Assets at discharge

sundays

if im discharged without a IPA etc, can i be gifted a asset ie a car, with no further problems ie as a discharge its out of the OR hands.

debtinfo

yes you can, as long as it is a totally new asset being given to you, ie not something that was already due to you

sundays

my family went nuts when i went BR, i have secured a new perm job starting in a mon th after 13 months unemployment , so they have decided to pay for a new car for me as i need the car for the job , i was discharged yesterday.

sundays

i see no helpful answers.

kepar

Sundays, DI has answered your question.

Come on , you have been on this site posting for over a year now, so you must know some of the answers.

After discharge you can receive anything and not have to declare it, providing it wasn't an asset before discharge and you delayed getting to avoid losing it.

Congrats on the job, did you put it off till after discharge or was that the way it fell.

I hope it works out for you .

sundays

BR keeps us still stressed , i worry over the slighest , but thanks.

sundays

no i didnt put the job back at all , it has taken 5 months to come through, government agency , and i have pushed the past month because i was so skint and hope to have a start date in the next couple of weeks.

sundays

Back to my original question, i wondered if there was a time frame that the OR may still query or look at you and then put you to test.
Im very lucky to have this gift.

I dont need to have the car registered for DVLA purposes in my name, but i guess if im discharged i should be the registered keeper, otherwise im assuming even if im not down for dvla purposes if im the insurance holder then the car would be considered mine anyway.

The car has not been purchased by any monies i have , it is a gift and there is no audit trail whatsoever to me.
It is a distant relative that has purchased it for me , not someone immediate to me either.

tigerfeet2006

Stop panicing. If you are discharged then there is no problem at all.

sundays

well does anyone have a good recommendation for car insurance. Thanks

alastairq

I dont need to have the car registered for DVLA purposes in my name, but i guess if im discharged i should be the registered keeper, otherwise im assuming even if im not down for dvla purposes if im the insurance holder then the car would be considered mine anyway.

The Registered Keeper [the name & Address on the V5c] is not necessarily the owner of the car...this is plainly stated on the V5c.


If a person is the most frequent user, and the vehicle is kept at their address, then they need to be the Registered Keeper for the V5c.

Most insurers require the proposer to be the RK anyway.

Plus...if one neglects to do this, and the V5c is in the name of the actual 'owner' [rather than the keeper].....then any communications regarding traffic offences would go there first...and if ignored/forgotten, etc...will likely result in a fine in the several hundreds bracket....for failing to name the 'driver'!

For motor insurance, I suggest trying Co-op? They may not be the cheapest, but they have a good admin system, are user-friendly for BR's...and...for a modest fee, allow monthly payments.

Plus, if one includes their breakdown cover in the premium, it is a good deal.