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Bankruptcy information
wezza7
Posts: 7 Forumite
Hi there. I'm looking for some advice on bankruptcy. I have gone through all my financial situation with a debt help company, debt3forme and they have advised an IVA. I've asked about bankruptcy as a friend has done this and feels it would be the better option. The IVA company have said that if I were to go bankrupt then I would have to give up my car. I currently pay the finance but the finance is in my wife's name as I am unable to get credit. I use the car to get to work. Its current market value is around £4000. Can I declare bankruptcy and keep the car?
Thanks.
Thanks.
0
Comments
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The finance is in your wifes name and your wife is the registered keeper?
On that basis your wife will be able to keep it as it is hers, but how do you propose you afford to continue the repayments on it after the OR has been through your finances and decided that you are not allowed to keep £X per month to service somebody elses debt?0 -
In her name and the keeper. Yes.0
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In her name and the keeper. Yes.0
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OK, i added a bit more to my post.0
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Contact Stepchange or citizens advice they will give you honest advice not push you to an IVA unless it's the best for you0
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