Oh poop!!! Car owned by parents but for ins purposes...

skylight

Unfortunatley, verbally has nothing to do with legally.

If you purchased the car and the payment came out of your bank for it, the reciept is in your name and even on the insurance states you are the owner then you do not have a leg to stand on. If the reciept was in your Dads name then it would be easier.

angiebhfx

gizmo111 wrote: »

I'm very confused as I see from your other thread you are on benefits, yet you say you recently accquired the car for an economical commute to work? Have you declared the car to the OR on your SOA?

I got the car to commute to work before I was made redundant. I live it West Yorks and the best chance of getting a job is to commute although I would prefer not to anymore.

I declared the Car to the OR but have put that my Dad owns it. I have also put the running of the car in my outgoings. As my Dad is going to pay for the car and allow me to use it for when I get a job.

What would happen if i just gave my Mum the car back now. Could I be thrown in Jail?

Angie

angiebhfx

My OH has just said. we had a mortgaged house which we gave back to the lender, why if we give my Mum the car back is it any different.

angiebhfx

How long would I go to jail for for disposing of an asset?

dojoman

Let us get one thing straight, you ARE not going to jail, the worst thing that could happen is a BRU/BRO.

angiebhfx

what's Bru/Bro?

dojoman

Have a look here, but to be honest I would be surprised if you got one,


http://www.insolvency.gov.uk/freedomofinformation/technical/BROBRU.HTM

gizmo111

angiebhfx wrote: »

My OH has just said. we had a mortgaged house which we gave back to the lender, why if we give my Mum the car back is it any different.

The difference is your mother has no legal charge over the car and the OR will see it as disposing of assets. Best talk to them on Monday.

wayforward_2

i had a leased car that went as soon as we declared BR. My parents were willing to buy a car for us to use but as it would be over £2k our OR was insistent that it was not insured or registered in our name and that if it were it would indicate ownership regardless of who's name the receipt was in. What has happened is that my parents purchased, registered and insured the car in their name and we pay them back out of our surplus each month. The OR is happy that they are effectively lending us the car that they own and can use at any time - we are now discharged and so will have the car transferred to us and carry on paying off the purchase price to my parents.

Think each OR has a different view on what constitutes ownership - but the bottom line is you are not allowed to own an asset over a certain amount (about £1500-£2k i think) and if you have the receipt and the registration and the insurance all in your name i can't see how your OR is going to view you as not owning it!

Aunt_Harriet

I just wanted to reassure you that you wont go to prison.

One thing to remember though is that the OR will be going through your bank statements etc with a fine tooth comb. But that is just routine.

As long as you've not been reckless with your spending, and haven't been buying 'unnecessary electricals etc' rather than paying your creditors, then there should be no problems. The OR can take a very dim view of such things, but he/she will check out any such queries with you, and the worst that can happen is you will be discharged later rather than sooner.

In extreme cases a bankruptcy can last 15 years, but that is very rare. And i'm sure you've got nothing to worry about.