Problems with my car.

max_pug

Hi guys a quick question if anyone can please help.

My car is on its last legs and I have a bad feeling that its just about dead.
I'm about to declare bankruptcy in the next month, I've saved up the fees and am now just waiting on my letter from my IVA company saying that the IVA failed.
My question is, would the OR take a bad view if I was to leave it a couple of more months save some more money and get another car???
I need a car for work as I do 60 miles round trip and also work shifts so without a car I cannot work.
Any help on this is much welcome.

Heycock

Hi.
The timing of the bankruptcy is up to you. It just means another few months of begging letters from your creditors. The OR is unlikely to ask why you've delayed things a couple of months. Just make sure you use this time to get proper advice from the CAB or one of the debt counselling charities. National or local...if you haven't already, that is.

As to the car...shouldn't be a problem. As long as it's essential for work and is of modest value, then the reciever won't declare an interest. Just DON'T borrow to buy it. That will look bad if you've borrowed on top of filing for BR. Even off relatives or friends. You could get an understanding OR or you might get a stickler.
Try getting an MOT'd runner from the auctions to tide you over till after you've been granted your BR. Think cash cash cash from NOW on.

Good luck and don't worry too much. 99% of OR's are normal human beings and aren't in the business of trying to catch you out.:beer:

max_pug

Thanks for the reply,

I have spoke to the CAB and been thinking this over for a while now. Everything is in place, it's just typical that this happens now, when I have saved the money for the fee's.

And I have already started paying cash for everything and started living on budget's, hence why I have saved enough for a cheap run around.

philnicandamy

make sure you keep ALL receipts just in case the receiver asks...