Banrupcy and assets

robsimps53

hi everyone, just one or two quick questions

I currently have a motorcycle which is worth around £2000 to £2500 and at the moment i have £1200 outstanding on the finance. When im back in work i will be using it alot then, how will this be affected when i go bankrupt

1, will the fiance company take it when they find out i have gone BR
1, or will they allow me to keep it as i use it for work

thanks

tigerfeet2006

Is it on HP or was it a loan?

robsimps53

it's on hp

robsimps53

anybody have any ideas on this

thanks

maxmycardagain

robsimps53 wrote: »

hi everyone, just one or two quick questions

I currently have a motorcycle which is worth around £2000 to £2500 and at the moment i have £1200 outstanding on the finance. When im back in work i will be using it alot then, how will this be affected when i go bankrupt

1, will the fiance company take it when they find out i have gone BR
1, or will they allow me to keep it as i use it for work

thanks

if your not IN work you wont need it and the OR would normally want it sold, with it being on HP the finance company may want it back, how far into the HP years are you?

robsimps53

i had it over 2 years and i would of been paying it for a year in May

i will need to travel to work thought once i get a job that is, will they take this into consideration