Cars and BR

Sunshine2114

Me n my husband r going BR SOON... We own a car each .. No finance on hem .. My car was purchased by my dad for me n registered in m name and my cars have all been bought b my dad since I was 17 n I'm 30 now n I aid him each month till I turned 30 n he bought me a cheaper car outright.. So can an OR take his ? It's 7 year old car a C1 to lower my running costs .. It's worth 2k if that ... My hubby has a car he bought n finance finished this year .. It's 8 yrs old n has a few problems so not great but runs ... Again worth 2.5 k

We both work n drive to work not on a bus route to work and have a child tat needs along o childcare and picking up each day .. Also a stepchild that needs puking up n thin to school twic a week again not in bus route ...

So would hey take our cars ? As with no car I can't work as m expected to travel at times between locations as is my partnerv

alastairq

well..firstly, has your Dad any proof of purchase of your car?

If so, then he is the actual 'owner', and you are simply the 'user'....thus it is not your asset, and the OR will have no interest.

Your OH may have his car taken, and be given £1000 to buy another...


That is..if he can argue for the car to be exempted as an asset?

http://www.bis.gov.uk/insolvency/Publications


scroll down to the publication 'what will happen to my car?'' for information regarding exemptions...