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Hire Purchase and DMP
moneysaver09
Posts: 70 Forumite
When doing the CCCS debt remedy would car finance class as Hire Purchase? If so how does this work in DMP, do you keep up full payment on the HP and keep the car?
Any help would be appreciated
Thanks
Any help would be appreciated
Thanks
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Comments
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If you have a true hire purchase then this would be a secured loan and would be outside of the DMP. Sometimes car finance looks like HP but is actually not secured on the car so is unsecured debt and could go in the DMP. Its all down to the terms of your loan.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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