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[Roz Logan]

If I go down the sequestration route what is the maximum value car I am allowed? I have read that it cannot be worth more than £1000. If my car is worth more than this what are the options? Thanks for any advice.

[Carla]

Hi Roz and welcome to the forum. As far as i am aware the value of your car is allowed to be up to £3000 in sequestration. As such if your car is worth up to £3000 you should be OK to keep it

[Hayden]

Hello Roz

As Carla has said you are allowed to keep a car worth up to £3000 in sequestration as long as you require it for work or reasonable family purposes. If your car is worth more than £3000 then you will either have to sell it, buy a cheaper one and give the Trustee in bankruptcy the difference or get a third party to pay the difference to the Trustee on your behalf.

[Geraldine]

Hi there Roz, if your car is worth more than £3000 it does not automatically mean that you will have to give it up. However you will have to get someone to help you pay the difference to the OR on your behalf as Hayden has said.

The other point it is worth underlining is that even if your car is worth less than £3000, if you go into sequestration it does not automatically mean you will be allowed to keep it. This will only be the case if you really need the car to get to work or a specific family requirement. If you could easily use other forms of transport or you simply do not need a car and it is just a luxury then the Trustee may still require you to sell it.

[Roz Logan]

Thanks so much for all your replies. I have been looking on Auto Trader and as far as i can see my car is worth about £2800 so from what you say this should be fine. I do need the car for work as I live out of the town and the busses are not regular. Do you think this will be OK?

[Steve Jackson]

Hi there Roz

The advice given so far is quite correct, you are allowed a car up to the value of £3000 in sequestration. Given you do need the car for work I am sure that the Trustee will be happy with you keeping it and including the running costs in your living expenses budget.