Car question

jcwn03

Hi,

I have been looking into declaring myself bankrupt for some time but I have kept putting it off as I'm worried about my car. The car I have use of actually belongs to my mum, she purchased it and this can be proven as she has receipts etc in her name.
What worries me is that when taking into account expenses for an IPA I would not be allowed the running costs for the car (tax, MOT, repairs, fuel and insurance are all paid by me) I do not necesarrily need the car for work as I could get the bus although it would be up to 3 buses for some of the locations I work at, however I do really need the car 1, sometimes 2 times a week to take my daughter to school and pick her up.
I am seperated from my daughters mum and we live approx 10 miles apart.
I have responsibility for taking my daughter to and from school every Monday and I go to work in between school hours, again approx 10 miles away from school.
My journeys on a monday involve 10 miles to take her to school, 10 miles back to work (I start work 45 mins after I've dropped her off) and then 10 miles back to school to pick her up, 10 miles back home for tea, 10 miles to take her to her mums when she is home from work and finally 10 miles back home for me! approx 60 miles just in this one day every week and not possible on a bus due to timings. Ocassionally I do this couple of times a week if her mum can't get her to school for some reason.
I'm worried that the receiver would not be understanding of my situation and would not consider that the car was essential and therefor not allow me the expense of running the car when considering an IPA.
If I were to declare myself bankrupt and they decided that they would not allow the car it would leave me in an impossible situation when it came to my weekly routine.
Sorry if this post is difficult to follow, I was hoping someone had some experience that they could share with me to help me with my desicion.
Thanks in advance!

JACKHANDYMAN

From what you have explained, The car is actually not owned by you and therefore cannot see it being part of your assets, which cannot be included!
As long as your mother owns the vehicle and it was loaned to you! I would not worry. Just calculate your public transport costs over the year and will probably cover the car expenses anyway

jcwn03

Thanks Jackhandyman, I wasn't too worried about it being taken as an asset as it's not my asset for them to take, It's more the running costs but I hadn't thought of that I'm guessing public transport for that kind of journey would work out pretty expensive. I'll have a look into that now. Thanks again for replying.