I am going to apply for bankruptcy

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di.

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Post by di. » Tue Apr 24, 2007 11:42 am
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Bankrupcy: I am going to apply for this. At present I am making monthly repayments for my washing machine. Do I continue to do this or not? Would they be able to come and take it away if I do not pay? Does it remain there property until it is paid in full. Thanks.
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Adam Davies

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Post by Adam Davies » Tue Apr 24, 2007 11:53 am
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Hi
You will need to look at the finance agreement and see if its on hire purchase or a personal loan.I suspect that its a personal loan and therefore cannot be just taken away.If it is indeed hire purchase then they will be able to collect it but again if you have paid more han 50% of the toatal price ,including interest, they will need a county court order to do this,and I have my doubts that it will worth their time.
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Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

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Andam Davies
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