Gifted 1 £2000 car - will it be taken off me

wesley4

Hi,

I am to be gifted a £2200 car. My current £700 car is being sold - so it's really £1500, I suppose. The car I have at the moment is giving me some mechanical problems.

My question is that since I am in deep financial trouble and am looking at bankruptcy, is this car likely to be taken off me by the receiver? Is the donor likely to be pursued?

I use a car every day to get to work although I could theoretically use public transport - except for Sundays where I would be looking at £14+ in taxis - is the ability to use public transport, buses, going to be held against me as a reason to 'lose the car'?

I don't want to be selfish about it - I have considered giving up my car. . .

The car and insurance etc would be in my name, would it 'help' if the car was in the donor's name? Would that gove me any protection? Would it even be ethical?

I am based in Northern Ireland if that makes a difference,

Thank you for any help you can give

Scarlett.1974

Good morning Wesley

I'm very new to all this myself, so I can't really answer your question I'm afraid. The issue with cars, "will I be allowed to keep it or not" is one of the most uncertain part of BR because it is up to the individual OR that's dealing with you. Having a strong case for reasons why you need the car ('need' being the important word here, not 'want') may very well help you, but it's quite a murky area.

Have a look at this thread here, it should give you lots more information:
http://bankruptcy.informe.com/cars-and-bankruptcy-dt72.html

Scarlett xx

smiler71_2

Hi
I’m just dealing with the issue of my car with OR. They will allow you to keep a vehicle with an approximate value of £2000, so you should be ok. If the car is worth more you will either have to have a friend/relative to realise the balance over the £2000 or the OR will authorise an agent to collect the car and sell it at auction.
Hope this helps.

tigerfeet2006

I would keep the car in your friends name and you pay for the mot, tax, petrol etc.

Although as a rule of thumb it is £2000, it is up to the individual OR to decide. We have had anectdotal evidence of people with cars worth less than a £1000 neing taken and cars worth more being kept. The trick is to prepare a really good case for keeping it.

Homework

Northern Ireland Insolvency has it's own Insolvency Service

http://www.detini.gov.uk/cgi-bin/get_util?site=8&util=3

has information leaflets that will give you some information.

Scotland rules are different to England and I'm not sure how NI rules are in comparison. I think Scotland looks at anything over £1000 once removal fees and auction fees are taken into account

wesley4

Thank you folks for the advice :T

debt_doctor

Hi, it is ok to have the use of a car that you do not own. I would advise that the original owner retains ownership of the vehicle and lets you use it. They might want to'gift' the car to you once your BR has ended !

Best

DD