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I was in the IVA from 2006 and had the car a year before that,i'm petrified about this now.0
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Would i get a BRU for trading it in for another car with smaller engine?obviously it was my partner that traded it,no finance is in my name.0
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In early 2007 did you have any reason to believe your IVA would fail? And did the IVA people agree to you getting rid of the car?Accept your past without regret, handle your present with confidence and face your future without fear0
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There is not a problem with selling the car or trading it in......the problem lies with selling/dosposing of the car at less than market value.They(OR's) then see it as disposing of an asset.DxFree impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D0 -
Would i get a BRU for trading it in for another car with smaller engine?obviously it was my partner that traded it,no finance is in my name.
As your partner has a company car, it would seem logical that even though the finance isn't in your name, the car was purchased for your use. I don't know about getting a BRU but I would imagine the OR will question you quite closely about the car situation, especially as you did this after you had entered the IVA so were aware you had financial problems.Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848"He who laughs last didn't get it!" :rotfl:BSC 134
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£3000 sound a very low value for a 2 year old car. What is it?0
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I wouldn't worry because you haven't done anything illegal and I would urge you to tell the truth and not try and make up stories.
:j :j
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I'm going to tell the truth,I don't lie in general and not going to start now.I can't help but feel like I've broken the law and I'm gonna get some sort of punishment. If I get a BRU/O will I still get an ipa? I can't concentrate at work,haven't eaten for 2 days and can't sleep as I'm so worried,I feel like I'm gonna breakdown at any minute! God I sound like a right drip!0
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You could still get an IPA with a BRO/BRU....not the end of the world though even IF you got a BRO/BRU your still discharged at 12mnths just some of the limitations are still in place till the BRo ends....and IF you end up with an IPA that'll run for 3yrs anyhow...BUT will only come into effect IF you have a surplus of over £99 a month after all your living expenses are paid....
Your health & wellbeing are more important....try not to worry (easier said I know) untill you know whats gonna happen you may be worrying for nothingWe all die. The goal isn't to live forever, the goal is to create something that will0
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