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L555HUL
Starting Member
21 Posts |
 Posted - 23 August 2012 : 15:48:50
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Hi all,
I have over the last two weeks been made BR. I have had my meeting with the OR and have agreed a IPA. I had my car on HP with RCI Finance and I am very much aware that due to the BR the car will be repossessed. They have sent a notice of this today, but I’m puzzled by it. It states that the car will repossessed by 31st AUG (not before), but they say I have to return the car to them. Problem is, I have since obtained another car (fully paid for) and I am only insured to drive that car not the one on HP. Moreover, they have not stipulated where I have to return the car to. Can I request them to pick it up and what will be the procedure when they do?
Thanks
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terry d
Starting Member
United Kingdom
18 Posts |
Posted - 23 August 2012 : 17:15:26
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ring them and explain you have no insurance to drive their car and they will have to collect it,as you are now BR there are no charges they can add anyway,just let them sort it out,and also tell your OR about this situation
BANKRUPT 1ST AUGUST 2012 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 August 2012 : 17:25:14
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Hi,
I assume they will just want the keys and the registration document but you do need to clarify it with the company.
Give them a call to explain your circumstances. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 August 2012 : 17:47:10
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Hi,
As the others have said, call them and they will arrange collection.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 31 August 2012 : 20:58:57
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just distant word of warning
do not sign any forms for the collection of the car (if not too late).
in a sensible world the car will be collected adn any shortfall or debt would be included in your bankruptcy
however (particularily with mortgages) they are putting new clauses into the paperwork, getting you to sign the form on the handover or collection date adn then technically they claim that the date of signature is the date of loan, if you are already BR, they are trying to class this is a new loan and outside of the remit of bankruptcy !!!!!!!!!
it is rare but I am having a battle with one large mortgage company about this issue so be warned.
This is all about getting your ducks in the right order, properly planning BR and not rushing into first available court.
My advice dont sign, if they want the car then they can collect it.
Good Luck Richard,
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 01 September 2012 : 08:32:32
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| Did you manage to get this sorted? |
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Hi all,I have over the last two weeks been made BR
