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dogs3
Junior Member
157 Posts |
 Posted - 19 October 2008 : 21:17:11
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| my car is on hp, the official receiver allowed the hp payments on the i&e, but the finance company have now decided to reposses the car, as a bankrupt is not allowed a hp finance agreement in their name, they did offer to credit check a nominated person, to have the agreement in their name, with a fee of £60 per nominated person, in my case a relative who has an excellent credit history, my nominated person, according to the finance company failed their requirements, what a waste of £60, for a decision made in 24 hours, there is no right of appeal, and they will not speak about their decision, hiding behind the data protection act, what a scam, £60 a throw, a relative has offered to pay the initial deposit on a new car under a hp agreement in their name, and i would make the monthly payments, similiar to the original payments agreed by the or, will the or allow a new hp agreement on another car in somebody elses name, i need a car for work and family needs. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 21:24:59
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Hi Dogs
Thats a tricky one, as like you pointed out as BR your are not allowed to enter into any agreements until discharged or obtain any credit over £500 without informing them you are a BR.
If you were allowed to originally keep the other car subject to the HP co then really that money now could be seen as excess and could go to the OR to pay towards your creditors.
Can you not if you really need a car only have enough to get a cheap run a round. The OR may not look to favourably on this one as your other car is going back and i think to go into another agreement would be rather silly.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 23 October 2008 : 13:43:05
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Hi i have been thinking about this one and i think that it may be a good idea to actually speak to your OR and ask them if they have any objections as to be honest they allowed the money before and i cant see why within reason they wont allow you to carry on, as long as you dont go for a car thats say £250 per month, try and keep it down to about £150 or same as you had.
Have you spoken to GMAC again as i would have thought there would have been some negotiating that you could have done with them in order to keep your original one.
Best of luck
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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will the or allow a new hp agreement
