if i have to go BR in January and the OR says i can keep the car which is on finance at £138 a month and no payments missed but for whatever reason i have to miss payments during my BR what happens then?
Sounds like a silly question but if i am already BR then does the OR simply re-adjust my IPA?
If you miss payments on the car, the finance company can reposess the car and you would be liable for the shortfall. However, if this happens whilst you are BR, you should be able to have this included in the BR and written off.
The OR can adjust your IPA/IPO to deal with changes in your circumstances.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
What if.....?
Posted - 04 September 2008 : 09:02:05
