HPI check

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Spen

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Post by Spen » Tue Jul 28, 2009 5:18 pm
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New on the forum hello.

My wife has gone into an iva which she has been in for two years. we have just had a new baby so wee need a bigger car I have asked her IP and there is no problem with changing the car. There will be no change to what she pays I will be swapping the car for one of the same value just bigger. My question is will there be any outstanding finance shown on our car (HPI check) as I dont want to go and swap the car only for them to tell me it cant be done becouse of this. The car was taken into consideration with the IVA. I have asked many people about this and looked on the internet for hours but cant find the answer. Thanks again for looking.
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Adam16

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Post by Adam16 » Tue Jul 28, 2009 11:04 pm
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does the car have secured finance outstanding on it? If so then yes it will not be HPI clear.
50 months down 22 to go!
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MelanieGiles

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Post by MelanieGiles » Tue Jul 28, 2009 11:08 pm
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Is her current car financed or not? If not, why is it showing up on a HPI check?
Regards, Melanie Giles, Insolvency Practitioner
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Spen

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Post by Spen » Wed Jul 29, 2009 8:20 am
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The car was financed but it was included with the IVA and it wasnt a secured loan, I am going to do my own HPI check on it so I know for sure cheers for the replys.
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MelanieGiles

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Post by MelanieGiles » Wed Jul 29, 2009 9:20 am
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Sounds as if it was purchased using an unsecured loan - in which case there should be no encumbrance showing up on the HPI check.
Regards, Melanie Giles, Insolvency Practitioner
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bic

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Post by bic » Wed Jul 29, 2009 11:37 am
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hi

just thought i would give you a word of warning we bought our car and the finance was with Creation Finance. it was not secured on the car and was a personal loan from them. however when we did try to sell it, it came up as finance outstanding we did a hpi check with the aa to check and it had a finance outstanding marker. we were advised to contact the company and ask them to remove it , we were told they soemtimes do this in ordr to keep track of car. marker was removed within a couple of days

cath
56 payments down 4 to go
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Spen

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Post by Spen » Thu Jul 30, 2009 8:15 am
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Thanks for all the replys I did a hpi check on the car yeaterday and it came back clear thanks for all the help cost £20 but worth it.
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Matt3786

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Post by Matt3786 » Sat Oct 31, 2009 9:55 am
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Hi Cath,

I also have a loan through Creation Finance and on my documents it states that its a Standard Fixed Sum Loan although it does show the details of the car that was purchased.

Is this the same type of agreement you had with Creation as my car is also showing up on a HPI check with finance outstanding.

Many Thanks
Matt
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