A little confused............can anyone advise please?

J-9

Hi all,

I'm new to this forum, though have been a bit of a 'lurker' for a few months but I was wondering if someone could help me ....

We (hubby and me) are in the process of filling out our bankruptcy forms and there's a couple of points I'm stuck on, I'll explain........please bear with me!

Had a Landrover Freelander which had massive problem last year, needed a new engine. A week after the head gasket on the new engine went so got it fixed. A total of £2000 in repairs. In April we started a DMP with Payplan but after taking advice decided bankruptcy would be the better route as we're now more in debt than when we started the DMP due to Payplan 'forgetting' to pay our creditors and LLoyds TSB being difficult and wacking on more charges. A month ago the Landrover engine failed again:mad: and we couldn't afford the repair bill (£800) so sold it for spares or repairs for £475. This left us without a vehicle and we live in a rural location and have kids we need to get to school, etc.

My father in law bought us a car, nothing fancy just a run around worth about £900. My first question is can the OR take it? I'm the registered keeper but I suppose my father in law is the 'owner'? Do I state on the forms that it's'mine' or that I have use of it'? (We pay it's running costs).

Secondly, we opened a Co-Op Cashminder account in April when we started the DMP. All that goes in and out are my husband's wages and our benefits, basic living expenses etc. Will it be frozen and will I need to open another acccount?

Sorry for being long winded, but I thought I should explain in as much detail as poss.

It's like swimming through mud at the moment...............:huh:

dalip

J-9 wrote: »

Hi all,

I'm new to this forum, though have been a bit of a 'lurker' for a few months but I was wondering if someone could help me ....

We (hubby and me) are in the process of filling out our bankruptcy forms and there's a couple of points I'm stuck on, I'll explain........please bear with me!

Had a Landrover Freelander which had massive problem last year, needed a new engine. A week after the head gasket on the new engine went so got it fixed. A total of £2000 in repairs. In April we started a DMP with Payplan but after taking advice decided bankruptcy would be the better route as we're now more in debt than when we started the DMP due to Payplan 'forgetting' to pay our creditors and LLoyds TSB being difficult and wacking on more charges. A month ago the Landrover engine failed again:mad: and we couldn't afford the repair bill (£800) so sold it for spares or repairs for £475.If sold at under value the OR may see it as getting rid of an asset,so keep all papework associated with the repairs ect This left us without a vehicle and we live in a rural location and have kids we need to get to school, etc.

My father in law bought us a car, nothing fancy just a run around worth about £900.how did you father pay for it...can you clearly prove he bought the car? My first question is can the OR take it?not if it does not belong to you;) I'm the registered keeper but I suppose my father in law is the 'owner'? Do I state on the forms that it's'mine' or that I have use of it'? (We pay it's running costs).you would need to say "you have the use of" that way you can still put the running costs down on your I&E sheet

Secondly, we opened a Co-Op Cashminder account in April when we started the DMP. All that goes in and out are my husband's wages and our benefits, basic living expenses etc. Will it be frozen and will I need to open another acccount? Might be wise to open another just in case but seeing as you opened it not log ago it may well be ok. No one can say for sure,depends on your OR.

Sorry for being long winded, but I thought I should explain in as much detail as poss.

It's like swimming through mud at the moment...............:huh:

Believe me the water will get clearer......oh and welcome to the forum.Dx

skylight

Echo Dalip entirely.



Echo..cho...chooo....cho....ho...o.o.o.....................

dalip

you are just after a drink sky;):rotfl:

skylight

dalip wrote: »

you are just after a drink sky;):rotfl:

Most definitely! Its turning into one of those days that I need to take my entertainment wherever I can find it.

Still, lots of drinks soon!!!!

J-9

Thanks a lot for the clarification on that.:beer:

Luckily I've kept al the paperwork and AA call out sheets so it's provable.

Have now got a court date for September...............:o

dalip

Oh good one. To be honest the sooner the better,does not give the butterflies time to build up and reproduce.lol
Any problems with the forms just shout....they can get confusing at times especially your Income & Expenditure sheet;).
Dx