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xLulzx
Starting Member

United Kingdom
1 Posts

Posted - 15 October 2012 :  02:12:19  Show Profile  Reply with Quote
If you goes Bankrupt do they take things that's on Hire Purchase to sell off to pay the Debts ?

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 15 October 2012 :  06:26:00  Show Profile  Reply with Quote
Hi and welcome.

It would really depend upon what it was - the OR is unlikely to take them unless they are valuable but the creditor is within their rights to seize the goods back.
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Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 15 October 2012 :  12:34:32  Show Profile  Reply with Quote
Hi xLulzx,

The hire purchase company own the goods and you will find that the agreement will be terminated once you are bankrupt, so the company may want to reposses.

Please speak to an expert for debt advice if you haven't done so already.



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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