van on Hp

jay09

I posted another thread about my situation but would just like to clear one point up if possible. I have a van on HP this will be the sole household vehicle after BR, will the agreement be cancelled (by creditors or OR) and van returned. It has never been in arrears and will continue to be paid.

philnicandamy

Depends......if there's a bankruptcy clause in the HP paperwork then the company can take the van from you...
bit of a read here

http://www.insolvency.gov.uk/freedomofinformation/technical/casehelpmanual/A/AssetsSubjectToCredit.htm

JCS1

For vehciles on HP:

• If there is equity in the vehicle, the OR may be interested. In these (rare) cases, they would take the vehicle, pay off the HP and sell the vehicle with the surplus going to your BR estate
• If no equity, then the OR is not intererest and will send letter of non-adopt to the HP Company
• Then down to the HP company to decide.