RCI finance and car

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davy
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by davy » Wed Jun 14, 2017 8:38 pm
Does rci finance take back hp car if you go bankrupt?
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Foggy
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by Foggy » Wed Jun 14, 2017 8:44 pm
They probably have a clause in the terms allowing them to do so -- whether they would activate (if it is, indeed, there) it I do not know. However, regardless, there is a possibility that the OR would take an interest in having the finance terminated to increase revenue to the bankrupt estate. But all would depend on a multitude of things, so I am only guessing.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 15, 2017 8:33 am
You could try and ring them anonymously and ask what their policy is with Bankruptcy, if you are able to keep up the payments but as Foggy states you will also have to convince the O.R/Trustee to keep the vehicle and keep making the payments.

If you decide to make yourself Bankrupt then you should do it on the assumption you will have to give the vehicle up.
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kallis3
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by kallis3 » Thu Jun 15, 2017 9:41 am
You should take advice from several companies before deciding which way to go. You might be eligible for an IVA or a DMP.
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