BR and vehicles

[mish1953]

Im going down the BR route, and wondered if anyone can tell me what happens to vehicles ? - ok bad pun .

Household is me and 14 yr old daughter
8 mile round trip too work, use my m/bike for trips to work and personal journeys more economical traffic buster and use my car to transport sproglette around, trips to my social life ( aka tescos ).

Car - Ford Mondeo w reg 82k , tatty but mechanically sound value about £1000

Bike - BMW K75 L reg 53k , rough 'cosI cant afford to do it up. value £900 ( tops )

I dunno if I will loose both -- possibly

any thoughts


thanks
Mish

[scaredkez]

mish it all depends on the OR if he warrants that you need the vehicles, mine said no to me, although i run 3 kids to school, disabled parents plus need it to get to and from work 16 mile round trip to fit in with school times,etc, i do know they use parkers on line guide to value your vehicles if thats any good, i was lucky that my parents bought my car back off the auctioneer before it got to auction, i was told to get the bus, bearing in mind my kids are 4,8 and 14 the 2 younger ones i was told could walk to school? even tho i would have to leave the house at 7ish and leave them home alone, each OR is a law unto themselves.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[mish1953]

Thanks Kerri - I did read your blog , does the value of the vehicle have any bearing ? I would guess that it does.

If I lose them - then I'll just have to save and buy a £200 banger, I need something to pick up my daughter if she is visiting friends - especially in winter. I live in town but I dont feel happy about her wandering home in the evenings - shes only 14 but 5ft11 and looks 18.

thanks
Mish

[MelanieGiles]

Unlikely that you will be allowed to keep both, but you will be given allowance for the car running costs within your expenditure budget.

The OR's offices generally work on an upper ceiling of £3,500 before they will consider taking the car for sale.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[scaredkez]

my or said a vehicle value up to 2500 was acceptable on the insolvency site it says 3.5k i think but its all down to if they think you need it because there is no public transport, i was told to use public transport, each OR is different, i know skippy was allowed to keep her's although there was public transport, my hubby was allowed to keep his car valued at 500 because of his shift patterns and early starts and the distance to work, it all depends, i was almost guaranteed by the CAB they would never take my car because of the children and me getting to work how wrong was i!!! if your vehicle is of a higher value and they say you warrant the use they will give you a provision back out of the money collected to buy another vehicle.

hope it all works out for you, despite them taking away my car its the best thing i could have done!
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[mish1953]

Thanks for the advice,
I dont expect to keep both and the car is more practical, there is public transport to my place of work, but I need to be able to respond urgently when called out to fix the 999 call center computers otherwie they send a company car ( with flashing lights ) to pick me up!
My old m/bike is my personal escape pod ! I use it for transport to work and its an old friend I'll be sad to see it go but I expect to have some degree of pain in the process.

Mish

[scaredkez]

unfortunately mish thats what happens my pain is going to be my home i got to keep the car eventually (down to good old mum and dad) but, i am now out of debt, so clean slate, new start, don't get me wrong never been happier, 12 months ago this month i was a wreck, and now i feel i have turned a corner and my life is better i hope! feel guilty in parts that i haven't repaid my debts but in the same respect the creditors refused every avenue i tried so to me, thats their fault now, i done my best, judge congratulated me for trying my best and that said it all to me.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[mish1953]

Aye I know what you mean, I will lose my house to, my daughter is gutted and more than a little upset.
I guess I'll have to rent privately , that will be interesting with my soon to be trashed credit refs. I am on the local council list but I cant see that being fruitfull - I suspect they will say that as i am seeking BR that its my fault and use that to exclude me from a council house. Ho hum
I truly wish that I could have paid the debts off but I cant & feel guilty too.

We 'll see what happens on Tuesday

night
Mish

[scaredkez]

night mish it will all work out, at the end of the day you still have your daughter, and thats how i put my mind to rest i still have my family and what ever happens we are in it together all 5 of us and we will make the best of it.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[jane.l]

We are going down the BR route too, we have lost our house and I will no doubt lose my car, (its quite new) but hey ho, I am resigned to that fact now! I will just try and buy a cheap runaround for a couple of hundred quid if the worst comes to the worst! We now rent privately but have got onto the council housing list and they never even questioned us about our finances, so that may depend on the area we live in, but I am just hoping we get offered a house soon!!! So I don't think bankrucpty automatically excludes you from a council house