Bankruptcy in middle of situation changing

thecornflake

Crikey. A while ago I was thinking about swapping cars with my Dad for a while anyway , as his car is a bit of an old banger but much cheaper on the insurance etc, until I sorted myself out. Sounds like it's a good job I didn't.

dreamcatcher73

Not being funny but you can't have it all ways, which is what you seem to want. You want to file for BR and wipe out your debt, but you feel you should be able to keep a 4 grand car.

Surely you should just be grateful for the chance to get your life back on track, some people on here have had no choice but to go BR and have lost their homes because of this.

Just my 2p worth

thecornflake

dreamcatcher73 wrote: »

Not being funny but you can't have it all ways, which is what you seem to want. You want to file for BR and wipe out your debt, but you feel you should be able to keep a 4 grand car.

Surely you should just be grateful for the chance to get your life back on track, some people on here have had no choice but to go BR and have lost their homes because of this.

Just my 2p worth

I don't want it all, and I accept that it's the only chance I really have to get my life back on track etc. It's just the fact that it looks like I wouldn't be able to get another car easily, which means I wouldn't be able to get another good job and end up being on benefits for ages until I could save up for another car. If I knew I'd get a good job fairly soon I'd hold off and hope I could still do the IVA as I'd much rather pay some of the debt off myself and at least know I've tried to pay some of it back.

dreamcatcher73

Apologies if that came across as a bit harsh, it's just you get people on here who want to go BR but want to know how they can hide any assets they have..

I'm sure you are not one of those people, it just looked like it from your first couple of posts..

Good luck with the job hunting hope it all works out for you

dandan76

you can say your dad lent you the money for the car and as you cant afford to pay him back you simply gave it back to him

sign over the car registered keeper to your dad. if they ask do you own a car you say no i dont. thats it. they wont look into dvla thats crap. if it came up say it was another debt you couldnt maintain.

go on the dole asap, get benefits, this means there is no money for your creditors. also you only need 375 quid to go pop.

keep your head down and your mouth shut.

good luck

Merry_Gentry wrote: »

Thanks. If I was given more money to purchase another car that would be ok.
There is no guarantee you would be given money to purchase another car, especially if you are unemployed.

Could I sell it to my parents say for a £1 and then buy it back off them?
This would be seen as disposing of assets and the transaction would be reversed. It would also seriously p1ss off the Official Receiver, who would probably go through your case with a fine tooth comb.

Also, I forgot to ask - after I'm discharged, what happens if a couple of months later say, I get a really high-paying job? Presuming I wouldn't have a payment order because at the time of bankruptcy I was not working
Anything that happens after bankruptcy is up to you - if you don't have a job whilst bankrupt, then no IPA.

nervousmother

dandan76 wrote: »

you can say your dad lent you the money for the car and as you cant afford to pay him back you simply gave it back to him

sign over the car registered keeper to your dad. if they ask do you own a car you say no i dont. thats it. they wont look into dvla thats crap. if it came up say it was another debt you couldnt maintain.

go on the dole asap, get benefits, this means there is no money for your creditors. also you only need 375 quid to go pop.

keep your head down and your mouth shut.

good luck

What utter cr5p advice!

please dont do any of that! the OR can look at dvla, if you gave your dad the car and said you had given it him because he had lent you money the OR would see it as prefferential payment and reverse anything you did.

If someone is on the dole because of circumstance then fair play, but to advise somone to claim dole to get out of paying anything back is stupid. The allowances you get during BR are high, its worth working!

I_luv_cats

Losing a car against clearing your debts and rebuilding your life NO CONTEST!!!!

You could do an online debt remedy with CCCS and then ring them up. They have a brilliant Bankruptcy advice line.

I think the OR looks back 2 years and as others have said the OR can reverse your actions.

thecornflake

I_luv_cats wrote: »

Losing a car against clearing your debts and rebuilding your life NO CONTEST!!!!

You could do an online debt remedy with CCCS and then ring them up. They have a brilliant Bankruptcy advice line.

I think the OR looks back 2 years and as others have said the OR can reverse your actions.

I was about to do an IVA with Payplan - they were about to set out the final proposal when I lost my job.

I don't see why giving the car to my parents due to not being able to pay them is preferential, of course I'm related to them but the debt was for the car so it makes sense, and I can prove I've been paying them for the debt. The only other option, of selling it to someone else, would be no difference - I'd still have a debt to pay off.

I am going through the process of applying for banefits but also looking for work as well otherwise I wouldn't be able to pay my basic bills.

I_luv_cats

Get legal advice from CCCS / NDL otherwise you could be caught with your pants down!!!!!

The OR could take action legal against you / delve deeper into your case!!!

tigerfeet2006

If you were to sell the car for it's full worth and use the money to buy a car of less value, say under £1000, but be aware that this still could be taken but it will be looked at better than a £4000 car. Use some of the money for your fees. Save the rest of the money to give to the OR or do any of your white goods need replacing? Stock your cupboards up;) . Keep a paper trail for any of the money spent.

Do not give any preferential payments to your parents. The OR will check with DVLA about any cars registered to you, they do this as a matter of course.