Sold the TV - it was on HP !

haddit

I have sold a couple of assets during desperate times in the last couple of months that were on a lease purchase arrangement. I am up to date on the lease purchase payments, but will the OR say about it when I go BR ?

Should Itry and get a loan to clear these debts so it does not become an issue when I go BR ?

I know it was a crazy thing to do - but it was that or not pay the mortgage and the leccy bill.

tigerfeet2006

NOOOO!!! Don't get a loan. That will make things 10 times worse. What's done is done.

How many payments are left for these items?

stubie

Never mind about the OR, the items legally were not your to sell :eek: . I think that comes under a different law not a BRc law.

chelseabun_3

From what I just read on National Debtline website, you could be subject to a BRO for selling HP items, as well as prosecution by OR for selling stuff that was not legally yours. You need to get official advice on this, Haddit - it's beyond what we can advise on imo. I would strongly advise you to be totally up front with the OR about it - or things could just get worse. CBx

haddit

Thanks - i know now that it was crazy. But really believed at the time that I could continue to rob peter and pay paul and the companies would never find out as they would have been paid in full.

Item1 - 1 year remaining
Item 2 - 2 years remaining
Both with the same finance company too.

How long can a BRO last ? Will I go to prison?

Absolutely Cr*pping it! My mum said she might be able to pay them off on her credit card - is this allowed?

shadowdragon

haddit wrote: »

Thanks - i know now that it was crazy. But really believed at the time that I could continue to rob peter and pay paul and the companies would never find out as they would have been paid in full.

Item1 - 1 year remaining
Item 2 - 2 years remaining
Both with the same finance company too.

How long can a BRO last ? Will I go to prison? no one could honestly answer that, it depends on how they look at it, off top of my head i see it as stealing/fraud, but it may not be classed as that.

Absolutely Cr*pping it! My mum said she might be able to pay them off on her credit card - is this allowed? Could be seen as favouring a creditor, unless your mum paid them off and you didnt mention them on the forms (someone confirm/correct me on this one?)

How much are the totals owed, were talking about?

stubie

If you are planning in going BR soon DO NOT pay them off. The OR might this this a being preferencial to one of your debtors.

chelseabun_3

A BRO can last from 3 - 15 years. The National Debtline website has info - dont know how to post a link, sorry! As for what the OR will do, I wish I could say it would be ok but I really don't know. Just explain the situation fully, say how sorry you are and make it clear you want to sort it out legally. Phone National Debtline on Monday - 0808 808 4000 and explain the whole thing.

Sorry I can't be more helpful but I really don't want to mislead you or give wrong info - and I'm just a novice here myself!!
CBx

storminbalder

Can't help too much on this. But am 100% certain that Haddit - You are not going to prison.

You have made a mistake. But it was not intentionally criminal - that I am sure of. Whether you will be subject to a BRO is something only others/OR could tell you. But don't panic, a BRO is not something that you should worry unduly about (although it's not exactly pleasant either - although I didn't get one so I'm relying on the information from others on this one).

To go to prison for theft is not relevant unless it was proven in court that you were intending to steal when you took out that HP agreement.

Unlikely.

blind-as-a-bat_2

haddit wrote: »

I have sold a couple of assets during desperate times in the last couple of months that were on a lease purchase arrangement. I am up to date on the lease purchase payments, but will the OR say about it when I go BR ?

Should Itry and get a loan to clear these debts so it does not become an issue when I go BR ?

I know it was a crazy thing to do - but it was that or not pay the mortgage and the leccy bill.

A TV on a leased purchase agreemant? i havnt heard of one of them for a long time, didnt kow anyone still did them

Are you sure they where not just normal credit?

Can i ask who where they with?

A few companies do agreeement and claim ownership of goods till paid, but the agreemant doesnt actually back that up, just want to be sure you actually have done what you think, just in case there is a chance you havnt

haddit

Thanks everyone. The items were leased purchased as they were bought for my business.

As you say, I am just going to be upfront and straight with the OR. Though it was never my intention to steal.