keeping my bike

mandyl

hi
can anyone help please
i dont know if im going to be able to do my dro because of the old property i used to share with my ex and im wondering if i had to go bankrupt would they allow me to keep my bike?
nat debtline did mention bancruptcy and also said that they may allow me to keep my motorbike as its worth less than £1000 and will help me get a job in the future. as well as it helps my mental health.
gets me out and would greatly help in me gettin g work in the future., what with being alone etc.
one things for sure wish id not got in this mess
thankyou for all your help and not thinking badly of me.
mandy

fermi

Bike, as in motorbike I presume?

I'm afraid it's never guaranteed what the OR will decide in that sort of case.

You would need to make a case for keeping the bike, based on that fact that your prospect of finding work would diminish if it was claimed.

http://forums.moneysavingexpert.com/showthread.html?t=1056247

Bankrupt claims he/she needs vehicle for work

When considering whether to exempt a motor vehicle the principal points that the Official Receiver has to consider are;

• whether the vehicle is used by the bankrupt in his/her employment, business or vocation,
• that the bankrupt could not reasonably travel to and from his/her place of employment without a vehicle, due to lack of alternative transport,
• that the bankrupt's prospects of obtaining employment would diminish without use of the vehicle, even though the bankrupt may not be in employment at the date of the bankruptcy order. In such cases, the official receiver will need to decide whether there is a reasonable prospect of the bankrupt obtaining work,
• that a self employed bankrupt who does not have work at the date of the bankruptcy order may be able to retain a vehicle as an exempt asset if he/she can satisfy the official receiver that there is a reasonable prospect of him/her obtaining work, and
• that the bankrupt's prospect of obtaining work would diminish even if a vehicle requires repair but will then be used to travel to work or to seek employment.

The bankrupt must satisfy the official receiver that a vehicle is necessary. If the bankrupt cannot do so, and the official receiver has reasonable grounds for believing that the vehicle is not exempt, he/she is entitled to treat the property as part of the estate and deal with it accordingly.

debtinfo

are you seeking employment now as in JSA or are you on a benefit like ESA or income support

mandyl

I'm on income support but will prob in near future will be on ESA and looking for a part time job. I live 8miles from the proper town etc.