how long before hp company can take cars back?

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pat.w

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Post by pat.w » Wed Jun 18, 2008 10:15 pm
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i have 2 houses that i want to rent out and 3 cars, also got property in spain, would they be taken if i went for iva.

i don't have a job work for cash in hand., how long before car hp company can take the cars back, i understand it is 3 missed payments and they can't if i paid over 1/3
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size5

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Post by size5 » Wed Jun 18, 2008 10:25 pm
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Hello pat.w and a warm welcome to the forum.

Without a great deal more information, unfortunately I couldn't even begin to answer your questions, can you enlighten us a little?

Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself

Follow my tweets at http://twitter.com/debtmastersize5
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connie

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Post by connie » Wed Jun 18, 2008 10:33 pm
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hi

they told us we had to miss 3 before they'd take the car, but i think it was more like 5/6 before they actually came and got it.
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plasticdaft

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Post by plasticdaft » Wed Jun 18, 2008 10:36 pm
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If you have 2 houses that you rent out and property in spain I would expect them to be seen as assets and used to pay off creditors.

Not sure about the cars coz its different here in scotland.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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jpj

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Post by jpj » Wed Jun 18, 2008 10:49 pm
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I missed 3 payments then it took another 3 before they collected the car!...I had 2 cars for 3 months as i bought another as soon as i stopped paying the HP. wish i had carried on driving the car till they collected it now!
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MelanieGiles

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Post by MelanieGiles » Wed Jun 18, 2008 10:57 pm
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Look within the terms of the finance agreements to see what the termination clauses say.
Regards, Melanie Giles, Insolvency Practitioner
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