Bankrupcy

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anna43

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Post by anna43 » Mon Oct 15, 2007 4:00 pm
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We are looking into going bankrupt. My husband has 2 cars on finance as he is a executive taxi driver and rents the other car to another driver. would we lose the cars if we went bankrupt,because that would mean we would have no income
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Adam Davies

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Post by Adam Davies » Mon Oct 15, 2007 4:50 pm
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Hi
I believe that business related items would be safe in bankruptcy because as you say they are needed for your income.You will need to seek advice from an Insolvency practitioner and as they are on finance it will be upto the finance companies as to whether they allow you to continue with the finance or not.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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