Myvesta UK FAQs

Category » Cars and Vehicles

There were 50 questions found in this category:

1. Cars in bankruptcy
   Question: My husband and I are about to go bankrupt. We sold a vehicle about 5 months ago to a friend to whom we already owed some money and who then provided us with enough money to pay 6 months rent up front on our rented property (as we could not pass a credit check). The value of the vehicle ...
2. Bankruptcy
   Question: My husband has been made bankrupt and they are taking the car from us which is worth around £6000. My husband does not use the car and it is used by me for school run, playgroup and also regular hospital appointments for two of my children. Can the decision by the Official Receiv ...
3. BANKRUPTCY
   Question: HOW CAN I KEEP MY CAR IT IS WORTH £6000 i WAS MADE BANKRUPT ON 18 nOVEMBER 2009 Answer: It will be the Official Receiver's decision if you can keep the vehicle or not; if you can show a need for it and the value is less than 2K, it may be OK. Once you have gone bankrupt, your f ...
4. Car
   Question: I went bankrupt yesterday and i had finance on a car but a family member paid the finance off yesterday aswell,what happens to the car now and it was also in my girlfriends name as the registered keeper ,could you please giv me advice.thanks Answer: You are allowed a car in bankruptcy ...
5. HP car loan
   Question: I am on a debt management progrthe company ame, can i take out a hp loan for a car. many thanks Answer: You may want to ask that question of the company handling your DMP, but taking on new credit whilst struggling with other debt is not always a good idea. If it will limit or reduce ...
6. Bankruptcy
   Question: If i declare bankruptcy and i have a car and paying it monthly will they take the car from me as i need a car to get to and from work as it 12miles to work so thats 24 miles a day with no direct bus route from where i live. Answer: You are allowed a car in bankruptcy if you can show a ...
7. HP on a Motorbike
   Question: Hi i have hp on a motorbike but came off it and have sold what was left.I am thinking of going bankrupt the bike is still in my name what will happen thanks. Answer: I am a bit unsure of what you have stated has occurred: If the bike has any value, say over 2K, and it is in your name, ...
8. Cars
   Question: I lost my job due to health reasons and i sold my 2 cars about 4 months ago and have used the money to live on. i am on Employment support allowance. i am thinking about declaring bankruptcy as i owe approx £10.000 to various loan campanys including my bank. i am a bit worried ab ...
9. Car
   Question: My daughter has a car on finance , but for insurance purposes the vehicle's log book is in my name. The car is used to take me to work & my son to and from nursery, as well as for her usage. We are about to go bankrupt, what would be the consequences on her car? Answer: In bankruptcy ...
10. Company Car
    Question: Last year I bought my own car for £11,000. It is for business use and I do around 25000 miles/year The company pay me a car allowance which matches the repayments on the car loan so it pays for itself The car is now worth £7,000 and I still owe £8500. Is the car likel ...
11. Car
    Question: I have recently been made bankrupt, but wish to purchase a car of which my family would be paying for, can i register it in my name or should i use someone elses. do i officaily need to let the official receiver know of this car and could they find out if i dont. Answer: If the car is ...
12. Car on Hire Purchase
    Question: I have a car on Hire Purchase with Welcome Finance. We have over £7500 outstanding but the car is only worth £4000 according to Parkers Guide. I need the car to commute to work as I travel earlier than the underground public transport starts. Will the official receiver allo ...
13. HP - Van
    Question: I am behind on my HP payments for my van and along with other debts have decided to file for bankruptcy. If at the time I file for bankruptcy the van has not yet been re-possesed by the HP company and post bankruptcy date the debt for the difference between the value of the van and the ...
14. My car/Bankruptcy
    Question: I'm considering going bankrupt for £19k i have a single loan with debt of around £15k and a joint loan with my ex partner for the debt of £8k...the single loan i used to clear some of my ex partners debt and to purchase a new car as mine had been written off in an acc ...
15. Car
    Question: I am a single parent. I have a car which is worth just over 4000. This was given as a gift from my partner and is needed to get to college and take my daughter to nursery. I filed for bankruptcy 1 after being told it would be 1 yr and 2 to clear a 5000 debt. I am still being chased up ...
16. Employee Car Loan
    Question: I have a Golf on an employee car loan, have had the car almost 2 years, this isn't classed as HP is it? I would say it is worth £4500 now. I have to have the car for work and it needs to be reliable as I work as a Emergency Responder. Would you say this would be accepted in bankr ...
17. Credit Checked for No Check Car Loan
    Question: I applied on Tuesday to a finance company who specialised in offering all kinds of vehicle finance. As I know I have very bad credit I opted for their "No Credit Check Loan" and on checking my credit file this morning see that a search for a car loan has been logged on my file as of y ...
18. car
    Question: I recently sold my car to live because I lost my licence for 2 years in september and as a result I had to resign. I wasn't aware I could claim jobseekers allowance so I was borrowing money off family until the car sold. I managed to sell the car for 3k and have paid all my family off, ...
19. bankruptcy
    Question: Hi i have a car on hp, value around 4500, i am a single working mum who does a school run and take my smallest child to a childminder, would this qualify as a necessity to keep my car or would i have to return it leaving me without a vehicle Answer: You are allowed a car in bankruptcy ...
20. car
    Question: Can I sell my car to pay of the personal loans from family and buy a car for under £2500 before i go bankrupt ? my car is current worth £ 5500 and is a 4X4. Answer: The quick answer is no, however you can do this, BUT...the Official Receiver in your bankruptcy has the auth ...