car question

seh567

Would my parents still be able to purchase the car back for me if not exempted and would the OR allow them to pay the running costs until I found a job?

Does the OR always have to offer to allow a third party to buy it back(my parents) if exempted? Do I have to request this or will they offer?

Mrs_Malaprop

If they say that the car is not exempted then just ask at that point whether your parent's can buy it. I wouldn't think he would have to much of a problem with it.

philnicandamy

and remember.....start with a low offer if they say you can buy back

philnicandamy

seh567 wrote: »

Would my parents still be able to purchase the car back for me if not exempted and would the OR allow them to pay the running costs until I found a job? Yes...although you would probably be responsible for the running costs (its listed on your SOA) so I doubt the OR would allow your parents to pay

Does the OR always have to offer to allow a third party to buy it back(my parents) if exempted? Do I have to request this or will they offer? IF its exempted as I said then yes you can offer to buy the OR's interest outright but as I said START LOW the OR will get what they can in the end of the day as it would cost them to remove store then sell on

A few more thoughts

seh567

I have my BR hearing on Wednesday next week. Still worried about losing the car.

I have taken the running costs of the car off my SOA as my parents have said they will pay these until I get a job. Should I confirm this on the additional pages.

Thanks

mikey_burnsey

Hi, I was in a state about keeping our car, lucky I did, through medical grounds.
But my wife found this web site

Exempt vehicle (Bankruptcy) sections 31.2.17 Households. put this in google and have a read.

onward

seh567 - I had two vehicles when I went BR in Feb. One worth max £1k, which I barely used, and one worth max £1500 (probably less) which is my transport to and from work.

The OR said the one I did not use was not worth them selling, and asked me if I wanted to make an offer for it. It is no good to me for travelling to work, and I had not budgeted for the extra upkeep, so I declined, and the OR took it. The other one (the one I use to get to work 6 days a week) was exempted.

You may well find they let you keep it if it is useful for your line of work, and not cost effective for them to sell it and then give you the cash to buy another.

haremscarem

I think it's all down to your circumstances, the OR and what car it is etc...

My OR didn't know anything about motor vehicles so she basically didn't go any further than enquiring with Parkers to see what mine were worth and that was the last I heard of it. Though, one wasn't technically registered to me anymore so they weren't interested.

Best thing to do is plead your case as best as possible to keep the car for work/employment purposes. You couldn't use public transport to fix ceilings or carry tools, etc etc... See how it goes, as long as you are clear and relatively honest you should be fine.

Like it was mentioned though, if they do say buy back the interest, offer low and work up. The OR is there to protect you as well as be fair to your creditors, so they can be quite lenient...sometimes.

mummytotwo_3

Quick questinon I went br 17th march, I have one car worth about £450-£500, i use it to back and fore work twice a week, have two children under 2 1/2 and another on the way, have hosp appointments for this pregnancy which are 20 minutes away by car let alone by bus. What are my chances of keeping this? Have or interview on tuesday morning - life would be hugely difficult without the car for example taxis would be out really due to carseat laws and buses hard work with a double buggy!!

philnicandamy

It'll be unusual for a car to be taken while you work...put down what you have hear & back it up with any supporting letters doctors etc & you should be fine..