Hi all, I've got a total of about 50k debt and I'm currently in an IVA where it has been agreed that I pay back about £22k over 5 years. After about a year of payments on the IVA I got made redundant at work and my payments were put on hold. They have been on hold for about 8 months now and I had a letter telling me that they had cancelled my IVA agreement. I got a new job in December but the pay is nothing like I was earning before and can't even afford to live let alone pay back the IVA too which is £370 a month. So it looks like I have no choice than personal bankruptcy. I'm fine with this and to be honest it feels like it could be the best option for me. My main question really....and the reason for finding this site....is I only really have 1 asset which is my car. It's worth about 4 or 5k. The thing is I really can't be without a car as I need it at the weekends to see my children. I was guessing that if I declared myself bankrupt that they would take my car for auction. Is this true?? Is there a bottom limit on how much a car is worth before they can take it from you....for example...would it be worth me selling the car I currently have and then buying one for around £1500>?? would I stand more of a chance of holding onto a car then?? I'd be grateful for any advice on this....thanks in advance.