What would happen if...

[leestafford]

I'd bought a caravan for £10,000 - after a deposit of £1,750, initial payment of £160 and 2 payments of £152.50 to Black Horse Finance, I decided to just stop paying for it?

I know it would get repossessed and stuff but what would happen to me?

I don't own any property, I stay at a friend's house, unregistered - bank details etc registered at parent's bought house. I do work full time.

It's through Black Horse finance. Reason I've decided not to pay is because I was given false information by the sales team, regarding a (what proved to be a phantom) telephone plug being on the pitch, which I need for my work. I've sought advice on this misleading information on another thread, I just thought I'd ask what would be the worst case scenario if I lose my argument after refusing to pay for standing up against lying salesmen.

[Sapphire]

Re: What would happen if...

I think you need to be very careful, you say that you don't live at your parents house but your accounts are registered there, I'm not sure for definate but I think that they could make life nasty for your parents, it might not just be a case of them saying sorry he don't live here, basically it could ruin any credit ratings they might have, which could cause trouble for them.
Someone else will pop along to confirm soon but I am pretty sure that I am right.

[Inca]

Re: What would happen if...

I agree with Sapphy.you could potentially open a huge can of worms for your parents, you got the finance using your parents address?
You say 'unregistered'..in what capacity?

[leestafford]

Re: What would happen if...

I agree with Sapphy.you could potentially open a huge can of worms for your parents, you got the finance using your parents address?
You say 'unregistered'..in what capacity?

As in I've not signed anything to say I live here

[labman]

Re: What would happen if...

Credit checks are supposed to be against a person NOT an address. As long as the parents were not named as financial associates, there should not be problems from that point of view. If the parents' house is the OP's registered address there could be major hassle heading their way from bailiffs etc...

Can another person at my address affect my credit rating?

If you have or have had joint accounts, this information and the other person's data is included in some credit searches. Including information from other people can negatively affect your score if there is derogatory information on their credit report such as defaulted accounts. If you believe that the people listed as associates on your credit report have no active financial link with you, you may complete a Notice of Disassociation.

(taken from https://www.econsumer.equifax.co.uk/...b_cpo_faq#faq8)