Worried about losing my car...

rossireps

jan9912 wrote: »

No they wont take the car you can say you need it for work.

sadly its not as straight forward as that

luvchocolate

If you need a car the value they allow is £1000, however it costs them £250 to collect and sell and they need to make at least £500 after giving you the £1000 so they would possibly take your car or give you the option of paying the difference....if you see what I mean!! I was very lucky car value £1700 got to keep it O.R said it was borderline. Good Luck x

alastairq

Technically, the car is owned by your Father.....his CC statement, receipts, etc prove that.

The OP may well be the person named on the car's V5c, as the Registered Keeper.

If a car is an asset in BR [ie, actually owned by the BR], and cannot be exempted as an asset [see the rules in the stickies]....then the OR will remove the car, in whatever condition, to realise its cash value for the BR estate.

Every little bit helps offset the sheer costs of administering a BR estate.

savvy12

i went br about 4 years ago. at the time i had a superports motorbike and was allowed to keep it as it was my only form of transport - as i understand it, they arent much interested in vehicles worth less than around £3k, especially if its your only transport.

shedhead55

If your father has the purchase documentation in his name then he is the legal owner, your name on the registration document is that of the keeper, not the owner. The OR will investigate to see if there is any evidence of you actually paying your father for the vehicle but without such evidence is likely to conclude that you do not own it. You should fill in section 3:9 of the SOA stating you have the use of a motor vehicle not owned by yourself.

ILW

carloshoodios wrote: »

Hmmm...true...however I don't intend to be living here for much longer as it isn't fair on my parents. Also, I am pretty sure my credit rating is already shot to pieces from not making my loan repayments.

You have to declare bankruptcy for the rest of your life in some situations.

mynumber

carloshoodios wrote: »

I have my court appointment tomorrow for my bankruptcy hearing. I went to law school and took out an unsecured loan with Natwest for £25000. Unable to get a job afterwards (and realising being a solicitor wasn't my cup of tea) I was unable to make the repayments and ended up retraining as a teacher.

I am starting this week as a supply teacher and have a Corsa which my Dad paid for on his CC about 4 weeks ago at a cost of £1800. I have no other assets at all apart from this car which I haven't even started to repay yet. Is there a chance they will take my car?

Thanks.

Hi carloshoodios, I had my interview with or clerk on 14th Sept. I took out a loan for a car for my son, its worth over £4000. The clerk just asked who took out the loan or purchased it,( in your case it was your father). He wasnt interested whose name was on the V5,( registered keeper ). Hope that helps, good luck K x

haremscarem

Keep it simple, if your Dad bought it, it's his and you have use of it. The proof is there to prove this if queried further.

When I was asked if I had a car, I said no but had use of one. Provided evidence via email (literally just a 'Yeah, it's not mine') and that was satisfactory. They wrote to me saying they had no interest in any vehicles I use.

tiggerbodhi

ILW wrote: »

You have to declare bankruptcy for the rest of your life in some situations.

Enlighten us? some institutions may ask the question, but whether you are "legally oblidge" to answer and if it affects anything is another matter.

debtinfo

Yes if in a contract someone asked if you had ever been bankrupt then you would be legally obliged to answer yes. Although answering yes does usually have a lesser effect on the terms you get the longer down the line from the bankruptcy itself