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jayne.p
Starting Member
2 Posts |
 Posted - 03 July 2010 : 17:47:13
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Hello,
I was made Bankrupt in december 2006, The liquidator at that time allowed me to keep my car (which i had taken out an hp loan with welcome finance in June 2006) in order that i could continue to get to work and support my children as I was a divorced. I advised welcome finance of the situation and they were happy as long as my monthly payments were made. I did so for 36 months, however, due to my 2nd marriage breaking down and not in employment I was not able to make full payments to welcome finance as from August 2009,an arrangement of £10.00 per month was agreed too. In june 2010 I decided to voluntary return my car to them, thinking that i would have no further cost to pay out. I have received advice from them stating That because of insurances eg. ppi and arrears from August 2009 I still owe them £2343.35 and are totally ignoring the fact that I am Bankrupt, Do I still have to pay these charges although I am Bankrupt. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 03 July 2010 : 18:19:22
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Hi Jayne P
have you checked the insolvency.gov web site. I think that you would have been discharged from your bankruptcy
during BR the OR would have looked at your car and assigned it back to you, with assigning it back to you, you have undertaken responsibility for the ownership and payment of the car.
My interpretation of your thread is that as the debt has been incurred since bankruptcy you will be responsible for the debt. (sorry)
If this is your only debt then try to negotiate with welcome finance, it is very unlikely that they will bankrupt you over a small debt as it will cost them the same amount or more to do so. write to welcome finance explaining your situation they may be understanding but i doubt it
regards Richard P (no relative i think)
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debtinfo
forum expert
2826 Posts |
Posted - 03 July 2010 : 19:10:40
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The OR does not assign the agreement back to the OR, they just do not adopt the agreement themselves. So the original agreement stands and that was signed prior to the bankruptcy and so should be covered unless the bankrupt agrees to accept responsibility themselves.
The question is if continuing payments is an admission of accepting responsibility for or starting a new agreement, i dont believe it does |
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jayne.p
Starting Member
2 Posts |
Posted - 04 July 2010 : 19:57:00
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Hi Thanks for your help,
Ref your last paragraph,do you know who I can ask for sure As i would like to be 100% correct before falling flat on my face. many thanks.
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Do I still have to pay charges although I'm Bankrupt
