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

Moderators: TalbotWoods, JaneClack

By ricardot
#219405 hiya all,
i have a car worth appx £2600 pounds and would like to try and find out what would most likely happen to my car after being made bankrupt.
i work shifts, some of which start at 0450 and finish at 0130 so i need my car to get to and from work at these times, also my partner lives in wales while i live and work in london and i make 1 round trip per week to visit her so i also need my car for that so am just wondering if i will be expected to use public transport to get back and forth to wales and use public transport to get to and from work.
many thanks
By cyberelf
#219407 if a car is required for work to enable you to make a living then the OR will likely allow a vehicle, but the value you have put on your car is very borderline for them to accept. There is every possiblity that the OR would sell the car then return you a lower fixed sum to enable you to purchase a cheaper vehicle.
By Iphigenia
#219461 when I went bankrupt in 2006, the sum allowed for a replacemen car was £2,000. Indeed, that's what happened to me - my £4.5k car was taken but I was given £2k to purchase another because of the anti-social hours of my work.

Hopefully, allowing for 3+ years of inflation, your car at £2.6k will be OK.

I used Parker's but my OR used Glass's, which had a higher value.