How long till vehicle is taken?

alastairq

perhaps the OR isn't yet 'aware' of that fact?

debtinfo

patman99 wrote: »

How ridiculous. If the OR takes-away the tools of the trade, then how is the op's oh supposed to earn a living and thus pay-off as much of the B/O as he can?

Not ridiculous, what happens is that if the OR accepts that it is needed but is of too high a value then the original is taken and. replaced with a lower value vehicle.

To the OP, usually you will have a significant period of time before anything will actually happen, as the others have said make sure that the true value of the car is put forward ie, dual control, maybe high millage

Also stess to the OR that it is needed for that particular test as it would be unfair to make the student change vehicle shortly before a test and ask that if it has to go that it be done after this test

kepar

patman99 wrote: »

How ridiculous. If the OR takes-away the tools of the trade, then how is the op's oh supposed to earn a living and thus pay-off as much of the B/O as he can?

I do not understand that comment, if he is earning it will pay his outgoings unless there is sufficient spare to create an IPA.
The asset which is the car will go to pay creditors, the IPA if enforced will go to the OR. You do not keep paying off your debt.
Hopefully he will be able to keep the car for that test and then come to an agreement with the OR.

Flyright

I think what people forget is that all assets that a person owns become 'owned' by the OR and if you want to retain any of those assets you either need to arrange to purchase them via a third party or prove why any asset should not be part of the bankruptcy assets, so as of now that vehicle does not really belong to the bankrupt person.

silvercar

Seems a particularly harsh ruling. All well and good to say to buy a cheaper car, but generally people won't learn to drive on an old banger and a driving instructor need reliability if he is going to attract customers.

now

dojoman wrote: »

No they don`t, I went BR in November and the car was not sorted until late January.

You must have been lucky as ours was dealt with in a matter of days, we went BR in November and we had to buy back the BI before the end of the month. My parents lsnt us the money, I thnk it seems each area is different however follow this link to the official guidelines. Might be that they are busy in your area anyway good luck as you like us are nearly at the end of your BR year

Motor Vehicles

March 2007
The official receiver must deal with motor vehicles owned or under the control of the insolvent as a matter of some urgency. Motor vehicles can be the cause of possible liability for the official receiver and it is thus imperative that they be dealt with in the most effective manner as soon as possible.

http://insolvency.gov.uk/freedomofinformation/technical/CaseHelpManual/M/MotorVehicles.htm

now

beardc02 wrote: »

We went BR yesterday (still feeling very emotional and not quite myself
:-( ). Or said my OH's car (tool of the trade as he's a driving instructor) will be taken away. We have our OR interviews next week and I was wondering how long do you think we have before they take the car? OH has a pupil's test booked on 24th Nov and really needs the car to do this person's test. He will be gutted if it goes before then (obviously the pupil won't be too pleased either!).

Any help appreciated.

Have you asked about the tools of your trade?

debtinfo

now wrote: »

You must have been lucky as ours was dealt with in a matter of days, we went BR in November and we had to buy back the BI before the end of the month. My parents lsnt us the money, I thnk it seems each area is different however follow this link to the official guidelines. Might be that they are busy in your area anyway good luck as you like us are nearly at the end of your BR year

Motor Vehicles

March 2007
The official receiver must deal with motor vehicles owned or under the control of the insolvent as a matter of some urgency. Motor vehicles can be the cause of possible liability for the official receiver and it is thus imperative that they be dealt with in the most effective manner as soon as possible.

http://insolvency.gov.uk/freedomofinformation/technical/CaseHelpManual/M/MotorVehicles.htm

Yes but, Only when the OR is trustee which may not happen for weeks can the money from any sale be brought into the bankruptcy estate

Also in practice when they say deal this can sometimes simply be confirming that the vehicle is properly insured and taxed to avoid a liability

dojoman

now wrote: »

You must have been lucky as ours was dealt with in a matter of days, we went BR in November and we had to buy back the BI before the end of the month. My parents lsnt us the money, I thnk it seems each area is different however follow this link to the official guidelines. Might be that they are busy in your area anyway good luck as you like us are nearly at the end of your BR year

Motor Vehicles

March 2007
The official receiver must deal with motor vehicles owned or under the control of the insolvent as a matter of some urgency. Motor vehicles can be the cause of possible liability for the official receiver and it is thus imperative that they be dealt with in the most effective manner as soon as possible.

http://insolvency.gov.uk/freedomofinformation/technical/CaseHelpManual/M/MotorVehicles.htm

Have a look at post 9, there is quite a lot of threads/posts with similar time scales to mine.

now

dojoman wrote: »

Have a look at post 9, there is quite a lot of threads/posts with similar time scales to mine.

All depends on how busy they are I guess, as I said ours was dealt with fairly quickly, I think it is a case of which area you are in and who you get on your case. A ex employee went BR 4 weeks after us as a result of our companies wind up, he also had his car dealt with within a couple of weeks (his car was taken and sold) We had hardly any contact with the OR he has been asked a lot more detail regarding his BR (considering we also had the company to deal with) his affairs were a lot less complecated then ours as he only had credit cards to deal with. We were all delt with at the same office but by different ORs. So I think it is case of each being dealt with as its own case. He had letters re his car we had calls with nothing in writing we were just told to turn up with the money for the BI, they let him keep things he thought would be taken, we have not been told what happened to our bank accounts, he has, we had money not a lot £130 in a savings account, have no idea if it has been taken, he had £27 in his account he was written to and told the account had been closed and the money paid to his BR. As the car in question is a tool of his trade I would have thought they would need to at least let him have something decent as he would put the lives of his customers at risk if he had a banger. We will have to wait and see what the OR decides to do in this case but I really hope it works out for the best xx