Can we sell our car whilst BR?

Birdie23

OH and I were both declared bankrupt in Oct 13. Basically we have an old car, which at the time I was using to get to work but I am now unemployed and can't afford the car any more.

Do we have to inform the OR if we sell it?

Thanks in advance.

samurai1

Don`t think it will be a problem selling your car, unless its a 100k supercar.
The thing you have to consider is, if I remember rightly when I went BR, is when I filled out my income/expenditure for the OR I was allowed to put down things like:
car insurance.
car tax.
petrol.
car maintenance etc...
If your no longer paying out these bills, can the OR reassess you?

philnicandevan

all depends if the car was exempted at the time...

you have to inform the OR of ANY financial changes within 21 days so tell them your selling the car along with your unemployment status as well..

Birdie23

Hi, thanks for the replies.

At the time of going BR my husband had the use of a company car and we own an old car which I use. However, our car is registered in my husband's name! This meant he 'technically' had the use of 2 cars, so to stop the OR taking it, we had to pay £800 to the OR (the book value of the car) so we could keep it - and I'd be able to get myself to work!

Since going BR we have moved to another part of the UK, I'm struggling to find a job and really can't afford the upkeep of the car anymore. We're just hoping to get back the £800 (to give back to my Brother in law, who paid it for us) and then cut the expense of MOT, TAX, Insurance etc.

Thanks again.

Helpmeoutofthismess

Hi, if your brother in law paid the OR £800 so you could keep the car doesn't that make it his car now which he has just let you have the use of? I'd give the OR office a ring to check but it doesn't seem fair to me that you should have to give them the money twice!

H x

Birdie23

I think you're right, I'll just have to contact the OR and see what she says. .

Thanks.