Will i lose my car?!!!

wendywoo1982

Hi, will i lose my car when i file for bankruptcy when i need it to get to work?

nomoneytoday

AFAIK it depends on its value and if anything is owed on it.

If you have a Bentley to get to work for example it would be a different story to a 5 year old rep-mobile

yellowmonkey

nomoneytoday wrote: »

AFAIK it depends on its value and if anything is owed on it.

If you have a Bentley to get to work for example it would be a different story to a 5 year old rep-mobile

And also your OR. Seems a bit of a lottery with what one will allow that another will not. Basic guidlines but no continuity or level playing field :rolleyes:.

ym

tigerfeet2006

If the car is essential to get to work ie: you can't just walk the 20 minutes down the road to work and the vehicle is not worth in excess of £2000, then you generally will have no problems keeping it.

wendywoo1982

Well its worth about £600 and i cant walk to work and there is no bus route either, so fingers crossed!

tigerfeet2006

Then it should be fine.

philnicandamy

i'm confused....in your other post you said car is worth £800...

wendywoo1982

philnicandamy wrote: »

i'm confused....in your other post you said car is worth £800...

Im not sure what its worth to be honest a know nothing about cars but its def not worth anywhere near £1000. It will be between 600-800, still not worth much

tigerfeet2006

The OR usually uses Parkers guide to see what cars are worth. But £600 or £800 probably won't make much difference. Perhaps put it down at £700 and split the difference

matthew_s

according to parkers my car is worth 2300 quid, i live 25 miles from work and HAVE to have a reliable car

am i going to lose it ?

tigerfeet2006

Is that on the poorest condition? Cars are a difficult issue, especially when they are near the mark. Some OR's are sensible and let you keep it and you carry on as normal and some will take it, sell it and give you something towards another car. It's a case of suck it and see I am afraid.