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asset aquired after bankruptcy
bluebird36
Posts: 120 Forumite
Hello,
my old car has finally reached the stage of 'to expensive to repair'. I have an exemption letter from my OR for it. A colleague has offered me her old car as a gift, it is only worth about £600 and is 9 years old.
I have e-mailed my OR to query if it is ok for me to accept this 'new' car, with the old car being scarpped.
He answered:
I can confirm that the Official Receiver has no objections with you accepting this vehicle, however our office will not send an exemption letter in connection with this vehicle, due to it being an asset after the date of bankruptcy..
Please note that the Official Receiver will require a copy of the scrapped certificate, once received at his office this will conclude his administration on this matter.
Does this mean they will take this new car off me? Or can I keep it? Is it an allowable expense on the SOA? I tried to e-mail the OR again but have so far not received a reply... This is worrying me greatly, because I really need another car...
my old car has finally reached the stage of 'to expensive to repair'. I have an exemption letter from my OR for it. A colleague has offered me her old car as a gift, it is only worth about £600 and is 9 years old.
I have e-mailed my OR to query if it is ok for me to accept this 'new' car, with the old car being scarpped.
He answered:
I can confirm that the Official Receiver has no objections with you accepting this vehicle, however our office will not send an exemption letter in connection with this vehicle, due to it being an asset after the date of bankruptcy..
Please note that the Official Receiver will require a copy of the scrapped certificate, once received at his office this will conclude his administration on this matter.
Does this mean they will take this new car off me? Or can I keep it? Is it an allowable expense on the SOA? I tried to e-mail the OR again but have so far not received a reply... This is worrying me greatly, because I really need another car...
0
Comments
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Hi bluebird,
We were able to exchange our excempt van for a car during br, and we had a letter stating the same as yours, (apart from requiring a scrap certificate, as we were not scrapping the van).
It just means that they are happy for you to take the new car on, but it does not require a new excemption letter as it was not a asset at the time of br.
Nothing to worry about, enjoy driving your new car:T
Jenni xx0 -
Wow, thank you Jenni, that is a great relief! I wish they would just say these things in easy words, such as:
Yes, ok, get the car, all will be as it was before...
That would have been straightforward!
Thanks for getting back to me straight away, I am really happy now!!0 -
best contact kerry katona, she seems to be the expert getting / keeping fancy cars after going BP..Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)0 -
brightonman123 wrote: »best contact kerry katona, she seems to be the expert getting / keeping fancy cars after going BP..
Think they're all either on HP or in her husband's name :rolleyes:0
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