OR call yesterday - car being taken

Ineedaname

I think the option to buy it back is gone once the vehicle has been taken. If you were to buy it back after then you would possibly be liable for the removal and storage costs as well!

I appreciate the plan of action for your OH to be able to drive again. But the OR has seen that you are both managing with you driving him to work now, so appear to have made the decision that this arrangement can continue.

bcljnk

Ineedaname wrote: »

I think the option to buy it back is gone once the vehicle has been taken. If you were to buy it back after then you would possibly be liable for the removal and storage costs as well!

I appreciate the plan of action for your OH to be able to drive again. But the OR has seen that you are both managing with you driving him to work now, so appear to have made the decision that this arrangement can continue.

Its gone now, and we have moved on and put it behind us, will just start saving once christmas is over for a cheap one, we were just never given the option to buy...just got a call a day or 2 after DHs call from the people who collect it to say they were coming for it!!!

sheffield_soldier

very suprised at this - im only 3 mile away from work, car valued at £1200, no children and have been allowed to keep my car. I am very sorry to hear your situation.
Maybe your past could have influenced the OR as extra punishment? I hadn't had debt for 4 years before my bankruptsy so they could see i had changed my ways of spending by the time I went BR.

Ineedaname

sheffield_soldier wrote: »

Maybe your past could have influenced the OR as extra punishment? I hadn't had debt for 4 years before my bankruptsy so they could see i had changed my ways of spending by the time I went BR.

There are very specific rules which the OR must apply and refer to. Just because someone was still using their credit cards (to get by) shortly before going BR would not be a reason to punish them by not exempting a car.

If a BR has taken out more credit knowing they are insolvent then there are other sanctions which can be imposed, again taking a car would not be part of that.

debtinfo

Yep as Inan says restrictions and assets are kept completely separate

singingsister

We didn't have any credit cards FYI

My hubby hadn't been naughty - unless you consider him getting made redundant and struggling to get a job in the economic climate "naughty"?!

alastairq

Maybe your past could have influenced the OR as extra punishment? I hadn't had debt for 4 years before my bankruptsy so they could see i had changed my ways of spending by the time I went BR.

Let's not get confused over what BR actually is, and entails here?

Firstly, just because a Court, and the Law are involved, does not in any way indicate any sort of wrong-doing on anybody's part.

BR is a legal process, pure and simple....just like divorce.

There is no place for punishment of any sort, no wrong-doing has occurred..

Restrictions can be imposed by the Receiver if there are issues concerning the running of an individual's finances prior to the Order being made...

In fact, in the past, Receivers have been quite content with the situation whereby an Insolvent individual has used.....for example, an overdraught facility to fund the Court fees when petitioning BR..even though the debt incurred would then be included within the BR.


Using the concepts of punishment and wrong-doing when dealing with the issues surrounding BR sends entirely the wrong message, especially to those who may simply be lurking, garnering information..[and moral support]!

As regards to 'naughtiness?'

Well, the Bankrupt Inn is the place to delve into that sort of subject.....isn't it?

alastairq

With regards to the OP's original issue, concerning vehicles and exemptions?

If a vehicle is exempted as an asset in a BR, there will have been satisfactory evidence produced in order for that exemption to be granted.

What folk appear to not understand is.....pretty much every aspect of BR is in fact negotiable.

Whether it be the amount, or presence of, an IPA....

or the cost of purchase of the OR's interest in an asset...

or, even, whether in this case..a vehicle should be exempted as an asset within the BR.

But...as with all negotiation, evidence to support one's case is needed...and that evidence must fit the criteria..the 'rules'.

makeyourdaddyproud

May I ask how the bankruptcy occurred? Was it through employment misfortune? I would seriously recommend not jacking in your job ... they are precious at the moment. If you can obtain a cheap runner (<£300 with an mot), w/small engine, that might tide you over and still get your child to the nursery that he/she enjoys.

I only say this because your about to make a bad decision and go onto benefits which you won't receive because you resigned.

Is there a family member from whom you could loan a small sum, and perhaps repay them £20/week? I am sure you must a family member who can help...

singingsister

makeyourdaddyproud wrote: »

May I ask how the bankruptcy occurred? Was it through employment misfortune? I would seriously recommend not jacking in your job ... they are precious at the moment. If you can obtain a cheap runner (<£300 with an mot), w/small engine, that might tide you over and still get your child to the nursery that he/she enjoys.

I only say this because your about to make a bad decision and go onto benefits which you won't receive because you resigned.

Is there a family member from whom you could loan a small sum, and perhaps repay them £20/week? I am sure you must a family member who can help...

We had debts that, when we were both working were managable. It wasn't easy but who does have it easy at the moment?

I was made redundant in Sept 09 when I was pregnant and then hubby was made redundant April 11.

My dad MIGHT be able to lend us some of the money....but I know he can't match the OR's valuation.

The thing is, I'm not really happy to get a mega cheap runaround. In the past I've done that to keep things cheap but it's ended up costing more in getting bits repaired as and when they have fallen off. And then you get to MOT time and find loads more work that has to be carried out!

Believe me, the last thing I want to do is give up work - I'm loving the freedom of not just being a mummy! :A