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T O P I C R E V I E W
L123
Posted - 13 May 2008 : 17:26:06 i got a bike on finance 2yr ago and have since sold it.i am still paying finance but if i go bankrupt what will happen to finance
1 L A T E S T R E P L I E S (Newest First)
melanie_giles
Posted - 13 May 2008 : 22:45:06 Hi LI23
It is an offence to sell an asset which is subject to HP without the agreement of the creditor concerned. So the OR will want to understand what happened to the sale proceeds and find out why they were not paid over to the HP company. You will not be permitted to continue making the payments to the finance company, who will become an unsecured creditors under such proceedings.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
