Unpaid lease

smartieswife

Can anyone help?
I have purchased an item privately from a buyer but am now concerned he has not repaid the finance outstanding on it. Where do I stand? can the item be taken off me?
Thanks

neilmcl

Potentially yes, the item or at least part of it belongs to the finance company.

myrnahaz

I thought it was illegal to sell something with outstanding HP? The seller is in the wrong (he/she is still responsible for the debt) but there's also the risk that the HP company can reclaim the item from you if the original buyer hasn't paid-off a certain percentage of the debt. I suppose it would then be up to you to sue the seller for the amount you paid.
Incidentally, what makes you think the seller has outstanding debt on the item? Do you know who the hP company is? If so, it may be beneficial to you if you contact the HP company as soon as possible.