Possible Loss of Car

Itsahardlife

B/R looming on, Friday, have filled forms in with CAB but really worried about losing the car, worth about £2000 and used for getting to work for me and partner and getting child to nursery and back. Partner is suggesting doing them again and leaving car details off or saying its in his name.
Any advice please?
Have they a way of finding out if I dont include it?
I realise this is dishonest but we will be in a right mess without it and I am sick with worry.

fermi

The OR's office will normally contact DVLA to see if any vehicle is or has been registered to you.

Plus if they see any car related expenses in your statements and budget and you have not declared one (or access to one) then they would start to ask difficult questions.

Always best to be honest and up front.

If the car is genuinely essential for work and domestic needs and not just convenient you should be able to keep it. But it is up to you to make and put forward a case to the OR why this should be so.

caseyj

Hi
tell them its worth about £1500-£1700 and says its not in very good condition,i think they will let you keep it no matter what as its for work,

tigerfeet2006

Here is some information for you.
http://bankruptcy.informe.com/cars-and-bankruptcy-dt72.html

Is it just you going BR or both of you? Who is the owner of the car?

philnicandamy

caseyj wrote: »

Hi
tell them its worth about £1500-£1700 and says its not in very good condition,i think they will let you keep it no matter what as its for work,

Not always so i'm afraid......you cant just tell the OR you have a car worth £XXXX the OR can and would have an independant valuation done if he/she thought one was needed they dont always take your word for it, cars are such a difficult topic and it seems wrong to have to fight & put up a case as to why you need one....do what fermi & tigerfeet suggest be open & honest and hopefully things will work out ok

tigerfeet2006

caseyj wrote: »

Hi
tell them its worth about £1500-£1700 and says its not in very good condition,i think they will let you keep it no matter what as its for work,

There has been a case recently where someone had to buy back a £500 car :eek:

Itsahardlife

Just me going b/r as partner had to do this last year but we couldnt afford both fees!
Car in my name, its on hp and we owe about £4000. Does it make a difference if car on hp or outrightly owned?
Condition of car not good as has lots of bumps, scratches, dents due to accident that I couldnt afford to claim for ( ie excess )
I use it to get to work myself but more importantly to take my partner to work and back as there is no public transport before a certain time in the morning and again after a time in the evening. Also take my youngest child to nursery in it as that is in the opposite direction of where I work. I work on a temporary basis too so location can change.

G-G_4

I'm pretty sure that if you have it on finance secured to the vehicle, and there is no equity in it, so to speak, then as long as you can afford and have maintained payment you may be able to keep it running..

Sorry if this is wrong, but when I was deciding what to do with my financed car I thought I had read this.

Your car is on HP though, so rules may be different.

Good Luck & don't worry, everything will work its way out, it always does.. Keep your chin up and think postive thoughts.. x

G-G_4

Also, if they do want the car then they can sometimes allow you a certain amount to buy another car, as it sounds as if life would be pretty tough without a car.. I think you have a good case to keep it.

fermi

If there is more finance outstanding on the car than it is worth then the OR will normally have no interest in claiming it or seeing it sold.
You would then have to justify the continued payments towards the finance and running costs in the same way as you would have above. That continued access to the car is essential not convenient, and that the repayments are reasonable.
The OR would then decide if they are happy for you to continue to pay this and include it your I&E.

If the OR decided they are happy with you continuing to pay towards the car then it would be up to the HP company to decide if they are happy with you continuing.

Lots of HP contracts have a clause that say the contract can be ended if you go BR and they can take the vehicle back, but in practical terms many will allow it to go on if they will receive more in payments by doing that.

Lots of ifs/but there, but that is normally the case with cars and BR.

fermi

G-G wrote: »

Also, if they do want the car then they can sometimes allow you a certain amount to buy another car, as it sounds as if life would be pretty tough without a car.

Normally only when there are (or likely to be) sufficient funds realised from the sale/auction of the vehicle.

In this case there is £4000 of outstanding finance secured on a £2000 car. So no pot of cash for the OR to do this with.