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Advice re bankrupcy and hire purchase
powie69
Posts: 297 Forumite
Hi,
I have a friend who is in the process of filing for bankrupcy, and they did not know if a car they have got on hire purchase ( have been paying it off for 3 years so far), would be claimed back by the car company, once the bankrupcy happened. Any info would be great.
I have a friend who is in the process of filing for bankrupcy, and they did not know if a car they have got on hire purchase ( have been paying it off for 3 years so far), would be claimed back by the car company, once the bankrupcy happened. Any info would be great.
A woman is like a tea bag. You never know how strong she is until she gets into hot water.:D
0
Comments
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If they need the car for work or other essential transport, it is worth less than £1500 and they can afford it within the budget presented to the official reciever they may be able to keep it. If the O.R. says no way, then the car will have to go back to the finance co. the car is the security on the loan. Try and get the car valued for as little as possible."YOU WANT THE CASH? YOU CAN'T HANDLE THE CASH"0
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