car on finance after bankruptcy

suejgem

hi was declared and discharged from bankruptcy august this year,i have a car on finance from which the loan was taken out before my bankruptcy date,question is my mother has said she will buy me a car so i can get rid of the hp its about £200 pounds a month which as my income has gone down recently im struggling to afford,would i be able to send the car back to the hp company,would they be able to chase me for any shortfall on the account or would it fall into my bankruptcy as the agreement was before my bankruptcy date,did my bankruptcy in fact make the hp contract nil and void
thanks susan

curly04

Im sure you can include this in your BR as it was signed before you became BR

suejgem

curly04 wrote: »

Im sure you can include this in your BR as it was signed before you became BR

this would make things a lot easier if i could thanks for your reply curly

suejgem

anyone else any idea pleasssssssssssssssssssssseeeeeeeeeeeeeeeeeeeeeeeee

maxmycardagain

either way (HP or borrowed money) if pre-BR its wiped in the BR, if HP then the company could elect to snatch it back if they werent happy or you didnt pay the monthlies

suejgem

anyone bump bump bump

curly04

Sue

It would be included - dont worry to much

Curls

now

I am sure it would be included, it is a secured debt but once it becomes unsecured it can be included. Fermi may be along in a min and give you a better idea

amacuk

A lot of the car finance company's T&Cs say they will terminate the agreement if you become insolvent. I would dump it back at a dealer with the keys and a note and walk (obviously in the day when you can hand the keys to someone - and not just leave it outside)!

It'll form another debt in your Bankruptcy and when they contact you point them to the OR.

Cheers.

curly04

what ever you do if they ask you to sign something DONT