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sjbyron
Average Member
United Kingdom
746 Posts |
 Posted - 05 December 2008 : 00:49:18
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Hi
With a car on HP With GEMoney and going bankrupt, will I loose the car, its HP Ends in November 2010 and nothing is mentioned in the HP Agreement regarding bankruptcy.
Thanks
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 05 December 2008 : 09:49:20
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Hi Stu
That can depend on the OR and the HP Co.
The OR needs to agree that you can pay the finance, as long as its not massive amounts then you may be lucky as they dont want to add to your debts.
If the HP co are happy for you to continue then it may be ok once the OR has agreed it also.
What is the value of the car and what is outstanding on the finance?
Thanks
Jo
x
17 Weeks down 
35 to go 
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 05 December 2008 : 10:35:02
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Hi Jo
The value of the car is £1500 and the outstanding balance is £2492
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 05 December 2008 : 10:57:15
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Hi Stu
I would say that you might be OK as there is clearly a deficit in the amounts, but at the end of the day its down to the OR and the finance co.
LOL
Jo
x
17 Weeks down
35 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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jelly4toes
Starting Member
United Kingdom
15 Posts |
Posted - 08 December 2008 : 10:23:40
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| my or was absolutely ok for me to keep up the hp agreement as i cannot work wthout the car.The finance cpy toyota would not under any circumstances allow me to keep it.in the small print was a clause that said they may recover if insolvant.They would not budge their policy to reposess car. |
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Cars on HP with GEMoney and going Bankrupt
