| Author |
 Topic  |
|
|
ginaa
Starting Member
1 Posts |
 Posted - 11 October 2008 : 21:32:26
|
| my daughter has a laptop on hire purchase that she pays but it is in my name do i have to declare this in my bankrupcy.and what would happen if i did or didnt declare it. |
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 12 October 2008 : 09:38:32
|
Hi Ginaa and Welcome
You would have to declare it, but as its secured lending i believe it will be down to you and your HP co.
As long as the payments are not extreme then the OR may allow it to carry on, i think thats right, i dare say if im wrong i will be corrected.
I had a large computer on finance which went on my SOA and i have not paid mine, nothing has been done about it yet with regards to the HP co and really im now not sure where wee stand as we have not paid them.
On the other hand it could also be seen as preferntial to pay them and not the others that is why i did not pay mine.
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
 |
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 12 October 2008 : 10:06:57
|
Hi
you firstly need to determine whether or not this laptop is, in fact, on HP.If credit was taken out at a high street store it may well NOT be HP.
You need to read the credit agreement.
If it is you need to enter the item in the secured section of your SoA but explain, if you can, to the OR that you are not servicing the payments.
You should then be able to keep the item particularly as you are not contributing towards the purchase.
If it is not, in fact, HP then the borrowing will be written off in your BR and the likelihood is you will get to keep it unless it is of very high value.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 12 October 2008 : 10:10:27
|
So John,
My computer was finance taken from a large co i think it was a loan and not HP does that mean my computer is safeish.
Any ideas, i did write my one on my SOA in the secured and unsecured sections as i was not too sure.
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 12 October 2008 : 10:14:39
|
Oh and John
Just had a look at a copy of my agreement cant see HP but its says
Fixed Sum Loan Agreement
Is that HP or a plan loan.
Thanks
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
|
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 12 October 2008 : 11:43:27
|
Hi Jo
that's a loan.
Rarely is anyone interested in reclaiming, what are by now, 2nd hand goods but of course as the debt is to be written off the OR could claim it if it is a luxury item such as a PC, but then the usual would apply in that the item would need to be of sufficient auction value to warrant the reclaim after collection and auction fees are taken into consideration.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 12 October 2008 : 11:48:39
|
Hi John
I wrote on the SOA value about £250 now and when i spoke to her she asked and i said it again.
Nothing has been said about it since.
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
|
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 12 October 2008 : 11:59:10
|
Hi Jo
I doubt that it will.
The OR will know that in most cases the estimations we give for such items are made without any knowledge of auction values. Either the OR will have an idea, or a contact will put them straight, and he will then weigh that against costs.
It's rarely worth their while where household items are involved.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 12 October 2008 : 12:16:27
|
Again John
Thanks
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
|
|
| |
Topic |
|
my daughter has a laptop on hire purchase
