what is the minimum ?

[rebecca-w]

ok skippy thank you very much for all your advice ill have a look on them websites

[MelanieGiles]

It is a bit of a lottery in what the OR will and will not allow with regard to the retention of cars, but you will just need to put up a good case rebecca. Dependent children will be one factor in your favour, but my gut feeling is that the car will be taken and sold due to its value.

[look_divine]

im in a union to do you have to cancel the payments?

[kallis3]

No, I still pay my union fees and had no problem with that.

[look_divine]

oh right must of read that wrong huh lol

[kallis3]

I presume you meant a trade union, rather than a credit union?

[look_divine]

well me reading it thought trade union, guess i read it wrong
whats a creditunion

[kallis3]

A credit union is a savings type club run by a group of people for the people. For example, one of my old firms started one up, and you can save money, and get loans if you want them.

As for trade unions, I belong to the TGWU and my subs come out of my bank account every month. I was never told that I had to stop payin them.

[look_divine]

mine comes direct off my wages each week, its shown on my wage slip along with my pension payment, what happens to a pension through work in a iva?

[scaredkez]

hi rebecca i don't want to be the bearer of bad news in regards to your car, your case may be different to mine, as you say one of your children has adhd and this could be a factor when the OR determines whether he is taking your car into account, especially if you have to attend lots of appointments and no public transport is available.

anyhow i went BR had 3 dependant children and work, the OR took my car and told me to use public transport regardless that it meant having to leave the children very early in the morning, i was lucky as my parents bought my car off the OR for me, i wouldn't have been able to cope with it, i think the best thing to do is if you decide to go BR work towards the worst case scenarios all the time, and then when it doesn't happen you can always look at it as a bonus.

welcome to the forum and the best of luck in what ever way you choose to go.
kerri

[rebecca-w]

hi skippy i had a look on them websites you gave me and it turns out my car is worth less than i thought although im not sure what price the or would use my trade in price was £1,781, my private sale price was £2,841 and my dealer price was £3,570 so if anyone has any idea what price they would use please let me know.MEALANIE.... you say your gut feeling is that i would loose my car do you still think this now i have given the correct prices ?. SCAREDKEZ.....if you dont mind me asking how much was your car worth when you went bankrupt and did they give you any allowance for a car. there is public transport available but as we all know with kids especially one with adhd waiting around for public transport and then trying to keep the kids entertained while we are on it isnt great fun. thank you all for your help i am learning new things all the time.

[MelanieGiles]

Most of the OR offices I have dealt with have a minimum figure of £2,500 - but I really could not say if this will affect you or not. That is one of the downsides of bankrutpcy - in that you do not know what is going to happen before you are bankrupt, and on things like this by that stage it may be too late to save the asset.

[rebecca-w]

rung the cab and spoke to the adviser that said i could go for the iva and told him that i have since been told i couldnt go for the iva and he said he had just found out the same thing

[rebecca-w]

hi melanie thank you for getting back to me im thinking maybe i should work with the cab to get my payments as low as possible and then if i have any spare money pay a little bit exra to clear it quicker as maybe things will change with in a few years and i might be better off like when the baby is a bit older i could get a job although i have been told some times this doesnt even make you any better off but its worth looking into

[MelanieGiles]

That may be worth a try Rebecca, and if it doesn't work you can always consider bankruptcy at a later stage - and of course your car will continue to depreciate in the meantime.