Buying a used car while Undischarged?

Reddington

Just a quick query. I'm an undischarged Bankrupt on IPA for three years. I'm only about six months in to Bankruptcy but with what disposable income I'm allowed to keep, I've managed to save enough for a small used car. Around £600 or so. Just a run around for shopping etc.

But I can't find anywhere online that advises if I'm allowed to own a cheap car during this time.

I had a car when I went bankrupt on a PCP deal which was taken away and as I live within walking distance to work, I didn't rely on one but it would be handy to get a runaround.

Does anyone have any experience with this?

mwarby

Sounds like OR felt you didn't need a car, so unlikely to allow motoring expenses in calculating your IPA. The expenses are likely to be significant (tax, insurance serving, mot, mot repairs) esp on an older vehicle

Your OR will likely also be interested in how you managed to save so much

Minkym00

Two problems I can see here:

1. If you live within walking distance to work and have managed so far without a car, they will argue you don't need one.
2. If you've saved £100 a month then they will consider that you have £100 a month surplus income they can claim.

I'd leave things well alone until you are discharged if I were you.

sourcrates

Most definatly agree with post #3# above, wait 6 months, you will be free to do as you wish essentially, that can of worms may look tempting now, but it will taste revolting.

Reddington

I see. I did expect it might be an issue. I was tempted to contact the OR and see what they say but I think seeing as the consensus is pretty much unanimous above, I'll wait the extra six months.

Thanks everyone for the advice.