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| splinter1234 |
Posted - 23 March 2010 : 15:26:39
have a question for you if I may, about a car I had. I recently gave my car away to a friend as I have now a company car. At the time and within the bankrupty, the Trustee informed that the car was not an asset as I owed more than the car was worth. So it was of no interest to them. The actual car credit company who at the time sold on the debt to a collection firm have not contacted me as I believe they have now no interest. The figures show that I owed around £1,500.00 but the car was only worth now £150.00. It has rusted away for the last 6 months and that was the reason why I gave it to a friend. I will be released from Bankrupty on May 21st 2010.
1) are the credit firm likley to now chase me after 11 months ?
2) should I have given the car away, as I was otherwise going to scrap it? |
| 1 L A T E S T R E P L I E S (Newest First) |
| Bridgewood |
Posted - 23 March 2010 : 16:01:53
Hi Splinter
If I understand correctly, you owned a car subject to HP - value approx £150, HP approx £1,500 - which you gave to a friend
As far the bankruptcy is concerned, it is probable that the outstanding finance will be a claim in the bankruptcy - you shouldn't have given the car away, and technically the HP company could still collect it, but in view of the estimated value I doubt any further action would be taken |
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