Moderators: TalbotWoods, JaneClack
Maybe.... It will depend on what type of loan it is, some are unsecured, some are secured on the car, some are actually HP.
If it is a straightforward loan, that is unsecured then the OR can snaffle the car, BUT if it is essential for work they allow you to get a cheap replacement, see the link at the end of this post
If it is a Secured Loan, or HP, then no the OR cant take it, and if they agree you need it for work the repayments are permitted in your I&E. BUT depending on who the loan/HP is with they may take the car back (not so often nowadays if you can continue paying) This is because you do not own the car!
viewtopic.php?f=24&t=14954
Tim
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Because I was paying nothing back, and because I was unemployed(so I couldn't use the excuse of "using the car for work"), I felt sure the OR would take my car off me(it was worth about £1500 - £2000).
I told the OR I needed it to LOOK for work(in a desperate attempt to keep it), and the OR agreed that I could indeed keep the car if I promised him that I would DEFINITELY use it to look for work.
Needless to say, I made that promise and duly kept the car.
I think the OR has a lot of discression in this department.
Want to talk to someone confidentially, without obligation and free of charge?
Abbreviations used in DQF
CRF Contacts
My advice is guidance only, if you want the law then consult a lawyer!
(c) All Spelling mistakes are my own design, infringement of them may result me sulking!
I have a car on HP and was allowed to keep it as I hadn't defaulted on it. It's due to finish next month and so I'll be a little better off.
Jane
Thanks for all the replies. Still weighing up options - I reckon I'll be 93 before I make up my mind!
What is a real coincidence (ahem), is that just one month after I was discharged from Bankruptcy, I did, indeed, find employment, but alas it was too late for an IPO/IPA, so I didn't bother telling the OR.
I must admit, I was gutted that I found paid employment just 4 weeks too late to pay Capquest their money back.
Still, never mind eh.

They kept adding interest for 5 years, and I was always telling them that the total they kept telling me I owed them was just a "Fantasy Figure," - I told them time and time again they would NEVER get the interest and charges they kept adding on.
In the end I went BR, so they got bugger all.
I still find it difficult to sleep at night, thinking about the money I owed them, and how I'd let them down.
The only way I can sleep is to go down the pub and have a few bevvies, and then that helps me to relax and then I can nod off when I get home. (Well that's what I tell the missus anyway).
........................ especially after a very large gin (Bombay Sapphire - its export strength 47%) and Dubonnet
Want to talk to someone confidentially, without obligation and free of charge?
Want to talk to someone confidentially, without obligation and free of charge?