Bankrupt need help.

bankrupt07

Hi everyone.

Didnt know where to put this, so please move if needed, sorry.

We became bankrupt in Dec 07 with debts of £27'000.

We are currently recieving Incapacity benefit due to my wifes ill mental health. She has been to see the DSS doctor and been 'signed off' for 12 months.

We are council tenants with no assests or valuable belongings, just our car, valued at £500.

I wrote to the official reciever (as advised) to appeal to keep my car as it is needed desperatley to get about our daily life.

This appeal has just been turned down. But i have been offered a chance to get a third party to make an offer for the car.

Its fully insured, 5 months left on tax & MOT, and completley roadworthy.

My son is 19 and at university, he lives with us at home, could he make an offer ? And if so how much do you suggest offering ?

Weve been using this site for sourcing advice on bankruptcy, many thanks for all the informative help weve found here.

Keep up the good work

kate1976

You may find the help you need here http://forums.moneysavingexpert.com/forumdisplay.html?f=136

Addicted2Chocolate

Sorry your appeal has been turned down. Any 3rd party can make an offer, your son, friend or family. They can offer anything, but for a £500 car I woudl suggest a starting offer £100. This should be considered a reasonable offer, as if they instructed agents to collect vehicle and sell at auction, the costs would likely exceed the amount raised at auction, meaning there would be nil benefit for bankruptcy estate or may even incurr a debt balance.
You can offer less if you like but make it clear why the offfer is low: ie son at uni with low income.

bankrupt07

Addicted2Chocolate wrote: »

Sorry your appeal has been turned down. Any 3rd party can make an offer, your son, friend or family. They can offer anything, but for a £500 car I woudl suggest a starting offer £100. This should be considered a reasonable offer, as if they instructed agents to collect vehicle and sell at auction, the costs would likely exceed the amount raised at auction, meaning there would be nil benefit for bankruptcy estate or may even incurr a debt balance.
You can offer less if you like but make it clear why the offfer is low: ie son at uni with low income.

Many thanks, if my offer isnt accepted will they allow me to make an increased offer do you think ?

bankrupt07

Could a MOD please move this to the wnnabedebtfree forum, many thanks, sorry for not spotting it earlier.