Bankruptcy

[Ms_J]

Hi,

 

I have just been declared bankrupt and yesterday had to have a telephone interview with the accountancy firm dealing with it. After answering questions about my income and outgoings I was informed that as I have a car on HP they will contact the finance company to uplift the car. I explained that if I do not have a car then I will not be able to work as it is essential for me to be able to drive between clients homes.

The man explained their reasons, mainly that this week my outgoings are more than earnings. I have a zero hour contract and as I have just started a new job it will take me a few weeks to hopefully get regular hours. In the meantime I am applying for lots of other jobs. I did explain this and he agreed to give me one month to get regular hours.

 

Is there any way round this or am I stuck? I checked with CAB about the car before going down this route as I knew it would be fatal to lose the car and they said it would be fine!

 

Thanks in advance.

[IdaInFife]

Most Hp companies have a clause int he contract that if you become BK you will need to hand the car back.

 

There is no way around this as the IP will always ensure that he is doing the best for your creditors.

 

IF Cab helped you apply for your BK, I would be making a complaint for giving wrong information as they have advised another OP the same when clearly this is completely wrong

 

ida x

[Moonlighter]

Ms J

 

In our firm, we are happy for the debtor to retain their car if doing so allows the debtor to pay a contribution to the trustee. We generally have no problem with the HP company if the payments continue to be met as they are better off than if they had to sell the car at auction and lodge a claim with the trustee for the shortfall.

 

I would think the AiB would allow you to keep it if your income increased, thereby leaving you with surplus income to make a monthly contribution to her.

 

Good luck!

 

G