Questions you have before making a decision to go Bankrupt and the Bankruptcy process

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Byswanseajack
#7378 Hi. Having recently gone bankrupt on May 12th. I had my meeting with OR. He stated that he was not interested in my car as it was on HP, but that the HP company may well take it off me.

My car is 03 reg. But is a wreck. Someone smashed into it in the street and drove off. leaving a large dent and one wing mirror hanging off. People have also drilled a hole above one of the locks. i have never had the money to get any repairs done.

Anyway my question is. Could the HP company refuse to take it off me, and continue to chase me for any payments? could any court action be taken against me? or am i covered by the bankruptcy?

Any help or advise would be much appreciated.

Cheers.
ByDavidc
#7382
swanseajack wrote:Hi. Having recently gone bankrupt on May 12th. I had my meeting with OR. He stated that he was not interested in my car as it was on HP, but that the HP company may well take it off me.

My car is 03 reg. But is a wreck. Someone smashed into it in the street and drove off. leaving a large dent and one wing mirror hanging off. People have also drilled a hole above one of the locks. i have never had the money to get any repairs done.

Anyway my question is. Could the HP company refuse to take it off me, and continue to chase me for any payments? could any court action be taken against me? or am i covered by the bankruptcy?

Any help or advise would be much appreciated.

Cheers.


Just tell them you are bankrupt and can not afford to make anymore payments......They cannot pursue you for any shortfall. If they try refer them to your official reciever to deal with.
From what you have said get rid of it ASAP.
David
Byswanseajack
#7383 ok thanks. will get onto them tomorrow. my insurance is up soon and there is no point me insuring it if they are going to take it. thanks again
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Bysteveo
#7385 if you were bankrupt in May, the HP company may not yet have received the paperwork informing them of your bankruptcy.

the OR was not interested in the car as it does not belong to you, however the HP agreement you have would have been included with your BO. if fact as far as i understand it you would be breaking the law to continue making payments to the HP company, as they would also be breaking the law by recieving payments.

As far as i am aware the HP company would have no choice but to cancel the HP agreement and take the car back, and regardless of how much is still owning or the damage you would not owe them a penny.
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