Thinking of bankruptcy don't want to lose my car

mysterio_2

sadly no two OR's are the same...you were lucky

what one does isnt always a guarantee another will

alastairq

the fact it had not MoT, and was not taxed [I hope it is SORNed?]may have had something to do with it too?

Once an OR has decided to realise a car as an asset in BR, the OR becomes 'responsible' for that car.

Effectively that may mean, if the car was in fact contravening the Law as it stood, then the OR might have to assume responsibility. This they do not want to do.

dojoman

darren_clarke wrote: »

you will be able to keep car, as if its only worth £700 prob cost about £300 in fees to sell and isnt worth it, i got told that a vehicle had to be worth over £3k for them to be intrested in selling it

Who told you this?

Eve1975

It was off road at the time (SORN). Obviously that was a long time ago I went banktupt (coming up 6 years). That car is long gone and have another now which is on the road (tax and MOT).

Eve1975

Just to say I did expect to lose it. I was pre warned by someone I knew who went bankrupt who said you need a very good reason for them to let you keep it whatever the value.

It was a great help keeping it as I did get back into employment and I did need it.

JCS1

Eve1975 wrote: »

It was off road at the time (SORN). Obviously that was a long time ago I went banktupt (coming up 6 years). That car is long gone and have another now which is on the road (tax and MOT).

If a car was SORN, then it would normally get taken (as by being off the road you "proved" it wasn't needed). I think you must have pleaded a very good case !

debt_doctor

JCS1 wrote: »

If a car was SORN, then it would normally get taken (as by being off the road you "proved" it wasn't needed). I think you must have pleaded a very good case !

That is a very good point!

DD

alastairq

However, the IS guidelines 6 years ago were applied very differently compared to today.

Therefore, advice based upon experiences of BR some time ago will need to be reviewed before being offered?

I have the same problem....When I petitioned BR, surplus IPA rules were far more leniently applied compared to today...although today, items taken for granted on an SOA would have been rejected in years past.

Eve1975

Must have been very lucky then. It was back on the road not long after as a temporary glitch whilst trying to sort out finances and bankruptcy and I think my logic at the time was surely they would not want a car that was practically worthless.....but I was warned that whether it was worth anything or not find a very good reason as to why you should need it/keep it.

Whitewinston

Is it best to fill in bankruptcy forms yourself or through a company?