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selling leased equipment
isolt_2
Posts: 3 Newbie
I am wondering if I am okay to sell some leased equipment which I defaulted on.
I was discharged from bankruptcy over 3 years ago, but still have leased business equipment (the lease expired over 2 years ago & I had been given the chance to return it during my bankruptcy proceedings to have the debt reduced, but couldn't afford transport/ courier as barely managed to get the court fees).
The company that I leased it from was itself declared bankrupt a couple of years ago.
I was discharged from bankruptcy over 3 years ago, but still have leased business equipment (the lease expired over 2 years ago & I had been given the chance to return it during my bankruptcy proceedings to have the debt reduced, but couldn't afford transport/ courier as barely managed to get the court fees).
The company that I leased it from was itself declared bankrupt a couple of years ago.
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Hmm, I'm wondering if they wrote it off or whether they should have declared it an asset in their BR?
One part of me says check it out, the other says nobody's after the stuff now so it's yours to do with...
Having said that, what was the outcome when you couldn't return the goods to reduce the debt? Did you receive any correspondence about the fact you still had the goods but had not fully paid for them?
Usually with something on HP/leasing, if the company wants it back they will collect.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
BUMP for any other thoughts and comments for the OP?When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
As the company that you leased the equipment was liquidated a couple of years ago you should now check on the Companies House register to see if it has been formally disolved. This will be shown on the Company register there. If it has it means that the liquidation process has been concluded and the Insolvency Practitioner/OR have realised all the assets of the Company and concluded there investigation and closed the company. If this is the case the goods are yours to do what you want with. If anyone asks anything in the future (which IMHO will simply not happen) you simply reply "they were collected and you have no recollection or paperwork of who by or where they went to" simple as that0
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Would that not be a lieHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Oops, missed that. Great advice right up to the last sentence...When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
just had another look at the paperwork & the debt was transfered to a debt collection company, who were aware I hadn't returned the equipment, I've had no contact from them either since the bankruptcy & the lease expired over 2 years ago.0
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''bump'' ...0
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