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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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If the hp was transferred into another company and that company

Customer Question

If the hp was transferred into another company and that company defaults and liquidates is the original guarantor still liable for the debt on the vehicle?
Submitted: 4 years ago.
Category: Law
Expert:  Ash replied 4 years ago.

AlexWatts2013 : Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return. For now please let me know did the company ever release the guarantor?
JACUSTOMER-u1nrnikj- : The transfer documents were signed by both parties which we thought released all responsibility for the van. Would there have been a separate document to release the guarantor? The van was repossed apparently 2 months ago so 2 payments were defaulted on , then Peugeot to the van and sold the van at auction and we didn't know anything about it until this week saying we owed them a £1400
AlexWatts2013 : Did the loan company ever write and say you were released please?
JACUSTOMER-u1nrnikj- :

From the contract yes I have all the paperwork but not specificallyabout the guarantor but the hp contract I will check all the wording on the release papers thanks

AlexWatts2013 : Did the HP company ever write to you saying they released you?