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Confused re cars....

Merry_Gentry
Merry_Gentry Posts: 3,627 Forumite
in Bankruptcy & living with it
http://www.debtquestions.co.uk/debt_forum/viewtopic.php?f=14&t=25096

I thought if the OR took your car, they only gave you £500 to buy a new one?? :confused::confused: Can anyone help me on this one please??
Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
"He who laughs last didn't get it!" :rotfl:BSC 134

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Comments

  • JCS1
    JCS1 Posts: 5,336 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Up to £2,000
  • Merry_Gentry
    Merry_Gentry Posts: 3,627 Forumite
    So they give you up to £2,000 if your car is worth more than that?
    Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

  • JCS1
    JCS1 Posts: 5,336 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Merry_Gentry wrote: »
    So they give you up to £2,000 if your car is worth more than that?

    As long as you can justify the need for it. Also depends if car on finance and what type.
  • Merry_Gentry
    Merry_Gentry Posts: 3,627 Forumite
    Thanks JCS, that really helps :)
    Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

  • philnicandamy
    philnicandamy Posts: 15,685 Forumite
    10,000 Posts Combo Breaker
    Bit of a read here

    http://bankruptcy.informe.com/viewtopic.php?t=72
    We all die. The goal isn't to live forever, the goal is to create something that will
  • Merry_Gentry
    Merry_Gentry Posts: 3,627 Forumite
    Thanks Phil - I have read that but I get muddled up about figures, etc :(
    Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

  • wba31
    wba31 Posts: 2,189 Forumite
    In short - if you need a vehicle the OR will allow you to have a vehicle. the general guideline of a maximum value that you can keep is £2000, but then this varies from OR to OR. if your car is worth £4000 for example, the OR may give you for a new vehicle. but it is all case dependable. if you do 40000 miles a year for work, a lower valued vehicle may not be suitable. if, like me, you do not NEED a car, its just useful, the OR would take it without providing money for a replacement...
  • Merry_Gentry
    Merry_Gentry Posts: 3,627 Forumite
    Thanks WBA, that's very clear :)
    Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

  • ribbit_2
    ribbit_2 Posts: 12 Forumite
    Thanks for that everyone, from what I had read I thought it was £500 towards a vehicle too. Was worried about that as I have an ultra reliable diesel at the moment which is cheap on fuel, tax and insurance - visions of ending up with an old banger costing a fortune to run!
    We are continually faced with a series of great opportunities brilliantly disguised as insoluble problems.
    - John W. Gardner
  • Merry_Gentry
    Merry_Gentry Posts: 3,627 Forumite
    ribbit wrote: »
    Thanks for that everyone, from what I had read I thought it was £500 towards a vehicle too. Was worried about that as I have an ultra reliable diesel at the moment which is cheap on fuel, tax and insurance - visions of ending up with an old banger costing a fortune to run!

    Ultra reliable and suitably posey!!!! :p:rotfl::rotfl::rotfl::rotfl:






    P.S. I'm allowed to be mean to him, we're married!
    Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

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