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Hello,
This may be a bit of a strange question. Background: I'm 3 months into my bankruptcy, it was very straightforward and didn't need an interview although I haven't yet had any word about an IPA but I'm prepared to hear at any point, I'm saving up my council tax etc.
They said I could keep my car as it was essential for work purposes and only worth about £600. However, as of 2 weeks ago I now have a new health condition that means I'm not allowed to drive for at least a year. I think it's a bit of a waste of money keeping the car for a year fully taxed tested and insured if I'm not using it, not to mention I'll now need that money for public transport (and taxis where my car was truly essential).
So I want to sell it, but how do I do this? I ideally want a quick sale and normally would take almost any offer just to get rid of the stress, but do I have to prove I got market value for it? E.g. would it be OK to sell it tomorrow for £250 just for speed, or do I have to wait and hold out and make sure I get £600ish for it? Do I have to give the money to the OR (bearing in mind what I said about needing taxis etc and it takes months if not longer to access any statutory help with health-related travel passes etc)?
Or for the sake of simplicity, is it easier if I just keep the car and don't use it until I am discharged and allowed to drive again? My insurance (paid monthly) is at the higher end of reasonable without being extortionate, the MOT is due very soon and it will need a couple of hundred spent to get it passed, so it will cost money to keep the car. SORN isn't an option for me, if I kept it I'd have to be fully covered. On the other hand, I expect to be only barred from driving for a year until the medication starts working well so after a year I will need a car again. Being BR won't let me save up for a car separately from other expenses, and I doubt I'd be able to pay my insurance monthly in the future with a new policy, that's why I've kept my current policy running.
This may be a bit of a strange question. Background: I'm 3 months into my bankruptcy, it was very straightforward and didn't need an interview although I haven't yet had any word about an IPA but I'm prepared to hear at any point, I'm saving up my council tax etc.
They said I could keep my car as it was essential for work purposes and only worth about £600. However, as of 2 weeks ago I now have a new health condition that means I'm not allowed to drive for at least a year. I think it's a bit of a waste of money keeping the car for a year fully taxed tested and insured if I'm not using it, not to mention I'll now need that money for public transport (and taxis where my car was truly essential).
So I want to sell it, but how do I do this? I ideally want a quick sale and normally would take almost any offer just to get rid of the stress, but do I have to prove I got market value for it? E.g. would it be OK to sell it tomorrow for £250 just for speed, or do I have to wait and hold out and make sure I get £600ish for it? Do I have to give the money to the OR (bearing in mind what I said about needing taxis etc and it takes months if not longer to access any statutory help with health-related travel passes etc)?
Or for the sake of simplicity, is it easier if I just keep the car and don't use it until I am discharged and allowed to drive again? My insurance (paid monthly) is at the higher end of reasonable without being extortionate, the MOT is due very soon and it will need a couple of hundred spent to get it passed, so it will cost money to keep the car. SORN isn't an option for me, if I kept it I'd have to be fully covered. On the other hand, I expect to be only barred from driving for a year until the medication starts working well so after a year I will need a car again. Being BR won't let me save up for a car separately from other expenses, and I doubt I'd be able to pay my insurance monthly in the future with a new policy, that's why I've kept my current policy running.
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