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What can i declare as personnel monthly expenditure

My parents help me by a van i needed for work as aself employed decorator They paid £4000 and i paid £2250. I guess its worth £5000 Will i lose it or what compensation would i be expected to pay if any?

Hi msO and welcome to the forum

You will likely be asked to buy a cheaper van - of say £2,000 - with the remainder of the money being handed to the Trustee, although your parents might be able to argue that they are part-owners.

With regard to your personal expenditure, you should declare what you actually spend on a monthly basis.

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

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