Questions you have before making a decision to go Bankrupt and the Bankruptcy process

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By burd2003
#2046 Hi again - I have rang and arranged for my bankruptcy for next friday (managed to persuade them to squeeze me in) but the only problem is - My Partner is buying me a car as he needs me to drive to see his son alternate weekends 200 miles away, but i have just rang my insurance company and they cannot insure me on a car of I am not the legal owner - but if I am the owner they will take it off me even though i didn't pay for it!! Any Ideas!! Please!!! I'm desperate :cry: :roll:
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By Nicky
#2048 I think as long as the car isnt an expensive one (under 1 or 2k) you should be fine to have it in your name as long as you can prove you need it. Depending on how soon you need to sort a car out, if you are going to see your OR beforehand, you can always talk it over with him/her to see what is acceptable. They are not too bothered about things like cars unless they are brand new or worth a fair few grand.

I know of someone who was able to keep a car worth £2.5k, so I wouldn't worry to much, you should be fine (as long as its not an expensive car).
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By sammie
#2079 hi we had much the same problem, although a little different. we sold our car to my father in law to raise funds for bankruptcy. he then "lent" us back the car as we cant get around without one. we then found out after transferring the car over with the sale, that we wouldnt be able to get insured with the car not in our names. spoke to the or, who said as long as my father in law had a copy of a reciept of sale, showing he had paid for it, there was no problem in transferring the car back into our name.
so you can still have the car registered in your name , as long as you can provide proof that your partner is the legal owner!
hope that helps a bit!!