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Hi,
I have a vehicle that I purchased on HP back in 2006. I paid more than 2/3 off the price then defaulted. The finance company never attempted to repossess the vehicle and has since sold the debt.
The new debt company have never contacted me.
The vehicle is marked on HPI as having outstanding finance – but is there anything in the limitations act that will allow the removal of this mark so the vehicle can be sold?
Is it not the same as the statute of limitation for any consumer debt? i.e. 6 years?
I understand the vehicle is not legally mine to sell - but you could say the same thing about any consumer goods, like a TV for instance, and I'm sure plenty of those are sold before and after the 6 years are up.
Or as the finance company have sold the debt, can the car now be sold legally?
Thanks
I have a vehicle that I purchased on HP back in 2006. I paid more than 2/3 off the price then defaulted. The finance company never attempted to repossess the vehicle and has since sold the debt.
The new debt company have never contacted me.
The vehicle is marked on HPI as having outstanding finance – but is there anything in the limitations act that will allow the removal of this mark so the vehicle can be sold?
Is it not the same as the statute of limitation for any consumer debt? i.e. 6 years?
I understand the vehicle is not legally mine to sell - but you could say the same thing about any consumer goods, like a TV for instance, and I'm sure plenty of those are sold before and after the 6 years are up.
Or as the finance company have sold the debt, can the car now be sold legally?
Thanks
