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Selling Car during bankruptcy

Hi, I'm 1 month into bankruptcy. I've been allowed to keep my car as its value is low around £500 and I need it for work. Of late I've been having a lot of problems with it, mechanic said I will be lucky to get another 6 months out of it. I've been offered a car from my mom, I sell my car on and give her however much I get for it for the car. Her car is worth about £700 and will cost around £16 more a month to insure, less to tax and no real difference in fuel. No problems to keep throwing money at either.

Can I go ahead and do this as a straight forward swap kind of thing? Will the OR want the money made from my car? Doubt there will be any paper trail of my money going to my mom for the other car? Or as my car is exempt do I have to tell them at all?

Would be grateful for any insight about this as I need to let her know in the next few days and as far as I'm aware I can't contact insolvency office via phone on weekends!

Comments

  • fatbelly
    fatbelly Posts: 23,651 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    I'd run it past them on Monday.

    They know what car you have and have exempted it. There shouldn't be any problem with your plan but it's good form to let them know what you are doing.
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