Keeping a finance car after bankruptcy

MovingForwards

Do you still have your HP contract? If so read what it says about reaching the end of the HP agreement, is it then yours? Do you have to make a final payment and then it is yours? Does it have to be returned?

You are going to have to move it with you until you get it all sorted out.

alltaken

mitchellleary wrote: »

Hi,


Thanks for the reply. I know 100% that the car isn't mine. As the finance company provided me with a hire purchase agreement, they are the owners. I was just wondering if there was a time limit for them to recover their debt through the asset or money(they can't attempt to recover it through money as the car is included in my bankruptcy and so the car is the only recoverable asset).

The aim is to prompt somebody to either write to you confirming it's yours to keep or they will be collecting on X date. Send them an email or a letter?

maxmycardagain

Dont be surprised if you wake one day to find its been clamped and there is a notice on the screen, the clampers operate overnight to catch cars at the keepers home address, this may cause some issues for your transport arrangements.

On the other hand, working with any repo agents makes their task easy and reduces your possible inconvenience.

How much of the original balance do you owe, is there any equity in the vehicle top make it worth taking back?

maxmycardagain

if it does go SORN it ASAP.......you need the V5 document reference