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Mike62
Starting Member
United Kingdom
31 Posts |
 Posted - 27 November 2010 : 21:58:35
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Hello all,
Our car was taken back by the finance company a couple of weeks ago, we hadn't missed any payments but broke the "Small print" conditions as we became BR. The OR had no interest in it as no equity etc, but I'm wondering now will we still be liable for the probable shortfall on it after it's auctioned off?.
We had shown the loan agreement on our SOA and as we heard no more from the trustee thought we'd be ok to keep it. So,as we did have it on our paperwork as a debt at time of BR will this stop the finance company coming after us for the difference or have we got this pleasure to look forward to?.
Regards, Mike. |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 27 November 2010 : 23:26:58
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Mike,
any shortfall resulting from the sale of your repossessed vehicle will be claimed in the bankruptcy,by the finance company,
Big Al |
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Mike62
Starting Member
United Kingdom
31 Posts |
Posted - 28 November 2010 : 10:42:34
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Hi Big Al,
Thank you,that's a relief. One of the high points amongst lots of lows on this rollercoaster.
Regards, Mike. |
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Does BR cover shortfall in car finance?.
