Are you allowed a car when bankrupt?

Mike_St_Helens

Bakeybadoo wrote: »

Oh yeah, if it's more than a personal account sort of thing.

People have to live and thank god eBay provides a way for us to do it.

Is right.. Id sell my nan if theyd let me !!

Ive sold loads through Ebay.. Got rid of all the crap Id bought on cards over the years, probably aint got 20% of it back... makes me ashamed really.

Bakeybadoo

Hey, at least you recognised that you could get something back when you needed it. Nothing to be ashamed of in that.

My family joke that if it's not nailed down, on eBay it goes and they are right. It's saved us more than a few times, paid lots of essential bills.

miserableindebt

lol me too!! my kids have asked a few times if i take a pic of them you arent ebaying me are you mum.

to be honest whats classed as essential living and what weve been living on last few years will mean we are rich if that makes sense!!!! to have proper food and clothing money is beyond comprehension right now.

yes ive got the money gone in bank and then out and then the tenancy agreement to show weve paid the money in advance.

when i said sitting building up, I just meant as we have to pay the next lot in advance as well the money will be sitting in mypost office account until i need to withdraw it to give to the land lord again. (each month as pay goes in)

Another question, can you tell im a worrier lol!!! The money we get the second 6 months which we wont have to pay on rent, cos after a year were going to get to go on monthly pay, will the or want that?

We owe my mum and my hubbys mum money as well, do we put that down on the form? obviously they arent going to be able to right that off *(mores the pity)*but hopefully they will wait till were discharged before have to start paying that off.

Bakeybadoo

miserableindebt wrote: »

The money we get the second 6 months which we wont have to pay on rent, cos after a year were going to get to go on monthly pay, will the or want that?

Ok, that confused me. You mean, after you've paid this coming 6 months, for the following 6 months, you'll have that money going spare? Is that right?

Well, I think in that case, you need to work out how much extra that'll leave you per month. Because if it's a certain amount and you can't 'hide' it in your SoA on the forms, you could end up with more surplus which would be taken in any IPA.

We owe my mum and my hubbys mum money as well, do we put that down on the form? obviously they arent going to be able to right that off *(mores the pity)*but hopefully they will wait till were discharged before have to start paying that off.

You can by all means include it but as you say, it won't be written off so it's probably not worth including from that aspect.

Red1708

Hi MID

I also owed my parents money when I was declared BR. It isn't written off because the OR is unable to verify it via a credit aggreement. I was advised not to list it in my SOA as the repayments certainly wouldn't be allowed. I have however increased the amount of my Food & Travel slightly to cover making a monthly payment to them.

miserableindebt

Bakeybadoo wrote: »

Ok, that confused me. You mean, after you've paid this coming 6 months, for the following 6 months, you'll have that money going spare? Is that right?

Well, I think in that case, you need to work out how much extra that'll leave you per month. Because if it's a certain amount and you can't 'hide' it in your SoA on the forms, you could end up with more surplus which would be taken in any IPA.



You can by all means include it but as you say, it won't be written off so it's probably not worth including from that aspect.

so its in our interest then to pay another 6 months in advance until were discharged then?

miserableindebt

Red1708 wrote: »

Hi MID

I also owed my parents money when I was declared BR. It isn't written off because the OR is unable to verify it via a credit aggreement. I was advised not to list it in my SOA as the repayments certainly wouldn't be allowed. I have however increased the amount of my Food & Travel slightly to cover making a monthly payment to them.

thats great i wasnt sure if they put down a "proper" amount that theywork out for a family of 4, the way they do when doing a debt management plan, weve lived so long on handouts and mums helping etc, that ive no idea what is normal for a family of 4 for food, expenses, and clothing.

Bakeybadoo

Someone gave me this link to work out what you spend on what:

http://www.hmrc.gov.uk/manuals/recmanual/REC1820.htm

You can add in bits and pieces too, like car insurance, health insurance, kids pocket money, school trips, haircuts, life insurance, birthdays, pet insurance/food, sundries, emergency money.

You just enter that as one amount and explain a little on the BR forms, it may be looked at more closely by the OR after BR though so don't go way over the top. The OR expects you to live but not extragantly and they KNOW what's OTT and will trigger more investigation.

You have to sort of accept that if you have so much spare then you will pay an IPA. If you don't get an IPA, that's all well and good but expect the worse, hope for the best!

As for the extra money from renting, well you do have a chance to tell the OR if your circumstances might change so you might get lucky and only get an IPA once your rent goes to yearly or to be honest, I'd keep it as you are doing it and then you can figure in a monthly amount you save each month toward that 6 month lump sum.

angel1533

Re: Your Car
When I declared bankruptcy last year, I owned a Vauxhall Corsa, worth about £400.As I am registered disabled , I was assured that the OR would not take my car.I do not work because of my incapacity, but living in a small village ,with very little bus service, the car was my lifeline.Oh how wrong that information was, but the OR did allow me to BUY BACK my own car for £200, which my family paid for.Dont take anything for granted.

miserableindebt

angel1533 wrote: »

Re: Your Car
When I declared bankruptcy last year, I owned a Vauxhall Corsa, worth about £400.As I am registered disabled , I was assured that the OR would not take my car.I do not work because of my incapacity, but living in a small village ,with very little bus service, the car was my lifeline.Oh how wrong that information was, but the OR did allow me to BUY BACK my own car for £200, which my family paid for.Dont take anything for granted.

ouch your the first to say this, sounds like you got a nasty OR!! oh it just shows, its all a risk isnt it?