How long till vehicle is taken?

Heycock

Hi.
You MUST get back in touch with the OR immediately as I have a feeling you may not have explained the situation to him/her clearly enough.

I write from experience....my car is also the tool of my trade and once I explained the situation the OR declared no interest using her power of EXEMPTION. It is not true that ALL your assets are the property of the OR. It is the OR's discretion whether or not to retain an interest.

Some facts to consider. The OR has to look at the market value. This is open to negotiation and is not cut and dried. For a start the loss in value from it's use as a learner vehicle must be taken into account. The above average mileage, the nature of it's use (on gearbox and clutch principally), and any dual control conversion work will have reduced its value more than you may imagine.

ALSO, as a tool of his trade it would have to be replaced if disposed of. The question then is to whether a reasonable replacement could be obtained at the low price being discussed. the answer to that is NO WAY!

Ultimately, when it comes to the tools of a person's trade, there is NO limit on value set in stone and bankruptcy practice ALLOWS for the EXEMPTION of an asset under these circumstances.

Obviously it would be different if your husband was giving lessons in a £30,000 Merc. THEN there may be a case for disposal and replacement by something more reasonable!

Please, please don't accept this initial decision by the OR. Appeal and be prepared to take it further.

Heycock

Hi.
Remembered your earlier post. Might be worth mentioning about the accident damage as well.

dojoman

now wrote: »

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

As you say every case is different, best to leave it that, good luck with your upcoming AD.

now

dojoman wrote: »

As you say every case is different, best to leave it that, good luck with your upcoming AD.

Thank you xx good luck with yours

beardc02

thanks for all your help guys. My OH has his OR interview tomorrow so he will asking all this. His Mum has agreed to buy the car for him (good ol Mum's!) to save him losing it, so I assume we need to negotiate a price? Does the £2,000 the OR offered us to get another car get deducted from the valuation of the car or is this me being too greedy? Only prob we may come across now is that if the car is in his Mum's name is this going to cause problems for him insuring it as a driving instructor if he doesn't own it?! I'll let you know how he gets on tomorrow- can't wait til it's all sorted!

datcat

Hi now I'm not 100% sure, but I think even though your Mum will be the owner she does not have to be the registered keeper if that makes sense. I'm sure someone will be alone to confirm or deny this:)

alastairq

yes.. the registered keeper isn't necessarily the owner....as noted on any V5c.

A lot of insurers wont insure a car unless the proposer is the registered keeper.