DRO and buy a car?

maxmycardagain

When would it be appropriate for someone on a DRO to buy a car of £5000? 

They have a DRO due to end in 6 weeks and have a job offer requiring reliable transport

(not me could i point out)

stu12345_2

where are they getting the money from, is it an inheritance a windfall, family gift, compensation .
if it takes them beyond the £2000 limit on savings,this must be reported which will end the dro early.

you need to explain here the  correct source of the money or cannot give an accurate reply.

if it is from an inheritance , here is what will happen
https://debtcamel.co.uk/inherit-dmp-dro-iva-bankruptcy/comment-page-1/. or from another source

https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/debt-relief-orders/while-a-debt-relief-order-is-in-place/can-your-debt-relief-order-be-stopped/

can they wait until dro ends before they get this money? or is it coming now and due now?
 can they use taxis until they save up £5000  in their new job, once the dro has ended 

maxmycardagain

stu12345_2 said:

where are they getting the money from, is it an inheritance a windfall, family gift, compensation .
if it takes them beyond the £2000 limit on savings,this must be reported which will end the dro early.

you need to explain here the  correct source of the money or cannot give an accurate reply.

if it is from an inheritance , here is what will happen
https://debtcamel.co.uk/inherit-dmp-dro-iva-bankruptcy/comment-page-1/. or from another source

can they wait until dro ends before they get this money? or is it coming now and due now?
 can they use taxis until they save up £5000  in their new job, once the dro has ended 

 As it happens (now) im buying the car now, ill have the invoice in my name, he can be the V5 keeper, a taxi would cost £300/week so thats a no go

it looks like his first wages will be paid after the DRO ends

 

stu12345_2

the v5 is the registered keeper , but not always the owner.
 so you will own the car and let him drive it, that seems ok then. and I take it he will buy it off you eventually 

maxmycardagain

stu12345_2 said:

the v5 is the registered keeper , but not always the owner.
 so you will own the car and let him drive it, that seems ok then. and I take it he will buy it off you eventually 

sounds like a plan