Car

Tupperware_Queen

I had a small amount in premium bonds before BR. As I had to move from the marital home into a 2 bed flat I needed to buy a cooker (the gas cooker I had before did not meet safety regs for flats) and also a fridge freezer, as I was not able to take my seperate fridge and chest freezer, due to lack of space. The advisor at CAB told me to cash in the premium bonds and use the money - just to make sure I kept all the receipts etc.

I did this and was not questioned about it at all.

haremscarem

I'd dump the car before hand if you can, try and get something for about £1000. That should make sure it's out of the 'been stood while/has no service history/hasn't had money spent on it for parts for a long time' category. If it's a HP car and it was dumped due to no longer being able to afford payments on it, it's a step in the right direction. Buying something cash only leaves running costs.

Make sure you research the local buses and taxiing. If this proves to be a pain, or too costly or even unavailable then it's a good argument to keep the car you bought. You could always say at the time of purchase you didn't envisage going bankrupt, nor saw it as an option, just trying to reduce your outgoings. Of course, assuming you haven't already taken advice or steps towards bankruptcy.

Official receivers are funny old things, it will depend on the day of your interview and your convincing skills. I was allowed to keep my vehicle due to little worth and the fact that although I was not far from work, to walk it was too long and the bus service didn't exist on said route. On top of this, I needed to carry tools and stock with me from home to work, the cheapest option being a car. Once all evidence was put forward they exempted the vehicle with no questions asked.

capeverde

As youre not bankrupt yet its upto you what you do with your savings, its not like you are having a last splurge on credit cards and funding things this way, knowing you are insolvent. Draw out the money and get a vehicle put in a family members name. If questioned just say you were suffering badly from stress and simply had to get away for a aweek as you thought you were having a breakdown. If you want to add weight to this just pop and ee your doctor beforehand.

Ineedaname

capeverde wrote: »

Draw out the money and get a vehicle put in a family members name.

Not a good suggetion in this instance as the OR will want to know where the money went. As soon as the OP says "I bought a car" then that car belongs to the OP, regardless of whose name is on the V5. Also, to be able to insure and tax the car the OP will need their own name on the V5.

dojoman

Makes no difference if he tries to put it in to someone else`s name, the OR will still have a claim on it.

philnicandamy

capeverde wrote: »

As youre not bankrupt yet its upto you what you do with your savings, its not like you are having a last splurge on credit cards and funding things this way, knowing you are insolvent. Draw out the money and get a vehicle put in a family members name. If questioned just say you were suffering badly from stress and simply had to get away for a aweek as you thought you were having a breakdown. If you want to add weight to this just pop and ee your doctor beforehand.

Good idea..if you fancy every financial transaction being looked into by the OR in more depth along with suspension of discharge till the receiver says so as well feel free to do what capeverde suggests


wonder why this place gets trolled

haremscarem

capeverde wrote: »

As youre not bankrupt yet its upto you what you do with your savings, its not like you are having a last splurge on credit cards and funding things this way, knowing you are insolvent. Draw out the money and get a vehicle put in a family members name. If questioned just say you were suffering badly from stress and simply had to get away for a aweek as you thought you were having a breakdown. If you want to add weight to this just pop and ee your doctor beforehand.

You'd have to be VERY good to cover that during an interview. If you could do it without withdrawing money, fine. But like Ineedaname says, the official receiver will want to know where the money went. IF you knew you were going bankrupt it would be hard to stand up. I'd sold a car to relative about a year before bankruptcy, but then I never saw it as an option, the official receiver still wanted to speak to the relative about it's worth and condition when I had my interview.

dojoman

At the end of the day, no one can say what will happen (unless they have a crystal ball;)) it will be down to the individual examiner on the day, simple as that:)
And we should not be advising people on how to "con" the OR.

mandyl

honesty is the only way

freddy911

capeverde wrote: »

Draw out the money and get a vehicle put in a family members name. If questioned just say you were suffering badly from stress and simply had to get away for a aweek as you thought you were having a breakdown.

I'd rather risk not having a car at all then do something that could be classed as fraudulant, My job is about the only think I have left and while going BR shouldnt cause an issue for me, a criminal conviction would, admitted this would be an extream case, but not worth the risk IMO.

I think I will just draw up the money and buy a modest car, and be open about it to the OR, that way the worst that can happen is they will take it if they dont agree my need.

Thanks