DRO questions

emmasnightmare · 30 April 2018 at 1:10PM

HI, i have had an absolute nightmre the past 10 months and looking at a DRO
I owe £3k VAT
4K corp tax
£2800 Credit card
£1000 draw down business loan with personal guarantee
I have sold many things i own to have made personal living payments and have tried to sell my car.
It is worth 5k but we need that money for mortgage etc as we only ge t£470 a month on ESA between us, our outgoings are 1k a month plus food etc.
my quesiton is, can i transfer the car to my partner and try and sell it?
She has a mortgage but i am not named on it and have no other assets
Thanks

Twubble · 30 April 2018 at 2:52PM

Your DRO may be refused if you have given away property, or sold it for less than it's worth, in the two years leading up to applying for a DRO. Transferring your car won't make any difference if she's not bought it in the first place. You don't have to be the owner to be the registered keeper, so unless she did pay for the car and prove that she did, then it wouldn't look good on an application. In fact, it would look positively dodgy.

fatbelly · 30 April 2018 at 7:32PM

Yes, this appears to be a complex case.

Your best bet would be Business Debtline.

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