What happens if we get a car as a gift ?

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laura.05

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Post by laura.05 » Thu May 26, 2011 6:56 pm
if we was to be bought a car as a gift would webe expected to sell the car to go to paying the iva and do we need to let them know about new car
 
 

Foggy

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Post by Foggy » Thu May 26, 2011 7:01 pm
It's best to let IP know ( just to keep him / her in the loop as insurance, tax , fuel costs might be affected) But a gift ( even a car ... but not of any significant amount of money) should be yours to keep. Having said that, if someone gives you an Astom Martin Vanquish, you might be expected to sell that !!!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

andrea1968

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Post by andrea1968 » Thu May 26, 2011 7:17 pm
You would have to catch me first!!!!!!!
full and final accepted January 2015

iva agreed; August 2010
iva would have completed; August 2017
extra year thank's to NRAM
 
 

kallis3

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Post by kallis3 » Thu May 26, 2011 7:19 pm
If it is a gift then you are fine.

Lucky you!!!!!!!1111
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

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Post by MelanieGiles » Fri May 27, 2011 1:20 am
Who would be gifting you the car as a matter of interest?
Regards, Melanie Giles, Insolvency Practitioner
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