carolyn
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yes they can |
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Tony A
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No, they can't take it off him because it isn't his.They will take it off you. |
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lolly
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yeap, anything that is in your name can be taken. |
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Muga Wa Kabbz
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If you have completed your car payments, then there is nothing to worry about. If you guys still have car loan payments to make, if the car is in your name and you file for bankruptcy, your car loan lender can repossess the car. If you are going to declare bankruptcy , have a car loan and you want to keep the car, then place it in your BFs name |
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finalfrontier1976
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Yes, however, there is something in the clause of bankruptcy that says if your car is required and it would cause a detromental problem if they took it from you you are allowed to keep it, or downgrade. |
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Daves Here
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Of course. If the title and registration is in your name its YOUR car, not your boyfriends. The bank isnt gonna give a hoot if he says its his, they will take it. Better be signing it over to him if you are filing bankrupsy and he wants to keep it.
People-Never put your car in someone elses name. They can sell it or whatever-you cant do anything about it. |
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msknowitall
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When you file bancruptcy, they usually do not come after your vehicle so long as you continue to make the payments on the vehicle. If nothing is owed, you are still fine. However, the bankruptcy might actually effect your insurance too, so you may want to look into putting back into his name ifyou can. |
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t-bone
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That declaration isn't then end of everything you own or owe against, your obligation as far as chapter 11 is very simple but you would be wise to pay your way out instead of going bankrupt. you got yourself into this now work your way out , there is no such thing as a free ride, better have your boyfriend put it back in his name before you do anything your creditors will impound the car or anything else you may own. |
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sexy legs
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i think so ...can you not change it to his name now ? |
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Skippy
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It will be declared as one of your assets and they will take it's value into account if you declare bankruptcy. if it is worth anything he will lose it. |
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cookie
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yes they can |
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Franco
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Under UK law, if you are shown as the owner in the log book, then it is your car and in most cases your creditors can take it from you.
However they cannot take it if you can show that you need it for you work. For example, if you earn money with it, or your place of work is not very accessible by public transport.
If necessary, sell and register the car in your boyfriend's name and after bankruptcy, until things settle down, do not use it yourself and park it in another street and out of sight. Your boyfriend is not under any obligation to answer any questions from any one, except a judge. |
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Richard of Fort Bend
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Ye, if you go under the car will probably go - the court may let you keep it (some states) if you show you must have it to keep your job.
But this is much more important: Your boyfriend better be one AWESOME lover because YOU are taking HUGE risks with this arrangement.
The insurance and car are in your name - and I suppose that he is driving "your" car (of course - he considers it his). If he has an accident and, pray not, really hurts somebody, most lawsuits start at $1 million and go up from there. YOU will be on the hook because it's your car and you let him drive it.
I doubt that your insurance will pay for more than the first $100k or so of the lawsuit - check your coverage, It;s probably even less if you only took the minimum required coverage for your state - to save money.
This is doubly dangerous because I can speculate on the things that could have happened in your boyfriend's driving history to lead to his insurance rates being a lot higher than yours - and none of them are good for you.
This arrangement can wipe you out financially (and perhaps for life) after about 15 seconds of his inattention or stupidity. You would be far better off signing the car back to him, and paying part of the insurance cost for him. |
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Peter K
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Those quoting "chapter 11" are referring to American law, not UK.
Most answers given in answer to this are incorrect.
The question itself in unclear. What exactly do you mean by your "boyfriend's car"?
If you mean the one he drives which you bought and paid for then that is an asset in your bankruptcy and may have to be sold to pay your creditors.
If your boyfriend paid for the car, but for whatever reason it is registered with the DVLC in your name than that is another matter. If your boyfriend can prove he paid for the car in full then it can be excluded from your bankruptcy. |
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homemanager22
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yes they can, it's an assit.
you could tranfer it into his name - however then there is a risk that they think you are trying to pull a fast one. |
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Elaine M
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If you are the registered owner of the car they are likely to believe it is your vehicle. You would have to prove that your boyfriend is actually the legal owner: whose name was on the original purchase for the car and who made the payments?
I would not advise transferring it to his name now, as the Official Receiver will find this out and it will look suspicious. You have to declare ownership of previous vehicles and any you have disposed of within the last 12 months when declaring bankruptcy.
They will take any vehicles that you do not need for work purposes, and even if you do need it for work they may sell your current car and give you money for a cheap one, depending on its value. |
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pablo_asawa
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its in your name? and he can't get cheaper insurance?
sounds like a confusing web we weave when we first practice to deceive..
i would get legal advice as i don't think they will take an automobile...but you should get legal advice as this question may vary from state to state..it depends on how hard your creditors are looking for your assets.
Don't you have to have a lawyer to file this chapter 11 or 13? Don't you have to put your assets down when you file.?? get legal help..or you boyfriend could end up "car less" |
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sParKy
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Yes they can. I would switch it over to his name as a new sale before declaring yourself bankrupt. With some insurance companies the amount will be reduced just by having you as a named driver anyway. |
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SPIFIMAN1
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Yes they can.
And if you transfer the title to your boyfriend and then declare bankruptcy the court will find out and he will still lose the vehicle. |
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