Car ownership after bankruptcy

[Flonda]

Hello, I wonder if anyone knows an answer to this. I am in the process of becoming bankrupt. I have a partner and he is in full time work I currently have a small part time job. All the debt is in my name. If my partner buys a car for me to use (he can't drive) will I be able to be the registered keeper of the vehicle? Or will it have to be him? Will I be able to take out an insurance policy paid via direct debit? The car will be paid by cash from his wages.

 

He asked me this question I hadn't even considered it as it didn't come up when talking about it through a debt charity advice line.

 

Thanks Flonda

[citizenB]

I will ask for you.

[sequenci]

Hi Flonda. So long as it can shown to the official reciever that the car was bought by someone else and you're just the keeper/user you should be good to go

[banking idiot]

I was in this situation apart from I owned two cars - one mine one my partners - The IP stated we could only keep one but they accepted that my friend could buy the car from me for a cheap price - and then gift the car back to me - it was an old car that would have fetched £700 if sold on side of road!!! my friend offered me £50 and that was accepted!!!

[FitForPurpose]

If you do sell the car to your partner, remember that you can't sell it "under value" otherwise the receiver could undo the transaction. So if you have a brand new Ferrari and planned to sell it for a quid, that won't work. However, perhaps what would work would be to get a valuation from someone like "we buy any car". Their valuations are very low, but perhaps are likely to be the sort of price a receiver might expect to get in a "panic" sale. This will also give you evidence to support that you got a third party valuation if any one questions it.

 

FFP