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    • Reddington
    • By Reddington 16th Oct 19, 2:36 PM
    • 5Posts
    • 0Thanks
    Reddington
    Buying a used car while Undischarged?
    • #1
    • 16th Oct 19, 2:36 PM
    Buying a used car while Undischarged? 16th Oct 19 at 2:36 PM
    Just a quick query. I'm an undischarged Bankrupt on IPA for three years. I'm only about six months in to Bankruptcy but with what disposable income I'm allowed to keep, I've managed to save enough for a small used car. Around 600 or so. Just a run around for shopping etc.

    But I can't find anywhere online that advises if I'm allowed to own a cheap car during this time.

    I had a car when I went bankrupt on a PCP deal which was taken away and as I live within walking distance to work, I didn't rely on one but it would be handy to get a runaround.

    Does anyone have any experience with this?
Page 1
    • mwarby
    • By mwarby 18th Oct 19, 10:52 AM
    • 1,022 Posts
    • 390 Thanks
    mwarby
    • #2
    • 18th Oct 19, 10:52 AM
    • #2
    • 18th Oct 19, 10:52 AM
    Sounds like OR felt you didn't need a car, so unlikely to allow motoring expenses in calculating your IPA. The expenses are likely to be significant (tax, insurance serving, mot, mot repairs) esp on an older vehicle

    Your OR will likely also be interested in how you managed to save so much
    • Minkym00
    • By Minkym00 18th Oct 19, 12:49 PM
    • 220 Posts
    • 88 Thanks
    Minkym00
    • #3
    • 18th Oct 19, 12:49 PM
    • #3
    • 18th Oct 19, 12:49 PM
    Two problems I can see here:

    1. If you live within walking distance to work and have managed so far without a car, they will argue you don't need one.
    2. If you've saved 100 a month then they will consider that you have 100 a month surplus income they can claim.

    I'd leave things well alone until you are discharged if I were you.
    • sourcrates
    • By sourcrates 18th Oct 19, 12:56 PM
    • 18,602 Posts
    • 17,507 Thanks
    sourcrates
    • #4
    • 18th Oct 19, 12:56 PM
    • #4
    • 18th Oct 19, 12:56 PM
    Most definatly agree with post #3# above, wait 6 months, you will be free to do as you wish essentially, that can of worms may look tempting now, but it will taste revolting.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    forumteam@moneysavingexpert.com.
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
    • Reddington
    • By Reddington 18th Oct 19, 1:48 PM
    • 5 Posts
    • 0 Thanks
    Reddington
    • #5
    • 18th Oct 19, 1:48 PM
    • #5
    • 18th Oct 19, 1:48 PM
    I see. I did expect it might be an issue. I was tempted to contact the OR and see what they say but I think seeing as the consensus is pretty much unanimous above, I'll wait the extra six months.

    Thanks everyone for the advice.
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