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T O P I C R E V I E W
rabbit007
Posted - 29 July 2009 : 14:31:55 help me please,i am 3 months behind on my hp car this august.i want to call the finance company to tell them that i cant afford to pay anymore and give them the car.the car is 18months to pay.i have paid 7months already.do you think they still want me to pay my behind payment.and is it alrigth to tell them that i am petitioning bankruptcy this september
3 L A T E S T R E P L I E S (Newest First)
rabbit007
Posted - 29 July 2009 : 20:21:22 thank u very much for your advice
gettingoutofdebt
Posted - 29 July 2009 : 18:35:27 The company will want their money for the back payments as you have had the car for these 3 months but haven't paid for it. If you don't need the car any more then call the company and tell them to collect it and that you are declaring BR shortly. They will probably still chase you for the money but it will only be for a month or two.
The other option (if you are not being chased for the money at the moment) is to keep the car until you declare BR and then call them and explain the situation. This would mean that they wouldn't have a chance to chase you for the unpaid debt as it would have been written off in the BR.
adelebw
Posted - 29 July 2009 : 14:46:14 How much is the car worth??? Is you car definitely on HP for a personal loan
The OR (Official Receiver) may not want the car depending on the value and your HP company might let you carry on paying the instalments. If the car is of value the OR will sell it and maybe let you purchase a cheaper one. Be upfront with the HP company and see if they allow people who have declared BR to carry on paying
