hire purchase loan and ill health

[debsydo]

hi...we have purchased a caravan with a bank loan from a caravan park
the bank has paid the caravan park for the caravan
we now owe the bank
I have just been diagnosed with a chronic illness
I don't think the park will buy it off us to pay the bank
I can not work now due to my illness and my husband is struggling to pay the loan back to the bank

can we get out of the contract?

[Debt Camel]

Re: hire purchase loan and ill health

Hi debsydo,

is this loan Hire Purchase? If YES, when did it start, how long was it for and how many payments have been made?

Do you live in this caravan or is it just for holidays?

[debsydo]

Re: hire purchase loan and ill health

hi,,,yes it is.
it was taken out last nov..
so made 10 payments up to now..
we basically live in it but because of my illness its too small for my needs..
we need to get a house but cant afford both..ty for reply

- - - Updated - - -

****it was over 12 years

[Debt Camel]

Re: hire purchase loan and ill health

OK, I am sorry to hear that this is your home and it is on HP.

I think you need to go to your local Citizens Advice because they will be able to advise you both on your benefit situation - there may be additional benefits that you can claim - and on your options for housing. Depending on your health situation, it is possible the local council might be able to assist you,