Hi, Thank you. It depends, if you use it for business purpose or it is on a lease for example then no they probably wont take it. If it is a car used purely for leisure purposes and you own it outright then it will be potentially included in your assets.
If the car is leased, in order to keep the car you would have to have the means to maintain the lease payments. Kind regards AJ
so it prob be best, ***** ***** the car in someone elses name.. then they cant take it off you...
Hi, Thank you. If you have not bought the car yet, then yes. If you already own the car, you would have to wait a year before going bankrupt, because the risk is the trustee in bankruptcy may be able to challenge such a transaction if it was deliberately done to avoid your creditors. Kind regards AJ
oh I see,.. ok thanks for the good advice :) I might have to wait till next year then, as I own my car out right. but would be gutted if they took it of me, I have no other assests as I rent.. so they probably would go for the car... ok thanks Alex, have a good day :)