Hi all,
Posting here for traffic.
Does anyone here have any experience with insolvency/bankruptcy please?
I declared myself bankrupt just before Christmas.
I am a full time career, and a part time student. I care for my two young children who have disabilities. I have no assets, apart from my car which is worth £4500. As I am in receipt of state benefits I have no IPA.
The OR has accepted that my is exempt (due to the nature of my ‘job’) but has advised that because it’s of high value, it will need to be sold for a cheaper alternative worth £1000. The difference will go to my creditors.
I’m trying to dispute this. I’d like to retain my vehicle because realistically I wouldn’t be able to purchase a sustainable and durable replacement of that value.
Both my children have very, very frequent appointments/ therapies at community centres and hospitals within our city. This means I have to drive several miles every week. I’ve had to leave my career because of this as I was struggling to keep up with the regular therapies/appointments etc whilst being employed.
I understand there is legislation that permits exceptional circumstances to be taken into consideration, eg; a taxi driver needing a car of higher value due to the nature of their job.
I’ve submitted my views to my OR who has passed it on to the Assistant OR for consideration.
Just wondering if anyone has any experience
In this? I’m absolutely terrified, and worried about what will happen. My daughter has mobility difficulties and is a blue badge holder. She relies on me (car) to get around.
If they decide to sell my car, I will be given a few days to find a replacement. This will be impossible, there’s no way I’d even be able to get out with my two kids with special breed and no car.
I have no third party to purchase the car for either.
TIA