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[givemefreedom]

I would like to know if you are allowed to own a car AFTER being declared bankrupt. My brother is starting a new job where he gets a company car and so he has offered his old car to me for free (he owes me one!) but would i be allowed to keep it during the bankruptcy as i cant find information on this?
Its not for a couple of months yet that the car would be mine and im hoping to be bankrupt by then so basically can i own a car after being bankrupt??

[Mattyd433]

Hi

If the car has a value of £2000 or more you would loose it. You will only be able to keep the car if you need it for work or have another compelling reason.

Why don't you get insured but he remains the registered owner?

Not sure if this is a good idea but others will be on to advise (I hope)

[Hg]

The simple solution here is if your brother doesn't give you the car; he retains ownership of it but just lets you use it. Best to keep the paper trail to smooth things in the long run, as you're going to be asked!

[givemefreedom]

Thanks for the replies. I did kind of think along those lines but wasnt sure if i was allowed, but then again bankruptcy doesnt mean your not allowed to drive a car!!