Car issues while bankrupt

farmerlamb12

We are 4 months into bankruptcy (sequestration) and our car is off the road, likely to cost more than it’s worth to fix. We live very rural and rely on the car for essential journeys to work and have a disabled child. We cannot function without a vehicle. What are our options? Can we finance a replacement vehicle? We will be paying our debtors contribution for 4 years and obviously need to keep our jobs to be able to make payments.

Isthisforreal99

The harsh reality is that

1. No reputable lender will touch you with a bargepole and
2. You are probably not permitted to take any further credit as part of your bankruptcy

Is motability an option for child.

fatbelly

It sounds like you are in Scotland. Rather than the Official Receiver, I understand that you are under a trustee, who has clearly accepted that a car is necessary for you. So you need to run this past them and maybe report back here on the outcome. Most of us here are more familiar with the English system so it will be a learning point for us too.

farmerlamb12

Yes, the trustee has agreed that the car and fuel payments are necessary for our employment as there are no public transport options so I will contact them to discuss. If we can’t get to work then we will have to give up our jobs thus no longer being able to pay them! How do other folk in our situation manage? Our car is 10 years old and repair costs will be more than the vehicle is worth.

farmerlamb12

I understand all this but was hoping to get feedback from anyone else in our situation. Rock and extremely hard place! Our car has broken down 4 mths after agreeing bankruptcy (due to negative equity on a property not related to overspending in any way) and we can’t get to our jobs without it.

MEM62

Our car is 10 years old and repair costs will be more than the vehicle is worth.

Unless you are talking about thousands to repair a £500 car the cost of repairs compared to the value of the car is irrelevant. You buy another cheap car and that comes with risks - repair your own and it is a known entity. i.e. You know what the issues are and they have been addressed / repaired. So the question is, can you fix the car for a reasonable cost?