Bankruptcy belongings of the spouse.

pendramoon

Hi I am thinking to have bankruptcy. I have around 25k debt. My wife has a nice car a BMW from 2010. I don’t know if the OR would be interested in my wife car or not. I don’t drive never have and the car is on her name. We do have a joint account with a 300 overdraft.

bradders1983

If she bought it (and can prove so) then there is no way the OR can remove it from her. Also helps if she is on the logbook as the registered keeper, although this doesn't imply ownership per se.

Obviously this doesnt apply if you have recently "sold" the car to your wife in an effort to dispose of assets before going bankrupt, this is heavily frowned upon. 

pendramoon

Thank you for your answer. She is on the paperwork since she bought it from the person she bought it from. 

pendramoon

What documents the OR accept to prove ownership?
I don't even have a drivers license and never driven a car. 

bradders1983

pendramoon said:

What documents the OR accept to prove ownership?
I don't even have a drivers license and never driven a car. 

A reciept?

pendramoon

she bought in cash from a person, I don't know what receipt they would provide

bradders1983

Hmm. Well the fact you cant even drive and her name is on the logbook stand you in good stead, to be fair with the car not even yours I believe you dont even have to mention it although you may get asked the question anyway.

luvchocolate

I suggest you open a basic bank account In your name. 
Any joint account you have will affect her credit rating. Best to have no financial links. 
Do you own your home or rent?

pendramoon

I rent my house.