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izzy
| 12-11-2009 09:39 PM |
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Joined: 12 Nov 2009 Posts: 4 | Is there anyone that is going/or been through bankruptcy with a motorbility car on finance through the motorbility scheme?Did you manage to keep your car and if so,how? |
| paladin | 12-11-2009 10:20 PM |
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Joined: 06 Jun 2007 Posts: 240 My Profile | hi izzy With motability you don't own the car. At the end of the agreement you may have the option of buying the car, Hire Purchase. So in bankruptcy you'll be able to keep the car. P |
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izzy
| 13-11-2009 02:02 PM |
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Joined: 12 Nov 2009 Posts: 4 | We have not had the car through the lease scheme.The type of car that suited our needs required a deposit of 3K.It was more affordable to buy with a lesser deposit,through the finance option. The HR DLA stills pays for the car,the only difference is we have to maintain it and insure it. I have been on the net and to what I can ascertain,a reciever may exempt the car if you can prove that there is no other suitable form of transport available or it could prove to be too expensive.The criteria under which such an exemption would be seems quite tough so I thought I would post to see how others have managed to get this exemption |
| DW George | 13-11-2009 02:50 PM |
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Joined: 01 May 2007 Posts: 494 My Profile | Hi Izzy, You have bought your car under a HP agreement, which means that you don't own the car, therefore outside of the OR's interest. See here for more information. George |
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izzy
| 13-11-2009 09:21 PM |
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Joined: 12 Nov 2009 Posts: 4 | The OR can decide to include the car,sell it and the difference added to the debt.This would then leave us without a car as we would not be allowed back on the scheme for 1yr and 1 day.The OR could alternatively,allow us to buy the car from him/her for a nominal sum and the rest could be paid as normal to motorbilty by the HR DLA or allow us a sum of between 2k/3k to buy another. The car would be exempt from concideration by the OR if it can be shown that the car is a necessity rather than a convienience ie,that there is no other form of transport suitable or the cost of alternative would be too expensive. My post was to try an ascertain as to what constitues that "necessity" and what evidence would I need as proof? |
| paladin | 14-11-2009 12:09 PM |
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Joined: 06 Jun 2007 Posts: 240 My Profile | izzy Can you dig out the finance agreement for your car? At the top, it should say what type of agreement it is. I would be very surprised if it wasn't a Hire Purchase agreement. In a HP agreement, regardless of the deposit you out down, you don't own the car until the final payment. P |
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izzy
| 14-11-2009 12:51 PM |
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Joined: 12 Nov 2009 Posts: 4 | I have found the agreement and it does state at the top;"Hire purchase terms and conditions(1/4)". But in the Termination by us section,the sub sections 6.1.3(4) states: " A petiton for bankrupcy order against you is presented to the court or a bankrupcy order is made against you or We concider you insolvent or you enter or atempt to enter into any form of arrangement or composition with your creditors or you suffer any judgement to be made against you". motorbility have said that they could terminate,in which the debt outstanding would be add to the bankupcy order.We would not be allowed back on the lease scheme for 1yr and 1 day. |
| paladin | 16-11-2009 12:23 PM |
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Joined: 06 Jun 2007 Posts: 240 My Profile | Izzy, I think you should speak to Motability. I have just phoned them and they say that they would not take the car back. Motability 0845 456 4566 Let us know how you get on as I know many others, unfortunately, may be interested in the result of your call. Good Luck P |
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tina64
| 12-03-2010 05:20 PM |
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Joined: 12 Mar 2010 Posts: 1 | i have a mobility car on hire purchace and the car becomes mine at the end of the team and i am thinkinging about going bankrupt would love to no how you get on |
