for a while now.
I have quite a lot of debt which has built up over the past 7 years since i was 18. I have always kept my payments up until the last few of months when i have started to struggle. I am self employed and was on a good wage upto about 6 months ago since then things have changed and now i am currently unemployed and as a result of this all my direct debit have been cancelled by HSBC so i have moved my essentials to my partners account but i cant expect her to pay my debt oven if she could afford to.
On my card about a year ago i bought a private plate for my partner for her birthday (which i did payoff) will this be something that they would look into taking off her, also will they look back at all my purchases as the family car was purchased off my card but has never been in my name.
Thanks any advice will be appreciated.

fiveyearplan

Hi and welcome!

I doubt they would take the number plate but not really sure. How long ago did you buy the car? That could be considered your car. Owning a car and being the registered keeper are not necessarily the same thing.

peachyprice

If the plate isn't on your car I doubt they would take it. it was a gift to your GF, they can't go around taking gifts back that you've bought for everyone over the years. Or is it on the family car?

As for the car, if you bought it on your card the car belongs to you, regardless of who it's registred to, so yes, they could take if they spotted in on your c/card statements.

GetMeOutOfHere_3

I bought the car about 7 months ago when work was good i have moved money about on different card to try and keeps interest down and have paid a couple of large amounts off them, the car was purchased on about 3 different cards & the plate is on that car should i take it off?

tigerfeet2006

Bumpity bump

bunnygirl007

I'm trying to find out more about bankruptcy and IVA too. Do they check all your CC statements etc to see what you've been buying? and then take it off you?

I don't keep all my statements so how do they find these things out e.g. just been watching Bust and the lady on there whose mum had loaned her some money which she paid back couple of years ago - how did they find out about that and surely a couple of years ago things were probablya lot different so why shouldn't she have paid her mum back.

This is far scarier than I was led to believe reading posts on here!

Can someone tell me wha they do take and what they want to know about your past spending and is this just done for bankruptcy or IVA too?

Thanks

Merry_Gentry

I'm trying to find out more about bankruptcy and IVA too. Do they check all your CC statements etc to see what you've been buying? and then take it off you? They get copies of all of your bank statements, etc going back up to five years. They don't take the stuff off you unless it cost more than £1,000 and/or has a resale value.

I don't keep all my statements so how do they find these things out e.g. just been watching Bust and the lady on there whose mum had loaned her some money which she paid back couple of years ago - how did they find out about that and surely a couple of years ago things were probablya lot different so why shouldn't she have paid her mum back. It will no doubt have been listed on her SOA (Statement of Affairs), her bank statements or something like that. Because they go back a couple of years, they consider it from when you are insolvent, so sometimes they may view it as you should have realised so paying someone back means preferential treatment. I wouldn't worry too much - if you have borrowed money from family, and paid it back they can try to get it back, but if your family no longer has it, they no longer have it

This is far scarier than I was led to believe reading posts on here! It is scary - never doubt it. A lot people think going bankrupt is taking the easy way out, running away from your responsibilities, etc and when they read the posts on here they don't see the full picture - it's well worth reading some of the diaries that give a FULL picture so you can see the ups and downs. It can be a huge relief but it's not easy.

Can someone tell me wha they do take and what they want to know about your past spending and is this just done for bankruptcy or IVA too? Items of value worth over £1,000 generally. They might take your car if it is (a) worth something, and (b) you can't prove you need it. It's well worth you starting a thread of your own, listing your debts, and a SOA and we can help you.

Also call CCCS or the CAB to get some impartial advice.

Welcome to the forum :hello:

Merry_Gentry

http://www.makesenseofcards.com/soacalc.html

For doing your statement of affairs. If you don't have all your statements, the OR's office can get them for themselves.

GetMeOutOfHere_3

i am looking into iva or bankruptcy, i am self employed but if i do an iva i dont want to be struggleing to make payments and have nothing left at the end of the month where as bankruptcy could be a fresh start

bunnygirl007

Thanks for the quick response. Can you point me to a good diary/ries so I can get the full picture. What would make me decide bankruptcy over IVA or vice versa?

PS - I will start my own thread once I get more confident dealing with my mess. I'm getting there but oh so slowly!:o

Merry_Gentry

Scarlet's diary, Wherediditallgo - I did a diary from start of bankruptcy, then am doing an updated one of my year as a bankruptee - will see if I can find some links for you.