Bankruptcy

webbe

Can anyone advise, i am on verge of bankruptcy and the large loan i got i inflated my earnings..my sisters neighbour did this and went bankrupt, however the OR looked into the history of the application and discovered a lot of discrepancies, the girl in question was taken to court for fraud and only marginally avoided prison because she had 2 children. that is a concern although i wonder how many self-certificated mortgages are based on the true earnings???

tattycath

webbe wrote: »

Hi im on the verge of bankruptcy and all i have tomy name is a car worth 2,900 (private) if i sold the car to my girlfriend for £2k does anybody think that the OR can try and take the car ?

Hi. I went bankrupt over a year ago. I thought about selling my car at the time, however, I decided against it when a friend of mine said that the OR let her keep her car when she went bankrupt. I rented a house so I had no assetts as such to repay the money owed. I declared that I had a car but I have have 2 dependents and was due to move, I said that I would need my car if I was to work etc and the OR said that I could keep it-It was worth about £2200k at the time.
I hope this helps.