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    • Jc1
    • By Jc1 4th Dec 17, 2:57 PM
    • 10Posts
    • 0Thanks
    Jc1
    HP Disaster? HELP please
    • #1
    • 4th Dec 17, 2:57 PM
    HP Disaster? HELP please 4th Dec 17 at 2:57 PM
    Hi All,

    I have got myself in an awful mess with my HP. I am still paying it and havenít missed a payment, however, Iím beginning to struggle with the £250 a month.

    On top of this I donít actually have the bike anymore, I only have the V5 in my name.

    I gave my friend a loan of it and he changed it into his name for insurance purposes, however, this caused hassle in terms of the bike being in his name which I never thought about. I thought as long as I was paying it then it would have been fine. The Finance company were on my case demanding the full balance as they thought Iíd sold it.


    So, I got it back from my friend and sent the v5 off again to get it back in my name which was fine. However, while riding it home third party only using the ďdrive any other vehicleĒ with the insurance on my other bike I crashed it. No other vehicles were involved but I caused enough damage to write the bike off, forks bent, handlebars bent, tank dented in etc.

    Panicking and trying to get some money for what was left of the bike, I sold it as it was (without the V5) as the engine was still good. In my panic I thought I would just keep the v5 in my name and continue to pay for it but I am now struggling and keeping a roof over the families head is obviously my priority. I havenít yet missed a payment but it is about to come, if I still had the bike they could have taken it back but I donít.

    On top of this Iím about to go bankrupt too.

    Any help in this mess I have got myself in would be very much appreciated.

    What are my options?

    Thanks.
Page 2
    • -taff
    • By -taff 7th Dec 17, 11:22 PM
    • 7,186 Posts
    • 5,170 Thanks
    -taff
    Declare the bike scrapped. Add the finance to the bankruptcy
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