sorry, I mis- read your previous answer re paying the invoice, NO, I can not pay the invoice.
My specific query is can they legally keep the vehicle, what can I do to get it back, I am not in a position to pay the outstanding invoice, do I have any legal rights to ask for the vehicle back, can they strip the vehicle down and sell off parts to cover their outstanding account? Basically where do I stand on a legal point of view on this matter?
Thank You, I was lead to believe that the vehicle, being on a HP agreement, would not be able to be sold as the "title" would be in the name of the finance company, therefor, making a sale would not "pass title" to the new owner, is this correct? Also if the repair firm sell the vehicle, what happens to the HP agreement in terms of my outstanding amount to the finance company?
The outstanding account is for work on a previous vehicle and also for this vehicle, the amount owed currently stands at circa £6000, I do not believe they are aware the vehicle is under a HP agreement.
Hello again, the repair company have informed me they have stripped the vehicle and sold it for spares to cover their repair cost, the finance company are now in touch wanting to know why I have stopped paying the finance on the vehicle, what can I do? And am I still responsible for the outstanding amount owed on the vehicle?
I have a mortgage in joint names with my wife, the property is worth around £100k, we have a mortgage of approx £53k, if I go bankrupt will I be forced to sell the house to release the money, I understand that only 50% of the profit is mine the rest belongs to my wife, is this correct? Basically will I be forced to sell the house, we have 2 children ages 18 and 9 living at home.
My wife is unable to re mortgage due to her lack of earnings, as we looked into this.