Cars on contract hire

fiveyearplan

Yes, it does get put into the BR but the HP company kept telling me I'd have to pay and wanted me to sign to say I was liable for any shortfall. I didn't sign therefore they couldn't take the car away without a court order. So I made them take me to court and yes, as expected, the car got taken but I made my point that I wasn't liable for the shortfall.

custard_cream_3

Well, I've just spoken to the contract hire company and they said that because half the remaining rentals are due if you terminate the agreement early, that would be added to the bankruptcy. She also then went on to say that they might give me ten years to repay it...I don't think she was quite right there!

I guess I could ask the contract hire firm if I could keep the car at a reduced payment, because the receiver may be ok if I'm paying less (as I need a car) and the contract hire firm would probably get more out of the car if they let me do that than reposessing it and trying to sell it.

We shall see.