• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Business Agreement for HP car but liquidated

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Business Agreement for HP car but liquidated

    Here's a good one, i need a little advice on before i make my decision of how best to go about things.
    I have a HP agreement, which is in the company name, and not guaranteed by myself or any other persons for a company vehicle.

    Due to an error in the paperwork from day one, the payments have always come out my personal bank account, and i have had to claim the money back from the company account.

    the company who provided the vehicle and agreement have gone bankrupt, and both directors have been persued by banks and lenders for supplying misleading, wrong and falsified finance agreements. they have been sentenced for this.

    Now the situation- my company i have been forced to liquidate. I have had to continue making payments for a vehicle, which i deam to be unnecessary as the vehicle is in the company name, and there is no guarantee signed by me.
    I have been told by several other company owners, that there is a clause where if you have paid over 2/3 of the finance agreement off, you can keep the vehicle without makeing any further payments, as the finance company will opt not to take the vehicle back.

    Is this correct and if so, how can i do it?

    If not, i guess i have the option to hand the vehicle back to the finance company, but will this go against me personally?

    the agreement started in feb 2007, and has been paid in full every month as requested without fail up until now. we also placed a £8000 deposit on the vehicle, so have paid back 35 months of payments, plus the deposit, on a 48 month term agreement.

    any help much appreciated, i did read the forums, but the difference with this is the vehicle is in the company name, not mine.

View our Terms and Conditions

LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
Working...
X