Legal ownership of car on HP?

OhDear

Help!
Where on forms does the car go?

It asks one to list any car "owned" by me. The car is on HP and I'm the registered keeper, but not the legal owner until the final balloon payment is made.

So where on the form 6-28 does it go?

There is another section for a car not owned by me, but that implies it's a car lent to me, not one on an HP agreement?

OD

fiveyearplan

It goes on the section 'cars owned by me'. You'll put down the finance company as one of the creditors.

OhDear

Thanks, FYP.

Does the hp payment go in section 7 - outgoings-other? If not and it just goes in with the other creditors, that would mean that the SOA shows a surplus of £178 ?
As a driving instructor I will need to keep car (OR willing), so surely it needs to put down as an essential payment? I've got to show that we can afford it. Or do I show that surplus and argue the need?

Any ideas? I hope I'm not asking too much!

OD

peachyprice

Hmmm, I wonder if it should go down under 'tools of trade' then, as that's what it is.

It might be worth giving the insolvency service helpline a call.

fiveyearplan

Are you self employed? If you do use the car for driving lessons then by all means put the payment in your SOA.

tigerfeet2006

Number for the Insolvency Helpline is in my signature. But I have to say I agree with Peachy and think it is a tool of the trade.

OhDear

Thanks all!

Helplines closed for weekend and forms go to court first thing Monday, but your answers confirm our gut feelings about where to put info.
If they want to be fussy about exactly how the forms should be filled, then they should employ an intelligent person to write them. I have to say that I think that these forms are the most badly written, presented and illogical forms I have ever had this misfortune to fill. I'm usually quite good at that kind of thing.:A

Thanks again!