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Will i lose my cars ???

bates2k
bates2k Posts: 3 Newbie
in Bankruptcy & living with it
Hi im just filling out the bankruptcy papers and its asking about vehicles . We currently have a high millage 307 sw worth about £2700 and our other car is tricky to value ...... Its an S reg Audi A3 valued at 1,800 by webuyanycar.com but its a CAT C insurance rite-off that i repaired and put back on the road myself so it should be worth less . is the A3 at risk of being taken off me as i did this car up as its cheap to run and wont break on me causing more cost

Comments

  • maxmycardagain
    maxmycardagain Posts: 5,853 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    it all depends on your needs, i.e. do you need 2 cars to maintain 2 jobs (you and OH), is there anyone needing medical/hospital regular? do you live out in the sticks, school runs, etc, etc.

    who is the registered keeper on the V5?
  • damoandclaire
    damoandclaire Posts: 210 Forumite
    bates2k wrote: »
    Hi im just filling out the bankruptcy papers and its asking about vehicles . We currently have a high millage 307 sw worth about £2700 and our other car is tricky to value ...... Its an S reg Audi A3 valued at 1,800 by webuyanycar.com but its a CAT C insurance rite-off that i repaired and put back on the road myself so it should be worth less . is the A3 at risk of being taken off me as i did this car up as its cheap to run and wont break on me causing more cost

    I could be wrong, but thats a nice chunk of money to pay off some of your bankruptcy. They may use the tact of sell them and get yourself a lil cheap banger thats cheap to run.
    On the Keyboard of Life - Always Keep a finger poised over the Esc Key! :rotfl:
  • bates2k
    bates2k Posts: 3 Newbie
    maxmycardagain wrote: »
    it all depends on your needs, i.e. do you need 2 cars to maintain 2 jobs (you and OH), is there anyone needing medical/hospital regular? do you live out in the sticks, school runs, etc, etc.

    who is the registered keeper on the V5?

    I work 10 miles away with no chance of getting a bus and getting there for 8am . The mrs could now do without . If im declairing bankruptcy not her and we are not married is the, Peugeot 307 in her name at risk ??
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The Peugot is her asset and the OR will have no interest in it. If you need your vehicle for work then it is usually an exempt asset and the OR will not be interested in it.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
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