We might lose the car. That is the upshot from my phone conversion with the representative from the Official Receivers Office yesterday. The call lasted 58 minutes (his initial estimate was that it would be twenty!). He asked about the chain of events that lead to the bankruptcy, about my credit card usage, and about my assets (a £3K car and a house with negative equity). All not exactly easy questions, but it was quite simple to just tell the truth. On the credit card usage I couldn't even answer to within a year as to when I even acquired them!
With the car, it seems quite simple. They work out what they might sell it at auction for, and if this is less than around £2500 then it looks like I can keep it (providing I pay the difference from £2000 upwards - yet again, I can 'buy' their interest - who would have thought that bankruptcy brought costs like this - not something I realised beforehand). If its value comes back above £2500 then it will simply be sold at auction and I'll be given £2000 to buy another car.
Yesterday I also spent the best part of two hours transferring the majority of my direct debits to my new Cashminder account. Time consuming, but relatively hassle free...
