BR Forms - car question

[andymac]

Hello all:

A bit of advice. I Am trying to answer these questions 100% honestly.

In the Statement of Affairs, I have listed the fact that I own a car. This is the truth, it is the only car I own, and in fact it is a beaten up old wreck used to carry my 3 muddy German Shepherd dogs around in.

Then, it asks if I have the use of another vehicle. Again, I have said yes, I do, it is my partners car, I am on the insurance policy, but never drive it, as it is her baby. Is being on the policy classed as "having the use of" or not?

She also has a Company car ! I am insured on that too. There is only space for 1 vehicle, what do I put down?

[iva experts]

Hi andymac,

I think the most important thing that the courts will try and discover is do you have any other assets that are not stated. As the cars are not in your name or an asset of yours, I cant see that your name being on the insurance would cause any problems.

Its commendable that you are trying to be as honest as you can, I think you will be given time to explain yourself in the OR meeting.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[Skippy]

I didn't actually declare that I am on my partner's insurance - I am only on it as it was cheaper to put me on it, and as he is self employed there is no way I can use the car as it is his work vehicle. I think you are doing the right thing putting it down Andy, and with hindsight I probably should have done the same.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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[BrassicLintus]

I would put them down Andy, then if the OR asks you about them at the interview you can explain the situation. But if he doesn't ask - then don't offer the info!!!!! But I think he would only really question it if he thought that your own car could be disposed of and a reasonable amount of money offered to your creditors, as you have use of other vehicles, but as your car is low value it probably won't be an issue.

[Sadsack]

Oi Vay!!! Now you have got me all thinking!!!

My partner does not live with me but I am on the insurance! Do I have to put this down?

Sue

Ho Hum! Think I'll bang my drum!

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[BrassicLintus]

Same as Andy Sue, I'd put it down, but again you'll have the chance to explain at the OR interview. If the car isn't in your name and you don't have use of it full time, then I don't think it would be included as an asset. Do you have your own car that you need for work?

[andymac]

I decdied to be 100% honest all the way through, then you cant trip up during the interview.

Only asnwer their specific questions, honesty always pays.

If you look up previous BRU/BRO on the insolvency website, they really come down hard on gamblers and liars !!

[Sadsack]

Yes I do but it is a company car. Therefore it is not an asset of mine. They do ask what the value of it is - not too sure - and who it belongs to. Anyone know what an Audi A4 56 reg is worth?

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
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[BrassicLintus]

If it's a company car Sue then no worries. If you declare that you are on your partners insurance, but the car is his then I don't think the OR will even question it. But as Andy says - honesty is the best policy!!! I had put down that I had spent £500 on gambling (curse that online bingo!!!!), but when I downloaded my statements to send him it was actually a lot more than that (I had stupidly let my ex-partner use my card and he'd spent about £500 on internet poker!) so during my OR interview I confessed that the money spent on gambling was more than I had declared - and he just asked if it was used for betting on horses/dogs etc and I said no - and he left it at that! But I really convinced myself that I was going to end up with a BRU/BRO!!!

[Sadsack]

I have no gambling debts, but can understand why some do it - strange, that was the one thing that I was never interested in. I think the fact that cash is tangible whereas credit cards weren't! 17 Years ago my Mum and I went over to the States and she spent her time in Vegas in front of a slot machine - never saw the point, but she loved it and still goes gambling to this day!! Mind you, she is pretty astute with her money, pity it never rubbed off on me!!!! and she always has money!!!

Ho Hum! Think I'll bang my drum!

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[BrassicLintus]

I think my problem was that I was on my own (ex partner studying away at Uni), and when I'd finish work at 3am there was no where to go and nowt to do (did try doing my cleaning once - but neighbours complained of me hoovering at 4am!!) So I saw internet bingo as my "night out" - sad I know!! And dangerous! Because it's not real money, it was so easy just to keep depositing the odd tenner here and there and before you know it, it added up to hundreds!!! A mate of mine once spent £500 in one night!!!!! Weaned myself of it now thank god!

[Sadsack]

Good on you and you should be proud of yourself!!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/