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Exempt vehicles in bankruptcy
fatbelly
Posts: 21,978 Forumite
The Senior Official Receiver (OR) has confirmed that internal guidance to ORs will shortly be updated to say that ‘exempt vehicles worth less than £2,000 are unlikely to be realised’ in bankruptcy. This brings bankruptcy into line with the June 2021 increase in the DRO vehicle disregard. Exempt vehicles worth over £2,000 will still be sold and there is no lower limit where a vehicle is not exempt.
1
Comments
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How recent is this comms? The limit was only increased to £1250 about 2 weeks ago.Just odd that it’s to be raised again so soon.0
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I posted it within minutes of receiving it2
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Good news then!0
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