the only thing that is actually mine.

[christina_t]

my husband has gone BR about 2 weeks ago , i have a car which is paid for but until 4 months ago was in my husbands name, purely because the garage offered him a better deal on finance and it was cheaper insurance to have him as main driver as i had 0 no claims, when direci line decided to offer full no claims to second drivers we switched into my name , will they still come after my car which was paid for from a joint account with my wages and was first registered with my number plate. They are welcome to anything else but i worked hard for this and it is the only thing that is actually mine.

[Dominic]

i hope i am wrong but as it is in his name then i law it counts as his and as he is the bankrupt it probaley counts as his asset.

[alan1951]

I think Christina is saying the car was transferred into her name 4 months back.

Unless she declares it how is anyone going to know the car was originally in her husbands name??

Alan

[Edwina]

I beleive that you are not wrong I am afraid to say, however it would depend on the value of the vehicle. The fact that the vehicle was in your husbands name ( and there is a time limit with reference to this which I think is 6 months but not absolutely sure) the transfer into your name would come under a section of the Insolvency Act 1986 know as Transfer of an Asset at Undervalue and therefore would be recovered by virtue of the bankruptcy. The Official Reciever (OR) will allow a vehicle up to the value of normally anything between £2,000 - £4,000. So if the vehicle is valued at lets say £9,000 and the OR allows you £4,000 your husband will be able to purchase another vehicle for this amount the remaining £5,000 falls then to the bankrupts estate. Failure to declare assets to the OR or any other issue relating to a bankruptcy is not advisable.

i hope i am wrong but as it is in his name then i law it counts as his and as he is the bankrupt it probaley counts as his asset.