car in bankruptcy

Mummy_george

hi guys more advice please, I was allowed to keep my car in the bankruptcy its a 1999 car so old.
today the exhaust decided to fall off on me, so need to get a cost on it however the tax is due saturday and mot next month, dont know if it would pass or not, so depending on how much the exhaust costs is weather or not we will fix it or scrap it. if we scrap it do i need to inform OR or give them the money from the scrap being that they didnt take it into the bankruptcy or is it mine to do what i like?

TheGardener

If its not too uneconomical I would try and get it fixed - if you were allowed car running costs and no longer have a car then in theory you need to tell the OR that your financial circumstances have changed and you have more 'surplus' income but no, I don't think you need to tell the OR you got 50 quid from the scrap yard

Alternatively - if you have an IPA then ask for a payment break so you can afford to get the car back on the road.

Mummy_george

thanks if everything wasnt due i would certainly get it done but tax, mot and insurance all due within next 2 months so really could do without the extra cost especially as newly bankrupt and adjusting the finances as it is, plus no option f the monthly payment for insurance currently no ipa has been set and am in receipt of benefit so not sure if one will be or not. typical that it happens when everything i due! :mad:

fermi

Usually they would not be interested, especially at scrap value.

National_Debtline

Hi Mummy george

Mummy_george wrote: »

thanks if everything wasnt due i would certainly get it done but tax, mot and insurance all due within next 2 months so really could do without the extra cost especially as newly bankrupt and adjusting the finances as it is, plus no option f the monthly payment for insurance currently no ipa has been set and am in receipt of benefit so not sure if one will be or not. typical that it happens when everything i due! :mad:

If by the above you mean that your income consists purely of benefits, then normally no IPA would be set up. Plus as the other guys say, a few £ for scrappage is neither here nor there.


Are you looking to keep a vehicle of some sort or is it expendable?


Dennis
@natdebtline