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Over 10 years ago I bought a motorbike on HP.

 

Shortly after buying the bike, my circumstances changed and I moved overseas to work.

 

I stored the bike in a garage and it stayed there. I did not make any payments while overseas.

 

I recently returned back to the UK and the bike is still where I left it.

 

Can the finance company repossess the motorbike or is it now time barred?

 

Are they even interested in a 10 year old debt?

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I would firstly do a hpi and check the status. It may be reported stolen.

 

Did that already. Just says it has outstanding finance.

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10yrs.

not a chance they'd be interested in it.

would of sold the debt on years ago

 

 

nothing anyone can do


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I will need to apply for the V5 to get the bike back on the road, do you think this will raise its profile with the company who know owns the debt ?

 

My guess is they have better things to do than spot a 10 year old bike being re-registered.

 

I appreciate that it will not be possible to sell the bike as the finance will not go away from the HPI record.

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Wouldn't matter if it did raise any profile. It's an. Nothing anyone can do


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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2 issues spring to mind :

Is there a crime being committed?

Do they have a civil claim against you?.

 

At the moment, with this being HP, and you not having paid off the HP, the bike is their property. They could report it as stolen, so why not give it back?. If you hand back it would be harder for them to claim you "intended to permanently deprive" them of it, and you can state that you just forgot about it with being out of the UK ....

I certainly wouldn't try to sell it (as that would clearly be appropriating their property), and using it might be risky too.

Sure, after 10 years it is unlikely they'll act on it as stolen, but for a 10 year old bike why take the risk .....

 

Have they a civil claim against you?. Not for the original HP agreement.

 

Why take the risk of using the bike?. Hand it back saying "oops, I forgot about the bike, so here is your property", and let them huff and puff about any outstanding monies.

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i would suggest the debt was sold on long ago.

the hp Co. will have no legal rights whatsoever.

and neither will the debt buyer as the property is not sold on

simply the debt?

 

 

never ever heard of a debt buyer repo'ing HP property.


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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