Can car on HP be included in BR?

startingover

Hi all

I owe about £2.5 k on my car and was wondering if that could be included in my BR as the company will repossess the car? Its in their terms and conditions.

I thinking if i default on the payment I will be able to save up for BR fees faster.

tinybabysteps

Hi, yes it can be included, ours was when we went br in Oct. We are still waiting for them to come and collect it.

startingover

Thanks tinybabysteps.

Did you keep up with the payments? How come its taken them so long to repossess it? I expected them to be around within weeks:eek:

startingover

Can anyone else offer any advice on my car pls?

tigerfeet2006

startingover wrote: »

Hi all

I owe about £2.5 k on my car and was wondering if that could be included in my BR as the company will repossess the car? Its in their terms and conditions.

I thinking if i default on the payment I will be able to save up for BR fees faster.

Yep! default on the patments and tell the HP company you are going BR. Include them on your petition as a creditor.

gpkwells

I had a car on HP when I went BR.

I stopped payments and included what I owed in BR.

It took approx 4 months for them to reposses the car!!!

startingover

thanks gpkwells could you still drive it in the meantime?

My finance is with capitalbank. I've never missed one payment in 4 years but doubt that will be taking into account once BR.

gpkwells

I could have as it was just sat there.

But I had already arranged a replacement and had moved my insurance onto that so didn't.

Ta.

startingover

interesting, so I take it you included the running costs of a car on the SOA Thats exactly what I am planning to do.

Thanks for the info very useful.

tigerfeet2006

Starting over are you going to need a car for work? Have you sorted out a replacement? It might be worth putting some of those repayments towards getting an old banger.

gpkwells

Yeah I included car running costs on SOA as needed it for work.

My parents paid 3500.00 for a car and my OR allowed me to include a monthly payment of £200 to repay them. He also allowed insurance and a car fund of £50 per month to cover mot tax service tyres etc.

It was some time ago (nearly 6 years) and I don't know if they have got stricter on these things??

I cleared all this with him at my interview and then proceeded to buy the car!