We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Exempt vehicles in bankruptcy
fatbelly
Posts: 23,043 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
-
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
-
I posted it within minutes of receiving it2
-
Good news then!0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards