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sjbyron
Average Member
United Kingdom
746 Posts |
 Posted - 17 January 2009 : 00:27:12
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Hi
I have decided to surrender my car which is on HP, it has £3000 left to pay and is going to need repairs soon, a new gear shaft approx 1k and brakes £300 and taking the costs now £220 a month and those and being on long term sickness for depression I have decided to surrender it.
The HP Company wont let me voluntary terminate the contract as they want the OR too, however i dont think that is right I have wrote to them and asked them to close the account down.
Im not driving it any more, makes it better that way for me in a psychological mindset sort of way, so do I need to keep it insured or can I cancel and close down the insurance and do I need to keep it road taxed whilst its on my path, if I dont need to keep it roadtaxed and the road tax runs out in April will I get a refund and how? And the same for insurance, can I can cancel it as it is on my path but I am still the logbook keeper and will I get a refund if I only took the insurance out about 4 days ago.
Thanks
Stu
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 January 2009 : 08:24:00
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Stu
I would put the car to sorn, that way you can canel the insurance. Seeing as your very close to your bankruptcy date now and if your not going to drive it you can only cancel the insurance really if the car has gone to sorn.
I know with the one we had we left it on the drive, cancelled the insurance and put it on sorn until it went, i could get my tax money back as i had more than 2 months left but i dont know if now that you will get any monies bcak if it runs out beg of April.
Take care
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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coxy
New Member
United Kingdom
63 Posts |
Posted - 17 January 2009 : 08:44:49
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Hi sjbyron
As far as i know if your path is private property it doesnt need to be taxed you can pick a form up from post office to claim tax back.
you have to send disc back with form you may be able to download form from dvla website.
you will have to be quick though if you leave it right to end of this month you could lose febuarys.
Insurance if you cancelled it and kept the car off road wouldnt be insured at all thers fire & theft to consider there again premium would be reduced cos your not driving it.
IF you paid insurance in full for the year you would get most of it back check policy should show what % in the event of cancellation. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 January 2009 : 08:49:09
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Hi
think you are making the right decision especially with the estimated repair costs.
Just put the details on the SOA ( including the potential loss) and let the OR sort the problem out.
Also make note on the SOA that you have tried to hand the car back - the finance co are not obligated to accept the car yet but will eventually do so after br
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 17 January 2009 : 11:25:34
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Well GECapital have sent me a letter, regarding my request to voluntary terminate, the want me to sign a form to terminate and send the log book back, they also said that I have to deliver it to a location and I am liable for any costs of repairs (I assume any outstanding costs are part of the bankruptcy)
Is that normal procedure
im unsure about returning the log book as they havent signed it
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 January 2009 : 11:32:58
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Stu
Keep it and let the OR deal with it 
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
24 Weeks down
28 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 17 January 2009 : 11:34:42
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Thanks, Jo
Do i return these forms, or do i just ignore them
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 January 2009 : 11:36:42
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Stu
You dont have long till your date, i would just ignore them and as i said let the OR deal with the car.
Try not to worry about it though, soon it will be out your hands for the better and i would just sit back and let the OR do there job.
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
24 Weeks down
28 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 17 January 2009 : 11:38:08
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Thanks,
Should i make the vehicle as SORN now and cancel the insurance now as its in the 14 day cooling period
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 January 2009 : 11:41:20
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I do think that may be a good idea, it will save ou money and i dont think that you will have to continue to pay for it as you are going to give the car back.
You can declare sorn on the net
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
24 Weeks down
28 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 17 January 2009 : 11:41:43
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thanks Jo
How
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 January 2009 : 11:43:53
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Your welcome
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
24 Weeks down
Yippeee!
28 to go
Im getting there!
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 17 January 2009 : 11:44:34
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does it cosst to make it sorn
Stu J Byron |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 January 2009 : 11:45:09
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No, its free
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
24 Weeks down
Yippeee!
28 to go
Im getting there!
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 17 January 2009 : 11:47:31
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Will let me mum know and then go ahead, can i claim road tax back online
Stu J Byron |
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Topic |
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im surrending my car on HP what do i do about ins
