Yeah thanks for that info.. Sounds like the best plan for us at the moment..

myself and my wife are going to file for bankruptcy shortly.. the only thing that is possible going to stop us from doing this is that if we go bankrupt we will loose our car (which currently has finance on it HP, which we pay £320 pm for to welcome finance) which i am told as it is worth £4000 on a good day and has £7000 remaining on it..... I read everywhere that it seems i will loose the car, and will have to buy a car for less money.? how do i get the money to purchase a car.??? Both my wife and i need a vehicle to get to work, take our children to school, go shopping etc.. as there is no public transport to take me to work (which is a 30 mile round trip every day) how will we manage.? as we live out in the sticks . we have over £100K of unsecured debts which is currently being managed through gregory pennington (which we only pay £200 pm to our creditors and have been doing so for 5 years now) we have no assests and live in a rented property. we just want a fresh start... but we need a roadworthy reliable vehicle. Do i just hold off going bankrupt until the finance is payed off to welcome (Oct 2012) where the car will be only worth around £2500 at that point and we will have a car that the OR will let us keep.? The prospect of loosing our car is not an option for us the stress of not being able to get to work and take our children to school outweighs the benifit at the moment of going bankrupt... Can anyone advise.?

thanks for your input... yeah i realise that selling the car is not an option.. but i am stuck for any ideas for getting the money together to pay for the bankruptcy charges... do i get yet another credit card just to go bankrupt.. it seems mad that the courts want these fee's when we have no money, hence going bankrupt.???

I am just after a bit of information.. I took out a HP agreement with WCF in 2008, I have never missed a payment over the past 29 months, i still have 19 more payments remaining.. the vehicle has approx £7000 remaining and is worth around £4000... Getting to the point.. myself and my wife are filing for bankruptcy at the end of Jan, due to owing £100K of unsecured debs, we have no assests. In order to go bankrupt we have to pay the £1200 fees for the pair of us to go bankrupt. I want to sell the vehicle i have through WCF to pay for the fees and the monies left over pay for a cheaper car As i will be made bankrupt "hopefully" will the debt from WCF be included in my bankruptcy...?? and that will be the end of it.? will WCF be able to search for the buyer of the vehicle and chase them for the debt by repossesing the car that I sold to them.? I dont know what else to do to raise the cost for the fees.? My veiw is that I have paid nearly £9K to WCF, and if i somehow find the fees for bankruptcy elsewhere (which i wont)the official receiver will i persume give the car back to wcf and i will be left with no car to et to work.. Any views on this matter will be a great help to me.... I dont want the buyer of the car to get any hastle after i am made bankrupt... nor do i want to be commiting a criminal offence "Fraud.?" by selling the car.