black horse want my car

blokes2

hi ,
i put a thread earlier about black horse re possesing my car i have on hp with them.
if the car is now only worth 2500 maximum, what are the chances of the court letting me keep it and offering black horse what i can afford. i would have to replace the car anyway if they take it as i NEED it for work 100%

tetley

its not your car im afraid,its owned by the finance company untill all payments have been made,however if you have payed a certain percentage of the loan off ( im not sure how much,i thinks its about 65%,then they cant take the car off you,thet wont let you sell it,but you can hand it back.
check your loan agreement.

rog2

Hi blokes2 - I had a car 'repossessed' by BHF, but that was before I discovered my rights:

You need, first of all, to check your agreement to see whether it is a 'hire purchase' agreement, in which case the car elongs to them until you make the final payment, or whether it is a loan agreement, in which case the car is irrelevant to the agreement.

Let us, for the time being at least, assume that it is an 'HP' agreement:

If you have paid more than a third of the total cost of the HP, then the lender will require a Court Order to repossess the vehicle. Even if you have paid LESS than a third, then the lender can not enter your property, without a Court Order, to repossess the vehicle.

In any case, they must send you a letter, giving you the chance to put thing right before commencing the repossession process.

http://www.insolvencyhelpline.co.uk/legal_issues_explained/car_repossession.php

It may be that BHF will accept an offer of less than the outstanding amount in order to close the account and allow you to keep the car, but, if my experiences with them are anything to go by, they are very difficult people to negociate with.

blokes2

thanks,
so if they get a court order will i hear from the court about a date of reposession or will they just turn up and take it??
i also heard i can apply for more time or make a REASONABLE offer. is this done after the court order. black horse told me there would be papers for me with the letter from the court but i am confused.

rog2

blokes2 wrote: »

so if they get a court order will i hear from the court about a date of reposession or will they just turn up and take it??
i also heard i can apply for more time or make a REASONABLE offer. is this done after the court order. black horse told me there would be papers for me with the letter from the court but i am confused.

If 'Bailiffs' are instructed, by the Court, to 'repossess' your car, then they would, normally, have to give 7 days notice of their intended visit. I'm not sure what would happen if the Court simply tells BHF that they can collect the car - in my case a guy just turned up at my work unit - walked into the next door office and announced to all and sundry that he was 'here to repossess my car'. :mad: :mad:

I think that what Black Horse mean is that when you are issued with the Court summons, there is a space, on the claim form, for you to enter a defence - asically this asks you if you admit all or part of the claim and allows you to make an offer - to the court - of payment, usually by instalments and at a rate that you can afford. This offer is made to the Court and it is up to the Court (NOT BHF) as to whether it is acceptable, based on your income/expenditure statement. If the Court decides to accept your offer, then it will issue a 'Judgement' to that effect, i.e. ordering you to make monthly payments. Any such order would be just as binding upon BHF as it would be on you.

blokes2

hi,
i think weighing everything up i will have to go bankrupt. how will this affect my court hearing for reposession? do i state that intend going bankrupt on the admittance form, or just fill in the part that says i will hand the car back.
i am wondering that if i dont tell them i am applying for bankruptcy i will committing and offence.

rog2

blokes2 wrote: »

i am wondering that if i dont tell them i am applying for bankruptcy i will committing and offence.

No, blokes, that, in itself will NOT be an offence.

It may well be a contributory factor towards 'deciding on bankruptcy' and should be quoted as a reason when filling out your bankruptcy forms.

In view of the circumstances it might be easier, albeit not very convenient, to just hand back the car.