Car repossessed

peterparker12

Hi,
My car has been repossessed as an asset in bankruptcy. Whilst it was classed as exempt, it was worth much more than 1k, so it has been taken for sale and I have been offered 1k to buy a car.

The problem is it was a car through work and now work are saying, as they always have, that any car used for work purposes must be less than 5 years old for reliability and professionalism reasons. 

The OR has said that I need to stick to 1k but I will now lose my job as the car will be unsuitable.
I have told the OR who has been nice but I feel will refuse a request for a larger pot to buy a car.

Can I do anything? I don't want to lose my job and the roof over my head

Morfx

peterparker12 said:

Hi,
My car has been repossessed as an asset in bankruptcy. Whilst it was classed as exempt, it was worth much more than 1k, so it has been taken for sale and I have been offered 1k to buy a car.

The problem is it was a car through work and now work are saying, as they always have, that any car used for work purposes must be less than 5 years old for reliability and professionalism reasons. 

The OR has said that I need to stick to 1k but I will now lose my job as the car will be unsuitable.
I have told the OR who has been nice but I feel will refuse a request for a larger pot to buy a car.

Can I do anything? I don't want to lose my job and the roof over my head

If this is "Work Policy" then this should be in writing somewhere, ask your employer for a copy and pass it onto OR.. 👍

peterparker12

Thanks. I will do

MrFrugalFever

How long with your BR term last? Is there an option to use a family members car for a short while providing you insure it correctly?

there’s always options in life.

peterparker12

That may well be an option. Without family I would lose my job. Crazy that that is the solution. 

peterparker12

My BR will be until Jan 2022

peterparker12

FYI the OR has replied no chance on the increase in allowance for work. Something has to give, unfortunately it looks like it will be a family member who saves my job, without whom my creditors would get no IPA. 

MrFrugalFever

Does your company not provide a company car option? That way you’d be taxed on a BIK and it would be considered an essential expensive to perform your job and couldn’t be taken away from you I don’t think.

Failing that your employer will need to consider making an exception for the duration of your BR, if it is just about ‘company image’ then perhaps they should be providing you with the financial means necessary to uphold that image, I would not expect my employer to dictate to me what material possessions I can and can’t own. The exception to this, of course, is being a chauffeur or private hire/hackney carriage etc.

The_Real_Cheddar_Bob

MrFrugalFever said:

I would not expect my employer to dictate to me what material possessions I can and can’t own. The exception to this, of course, is being a chauffeur or private hire/hackney carriage etc.

It entirely depends on the context. If the OP is getting a car allowance, then this is common place. If part of the job requirements was providing your own vehicle of no more than X years old, again this is normal and ok. If this is just your commuting vehicle, seems a little odd.
I'm afraid OP, if your employer won't budge, then you need an alternative option. If the OR does allow this to happen, the flood gates will be opened for bankrupts to keep a lot of money in an asset out of their grubby paws. So that will be why the firm line.

peterparker12

The company gave a car and an allowance. They were surprised when the OR took the car that they thought they owned. They will be rewriting the car policy for sure. 

I'm sure they're are a lot of people on here who think their car is safe, when it isn't

peterparker12

So far my company are liking their wounds.i hope to hear from them soon.until then my mum has loaned me her old car.