BR help please - very scared and anxious!!

Hi all.

I'm 27 and due to go BR this week due to my partner losing a 25k+ job due to long term sickness, meaning we can't keep up with debt payments like we were able to before. I'm absolutely terrified, if I'm honest! I'm putting on a brave face for everyone but I just really don't know how I'm going to cope.

My main worry is my car - I have a 14 plate car and will probs be worth around 3.5/4k. It has cruise control on it and due to my disability it's something that I use (though its not a mobility scheme car) - my question is will they still take this/make me sell it for one of lesser value? Also, is it common that they will let a family member buy the car for what they would have raised for it at auction?

Another questions is my household assets. I know it says essentials won't be taken, but what about things such as TV's, PC, mobile phones, books, wall hangings etc? I'm so so so embarrassed and upset that it has come to this, when I honestly didn't think it would :(

Thanks all xx
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Comments

  • cuddlymarm
    cuddlymarm Posts: 1,890
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    Hi
    Try not to worry
    They won’t t take assets, household stuff etc (unless you have a Picasso on your wall )
    We went BR (OH in 2009 and me in 2010) and the rules have changed slightly since then and more up to date people will be along soon but although scary it will be OK. Once you get your head round it it is a fresh start which will remove a lot of the worries you have now.
    Keep posting on here if you are worried or just want to talk to people who have been there and know exactly what you are going through.
    Cuddles
    🎄December 🎄 NSDs 11/15
  • sourcrates
    sourcrates Posts: 28,717
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    hbp2008 wrote: »
    Hi all.

    I'm 27 and due to go BR this week due to my partner losing a 25k+ job due to long term sickness, meaning we can't keep up with debt payments like we were able to before. I'm absolutely terrified, if I'm honest! I'm putting on a brave face for everyone but I just really don't know how I'm going to cope.

    My main worry is my car - I have a 14 plate car and will probs be worth around 3.5/4k. It has cruise control on it and due to my disability it's something that I use (though its not a mobility scheme car) - my question is will they still take this/make me sell it for one of lesser value? Also, is it common that they will let a family member buy the car for what they would have raised for it at auction?

    Another questions is my household assets. I know it says essentials won't be taken, but what about things such as TV's, PC, mobile phones, books, wall hangings etc? I'm so so so embarrassed and upset that it has come to this, when I honestly didn't think it would :(

    Thanks all xx

    Hi,

    The OR will not seize goods from you, unless you have things of significant value, such as antiques, valuable pictures, things of that nature.

    Second hand goods have very little value at auction.

    If you can demonstrate a need to use a vehicle with that modification, then you may be allowed to keep it, usually the only thing that may affect you will be an IPA if you have £20 or more surplus income every month.

    Can i ask why you are going bankrupt if its your partner that's lost there job ?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • hbp2008
    hbp2008 Posts: 40 Forumite
    Thanks so much for the advice. It's so scary isn't it! I'm just trying to look at it like a fresh start for us both, but I can't help but be terrified that our lives are going to chance for the worse :( x
  • hbp2008
    hbp2008 Posts: 40 Forumite
    sourcrates wrote: »
    Hi,

    The OR will not seize goods from you, unless you have things of significant value, such as antiques, valuable pictures, things of that nature.

    Second hand goods have very little value at auction.

    If you can demonstrate a need to use a vehicle with that modification, then you may be allowed to keep it, usually the only thing that may affect you will be an IPA if you have £20 or more surplus income every month.

    Can i ask why you are going bankrupt if its your partner that's lost there job ?

    Yeah I don't have any really expensive paintings or anything like that. I have TV's, a PC, mobile phones etc and the usual household things like dining table, sofas, wall decorations etc.

    Thanks so much for the reply x
  • sourcrates
    sourcrates Posts: 28,717
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    hbp2008 wrote: »
    Yeah I don't have any really expensive paintings or anything like that. I have TV's, a PC, mobile phones etc and the usual household things like dining table, sofas, wall decorations etc.

    Thanks so much for the reply x

    They only do a telephone interview you know, they do not physically come round your house and inventory everything.

    All they will ask is do you have any assets of particular value, you just say no, likewise, make sure when they ask about the car to emphercise your disability and that the car is essential to you.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • hbp2008
    hbp2008 Posts: 40 Forumite
    sourcrates wrote: »
    They only do a telephone interview you know, they do not physically come round your house and inventory everything.

    All they will ask is do you have any assets of particular value, you just say no, likewise, make sure when they ask about the car to emphercise your disability and that the car is essential to you.



    Ahh I see, I was expecting the possibility of somebody coming to my house and looking at every little thing I had in there! I was worrying so much!!

    Perfect, thank you. Hopefully even though the car is worth some money I will be able to keep it, even if a family member has to pay (they have kindly offered) as it really does help with my condition. Thanks so much :)
  • bewildered1
    bewildered1 Posts: 69 Forumite
    I'm sure someone will correct me if I'm wrong but I believe it is unlikely they will let you keep the car unless your friend buys it at market value. Market value is what it would cost to buy it from a private seller not at an auction or via retailer.

    The only other option is to sell the car and buy another valued at around £1000 which is the theoretical maximum amount the Official Receiver will allow you, though there have been instances when people have been allowed to keep higher value vehicles. There are cars of this value that have cruise control. My car is worth a lot less but it has it. If you can prove to the OR that you need the car, for example to commute to work at take your children to school, you should be able to keep it.
  • hbp2008
    hbp2008 Posts: 40 Forumite
    I'm sure someone will correct me if I'm wrong but I believe it is unlikely they will let you keep the car unless your friend buys it at market value. Market value is what it would cost to buy it from a private seller not at an auction or via retailer.

    The only other option is to sell the car and buy another valued at around £1000 which is the theoretical maximum amount the Official Receiver will allow you, though there have been instances when people have been allowed to keep higher value vehicles. There are cars of this value that have cruise control. My car is worth a lot less but it has it. If you can prove to the OR that you need the car, for example to commute to work at take your children to school, you should be able to keep it.


    Sorry, I meant private value, not auction! When I get a quote for what the car is worth now, it's around 3.5/4k - I've had a look for a car with cruise control on it for less, but came up with nothing. Do you mind me asking what car you have?

    Thanks
  • bewildered1
    bewildered1 Posts: 69 Forumite
    hbp2008 wrote: »
    Sorry, I meant private value, not auction! When I get a quote for what the car is worth now, it's around 3.5/4k - I've had a look for a car with cruise control on it for less, but came up with nothing. Do you mind me asking what car you have?

    Thanks

    It's a Ford Focus. You will need to look for a MK2 model 2004 onward in Ghia trim to have the cruise control. A quick search on Autotrader shows they are being sold for £700 upwards though you may be able to get one less from ebay or pistonheads.

    I'm not saying the OR will definitely refuse to let you keep your car but at least there are options if you aren't able to.
  • debt_doctor
    debt_doctor Posts: 4,595
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    Hi,

    Bewildered1 is right, your car is very much at risk, but if you can prove a need for a car then you will be allowed a car for £1000ish.

    Very helpful motor trade advice from Bewildered1.

    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
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