Car? Options now bankrupt

stanger66

hi again,

now I am bankrupt I am expecting the car to be repossessed as it cost £350 a month finance Maybe they will allow me to keep it. My family member has offered to purchase a car for me to get to work etc and I pay her back for less then the car finance.

Is this allowed? It’s all above board nothing dodging.

Just thinking if I can reduce the monthly car payment amount.

stanger66

So the car would be brought in her name.

IOWJJBTM2025

Does the car belong to the finance company - if so then your friend would need to settle the loan?

fatbelly

That's fine. But monthly payments to her while you are undischarged would not be legitimate expense.

Car finance is often accepted by the official receiver. So don't jump into Plan B straight away

stanger66

thanks all just don’t want get into trouble

3Commando

hi, how have you gone in with this? Had your OR interview yet?

stanger66

interview is next week so fingers crossed

luvchocolate

Please let us know..it also helps others in a similar position. Good luck