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  • FIRST POST
    • bunnymtg
    • By bunnymtg 12th Mar 18, 11:41 AM
    • 37Posts
    • 5Thanks
    bunnymtg
    HP sold car years ago
    • #1
    • 12th Mar 18, 11:41 AM
    HP sold car years ago 12th Mar 18 at 11:41 AM
    Hi there,

    Iím not sure the purpose of my post but Iíll keep it short(try!)

    I had a mis spent youth, went a bit of the rails, awful with money, partying, depression, the lot!

    10 years on and Iíve completely turned my life around. Iím married with children. I have a home. Iím very sensible!

    Iím thinking of a career change into mortgage advice. I currently work in an estate agents and I find the Mortgage element
    so interesting. I know they application process are as stringent as when buying a house. Debts, outgoings etc. I was having a read through and it really touched a raw nerve about my youth.

    I took out a HP agreement on my car when I was very young. I naively sold it (had no idea of whether this was allowed or anything! I just did it) I was planning a trip to OZ and needed to get rid of the car. No questions asked. Sold it.

    I buried my head in the sand and ignored the finance company for a bit and then finally got back in touch. Iíve been paying off small amounts now for probably the last 8 years.
    The finance company found out but were not remotely bothered. They were just interested in making sure they got back hat they were owed. I have no idea if they contacted the people I sold it too. I did a house check just now which came back clear of hpi. I can see they also had the car up until very recently.

    Now Iím older, I feel awful that I have done this. I have so many questions. Did the people I sold it to have to pay anything? Are they the reason itís hpi clear? Has it ever had hpi registered on it? (Its 100% go agreement that I signed) did I cause them a load of stress or were they completely blissfully unaware and the finance company never contacted them?
    Iím hoping by the end of the year to have saved to offer a final settlement and end the debt.
    I am too afraid to ask the financing company any of the questions because I donít want to spark any trouble.
    Iíve never had a criminal record but worry about the implications this could have had on me especially wanting to move into the mortgage industry.
    Iím such an honest person to the point where I feel the need to ďconfessĒ ridiculous things to my husband all the time! Ridiculous as in minor things normal people wouldnít even think twice about!
    I feel this could jeopardise my chances of a career change.

    I feel in such a pickle. Part of me wants to contact the people I sold it too but I donít want to open a can of worms. Thatís another thing, they had my number and email address and never once contacted me which makes me wonder if they even knew?

    This has been running in the background for years (paying it off tiny amounts monthly) and Iíve had no bumps along the way
    But my conscience is really taking a battering just from reading this Mortgage advisor application. Itís triggered some old things that Iím desperately ashamed of.

    Would love to hear from someone although I donít quite no what I am asking.

    Bunny x
Page 1
    • sourcrates
    • By sourcrates 12th Mar 18, 12:28 PM
    • 14,310 Posts
    • 13,517 Thanks
    sourcrates
    • #2
    • 12th Mar 18, 12:28 PM
    • #2
    • 12th Mar 18, 12:28 PM
    Whatever happened to the car, or its buyer, is now history.

    If there have been no repercussions in 10 years, then its likely there never will be any.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Tarambor
    • By Tarambor 12th Mar 18, 2:20 PM
    • 3,033 Posts
    • 2,193 Thanks
    Tarambor
    • #3
    • 12th Mar 18, 2:20 PM
    • #3
    • 12th Mar 18, 2:20 PM
    If the loan was a bank loan it wouldn't have been secured on the car so no problems for anyone else. If it had been secured on the car then back then the finance company could take back the car from whoever had it but then you'd not owe the outstanding balance, you'd only owe a portion of it as they would have sold the car to cover the loan. So the fact you owe the whole outstanding balance suggests that nothing of that sort happened.
    • jonesMUFCforever
    • By jonesMUFCforever 12th Mar 18, 6:47 PM
    • 24,867 Posts
    • 12,054 Thanks
    jonesMUFCforever
    • #4
    • 12th Mar 18, 6:47 PM
    • #4
    • 12th Mar 18, 6:47 PM
    What do the CRA's tell you about this?
    What goes around - comes around
    give lots and you will always receive lots
    • bunnymtg
    • By bunnymtg 12th Mar 18, 7:47 PM
    • 37 Posts
    • 5 Thanks
    bunnymtg
    • #5
    • 12th Mar 18, 7:47 PM
    • #5
    • 12th Mar 18, 7:47 PM
    Sourcrates thank you for you advice. I see your a ďdebt guyĒ, have you come across this at all, ever?

    Tarambor- thank you, definately HP. No sign of it on the hpi check though!

    Jones- All three report absolutely nothing!
    • McKneff
    • By McKneff 12th Mar 18, 8:47 PM
    • 36,033 Posts
    • 46,440 Thanks
    McKneff
    • #6
    • 12th Mar 18, 8:47 PM
    • #6
    • 12th Mar 18, 8:47 PM
    Get on with your life, stop worrying and good luck. x

    Annie
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • bobbymotors
    • By bobbymotors 13th Mar 18, 6:17 PM
    • 637 Posts
    • 899 Thanks
    bobbymotors
    • #7
    • 13th Mar 18, 6:17 PM
    • #7
    • 13th Mar 18, 6:17 PM
    If the loan was a bank loan it wouldn't have been secured on the car so no problems for anyone else. If it had been secured on the car then back then the finance company could take back the car from whoever had it but then you'd not owe the outstanding balance, you'd only owe a portion of it as they would have sold the car to cover the loan. So the fact you owe the whole outstanding balance suggests that nothing of that sort happened.
    Originally posted by Tarambor

    Sorry, that's wrong, although correct about the bank loan bit.

    This comes up periodically on these boards.

    If you are a private buyer and unknowingly buy a car that has outstanding HP on it, you will own the car and get good title to it: the finance company will chase the original borrower.

    Google hp innocent purchaser
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