Bankruptcy Information Centre

If you have a bankruptcy question you'd like to ask, just ask using this online form. All help is free.

Can I Keep My Car If I Go Bankrupt?

Question:

I am in the process of going bankrupt and am worried about my car.

I valued it online and it maybe worth £500 to £750.

I live in a small village and have to drive to get to my job in town as there is no other way to get there, no buses or anything.

If I lose my car I will lose my job.

Answer:

Based on what you have stated your car should be OK. It is of modest value and from what you have stated you do need it for transport to get to and from your work.

You are allowed a car in bankruptcy if it is of modest value, and you can show a need for the car, such as no public transport, working unsocial hours, medical or family reasons.

Bankruptcy Assistance Service

Thank you for letting me help you.

Jon

If you have a bankruptcy question you’d like to ask, just ask using this online form. All help is free.

Source: Can I Keep My Car If I Go Bankrupt?

Other Related Items