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Buying a car when you're bankrupt/sequestrated
Black_Eyeliner
Posts: 156 Forumite
Can anyone clarify to me the rules about buying or acquiring new assets when you've already been made bankrupt/sequestrated?
I'm only planning on spending about £500 on an old banger.
Also, will I have problems getting insurance?
I'm only planning on spending about £500 on an old banger.
Also, will I have problems getting insurance?
0
Comments
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I'm not fully sure on the rules about the car so won't comment, but as for the insurance, That'll be no problem at all, I changed companies ( to save money ) and they had no issues with my BR.
IanI had debts, my circumstances changed, I tried but couldn't pay them, I dealt with them in the best way I could.........
BR - 10 -10 - 2007 11.05 am
Discharged 07 - 05 - 20080 -
Call your trustee, you have to advise them if you are buying an asset and as you are legally bound to have road tax, mot and insurance they will want information or a form signed to say that you have all this. They will also want to know where you got the £500 from.0
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