bankruptcy and my car and DH

elsie2

hello can someone please advise. OR phoned yesterday to go through income and outgoings and my vehicle, OR told me last time they rang that as the car was worth approx £4000 they would be taking it from me, so when they rang me yeaterday i explained that i was worried how i was going to, get to and from work and do my food shopping and keep dr and hospital appts as this is the only vehicle in household and i live in rural area i.e no regular buses i have checked and there are no buses that are able to get me to or from work at the times i begin and end my shifts. they now said that as my husband (who is not gone bankrupt) uses the car just as much as my self i have to get an independent valuation from a dealer to see if my "half " of the car is worth being pursued for by them?
they also asked what my husband earns every month, even though i had included the allowance that i get from him every month, i said that he himself has his own creditors to pay but this made no difference to them? is this correct can anyone help

PippaGirl_2

If you need the car for work a vehicle may well be exempt and be allowed to be owned and run, but the value of it would normally be around £1000 so normally the car would be collected, sold and £1000 given back to you to purchase a cheaper car. Someone else can buy the beneficial interest though instead. It seems from what you say the OR accepts the car as jointly owned by yourself and your dh, so your share is £2000 if the car is valued at £4000 as you think.

Is your dh paying 50% of the household expenses? By that I mean half (at least) of the mortgage or rent, of the utility bills, water, landline and internet, TV etc. and car running costs? Often the OR don't ask for the income of the non BR person as long as they are paying a minimum of 50% of these expenses, if they are paying less then they are entitled to ask for evidence that their income is less than yours and that is why they are paying less.

alastairq

to follow Pippa's excellent comments, I suggest obtaining a realistic [ie lowest] valuation of the family car. This may be trade-in value, or auction value...and I suggest you ensure it accurately reflects the true condition of the motor....warts and all.

So, put away the rose-tinted goggles, and truly hilite the wear and tear, condition, etc....to the unsuspecting dealer.

What you are after is, achieving a 50% valuation that will leave very little after £1000 has been deducted []from that value.].

If that is not entirely successful, then I'm afraid [dear hubby??} may have to stump up an agreed amount to purchase the OR's interest in the car.


SO...see how low you can get a valuation from a dealer......in writing....work out how much over £1000 it will be [50%]...and if very close, go with this to the OR.

If a few hundred adrift, make an offer of cash [they don't accept cheques... trusting lot, aren't they?]....that is low, but reasonable...and start negotiating from there if the OR isn't playing ball.

elsie2

thanks for quick reply no DH does not pay half as i am the bigger earner. should i send proof of this to the OR? as for the car they said that unless my half of the car is worth £2000 or more then they would have no interest in it so a value of £4000 or less is what valuation i was told by them would enable me to retain the car. I was prepared for it to be going on what they said in first phonecall, but was worried as i didn't know how i was to get to and from work inbetween the said £1000 i would recieve for a cheaper alternative : (

PippaGirl_2

That'll be why they need evidence of your dh's income then, yes send it to them so they can see why he is paying less than half.

As Alistair says, get a low valuation for you car, make sure you tell the garage everything the car doesn't do right. For instance none of my digital displays work so you can't see the current mileage, the fan only works on full blast, central locking doesn't work and CD player doesn't work and the on/off/volume knob for the radio is missing so it's a mission to adjust the volume. I'd be telling the garage all that while asking them for a valuation on my car ready for the OR.

elsie2

well took my car to the dealer today and for a retail price (not part ex) they valued it at £2000. the £4000 figure i gave OR is based on a part ex offer i got last year so not worth as much as i thought.

PippaGirl_2

Excellent, did you get that in writing from him? Sorted, you should be fine.

arcon5

Remember to get a few, otherwise the receiver might see it as suspicious that the value has suddenly halved the second they show an interest

Contracts_Engineer

for a truly awful quote I used webuyanycar.com. Make sure you list all the mileage, any dents scrateches faults etc.

My 2002 Diesel astra with only 60000 on the clock came back at £800 and thats what i used for the OR and they were not interested in it (even though I have a company car!!!!!!!!!!!!!!!!!!!!!)