HP Disaster? HELP please

Thomas_The_Tank_Top

After all. You can prove the crash to the OR.

Fireflyaway

I'm not sure I understand. You sold the bike - you got money and you don't physically have it anymore but you have the v5 in your name? So you are still the registered keeper? If im right then I'd be more worried about ' selling' a bike that's still on HP. Maybe I got the wrong end of the stick though?!
If you are about to go bankrupt why pay the HP? The most important thing is to keep a roof over your head and food on the table.
Have hope though. No matter what silly things you did, there is always a way forward and things will get better.

Arleen

Fireflyaway wrote: »

I'm not sure I understand. You sold the bike - you got money and you don't physically have it anymore but you have the v5 in your name? So you are still the registered keeper? If im right then I'd be more worried about ' selling' a bike that's still on HP. Maybe I got the wrong end of the stick though?!
If you are about to go bankrupt why pay the HP? The most important thing is to keep a roof over your head and food on the table.
Have hope though. No matter what silly things you did, there is always a way forward and things will get better.

The bike got wrecked and sold for parts/scrap (after he tried some sort of insurance trick but then reclaimed the bike back). It really doesn't matter anymore, there is no criminal liability here of any kind, and all the civil claims will be satisfied by the bankrupcy.

Jc1

Thanks for the replies folks.

Yes, I sold the parts I could to salvage some money thinking I was going to have to just keep paying the monthly payments of £250. I kept the V5 so it remained in my name (which it has to for the HP). I haven't missed a payment but we have had to move house and the rent is more so it's now at the point where I'm going to have to start missing the payments. This means they are obviously going to come looking for the bike back which isn't there, so i'm panicking.

I even contacted the finance company to say I was struggling to see if they could offer me a reduced payment to help out for a few months, however, they were NO help what so ever. I've paid them £2000 so far and the settlement figure is £48 less than what the finance was for in the first place. I know I signed up to it but think it's disgusting they couldn't offer any help. I obviously never said anything about not actually having the bike :embarasse

Can't believe I have got myself in this position, hopefully it is a simple as adding it into the bankruptcy.

[Deleted User]

Jc1 wrote: »

think it's disgusting they couldn't offer any help. I obviously never said anything about not actually having the bike :embarasse

I don't think you're out ranking them in the morality stakes.

Just be happy that the bankruptcy will resolve the issue.

DCFC79

You were happy with the monthly payments when you got the bike so whats changed ?

Jc1

Deleted_User wrote: »

I don't think you're out ranking them in the morality stakes.

Just be happy that the bankruptcy will resolve the issue.

I'm on here looking for advice, got plenty other people having a go so you can get to the back of the queue. You're the least of my worries.

:shhh:

Jc1

DCFC79 wrote: »

You were happy with the monthly payments when you got the bike so whats changed ?

The answer is in the thread already.

phillw

Jc1 wrote: »

This means they are obviously going to come looking for the bike back which isn't there, so i'm panicking.

Panic is your bodies way of telling you to do something, but there is nothing you can do as the bike is gone. Worrying won't help, you need to just accept there will be awkward questions & do something healthy that releases the stress instead (go for a run, be proactive etc).

Jc1 wrote: »

I'm on here looking for advice, got plenty other people having a go so you can get to the back of the queue. You're the least of my worries.

People are much less likely to have a go if they see you are taking responsibility and not trying to lay blame on others.

-taff

Declare the bike scrapped. Add the finance to the bankruptcy