Debt rising post-BR but caused BY going BR..

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maxmycardagain
maxmycardagain Posts: 5,747 Forumite
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in Bankruptcy & living with it
So...

If I went bankrupt my car would be snatched back, but if the HP company sold it then sent me a bill post-BR for any damage/excess mileage or their losses are these included in the BR?
Now we all know how it felt to play in the band on the Titanic...

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  • joa1210
    joa1210 Posts: 73 Forumite
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    from what i can gather, these should be included in the BR as you are handing the car back pre bankruptcy.
    we are just experiencing the same dilema, we have a pcp arrangment that is no longer financially viable for us, but we face a £4k shortfall.
    coupled with my husbands other debts BR is the only way forward
  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
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    Hi there


    You have a liability for the HP car prior to going bankrupt. That means if your bankruptcy led to the car being handed back to the finance company, any shortfall debt you were left with should still be written off in your bankruptcy. I hope this helps.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • maxmycardagain
    maxmycardagain Posts: 5,747 Forumite
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    National_Debtline wrote: »
    Hi there


    You have a liability for the HP car prior to going bankrupt. That means if your bankruptcy led to the car being handed back to the finance company, any shortfall debt you were left with should still be written off in your bankruptcy. I hope this helps.


    Susie
    @natdebtline

    Thanks, ive asked if a 3rd party could take over the payments but the finance say no no no.... oh well, sod em
    Now we all know how it felt to play in the band on the Titanic...
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