credit co want my car!

[steve165]

Hi

I today received a letter from Britsh Credit Trust,who tell me that they have an interest in my car .I bought this car in good faith over a year a go.The previous owner told me it was his to sell.My question really is ,is there a time limit in which the credit company can chase me as i have had the car for so long.I did not hpi it as the car was not very expensive .

 

Has anyone been in a similar position?

 

Thanks for looking

Steve

[rosiecotton]

Don't have time to write too much now, but will elaborate when I can stop work for lunch.

 

Are you a private individual or is the car used for your business?

 

If you are the first innocent purchaser the HP company will not be able to repossess the car from you or chase you for the debt. As I said, I will find and link you some further information later, when I can get away from a million other cases!

[rosiecotton]

Try this link, saves me explaining any more!:

 

FAQ - Hire Purchase: Last week I bought a car from a friend and l have just found out that it’s still the subject of a hire purchase agreement – I didn’t know at the time of ‘purchase.’ The finance company is chasing me as they say that it

[steve165]

Thanks Rosie

I'll post how i get on

Cheers

Steve