Repossession Of Hire Purchase Goods

How to deal with hire purchase depends on how much you’ve paid and where the goods are kept. You creditor can repossess the goods without a court order if; You’ve paid less than a third of the amount owed under the HP agreement, and the goods are not kept in your home or on private land. If you’ve paid more than a third of the agreement, or if the goods are stored on private land or inside your home, your creditor will need a court order before they can repossess them. Also you’re struggling to pay back HP arrears and you want to keep the goods, contact our free debt helpline. We can help you work out what you can afford and discuss your options to see if you can keep the HP goods.

Defaulted On Hire Purchase?

About Hire Purchase
This information explains what hire purchase (HP) and conditional sale agreements are. It tells you about your rights if you want to end the agreement, or if has already ended what to do next.
Hire Purchase Agreement
If you can’t afford to pay your HP and you don’t want to keep the goods, you can end the agreement yourself at any time as long as the creditor hasn’t issued a default notice.
HP Repossession
Our expert advisers can give you specialized advice on the repossession of hire purchase goods. We may also be able to help you come to an arrangement with your lender.
HP Legal Action
Initially your lender must consider any reasonable suggestions you make to pay off your hire purchase arrears. We can help before the case goes to court, or after.

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Debt Management Plans are available across the UK. So regardless of where you live in the UK, if you’re struggling to keep up with payments to your debts. Also a DMP could help you to get your financial situation back on track.

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Debt Consolidation Advice

Consolidating debt usually involves taking out new credit to pay off existing credit. Most people do this to reduce the interest rate on their debt, and to bring down their monthly payments. Also people consolidate to reduce the number of companies they owe money to each month.

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Individual Voluntary Arrangement

An Individual Voluntary Arrangement (IVA) is an agreement with your creditors to pay all or part of your debts. You can agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors as well as clear any remaining debt at the end of IVA.

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Debt Relief Order Advice

A debt relief order can be a low cost alternative to bankruptcy, but is only available to certain people as a criteria. If you owe than £20,000 and live in England, Wales or Northern Ireland then there is a chance you qualify. You don’t pay anything towards your debts for 12 months and the debt is written off after this too.

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Protected Trust Deed

A trust deed is a legally binding arrangement in Scotland where you make reduced payments over 4 years. Also at the end of this your unsecured debts are usually written off, and your debt show as paid.

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Hire Purchase Debt Recovery Help

High Courts

Although lenders must start court action in the County Court, if the debt is not a consumer credit agreement then the lender can try to enforce the judgment in the High Court. If this happens, contact us for advice. The forms used in the High Court are more complicated. You may want help with completing these, especially if you want to pay the debt back in installments.

Hire Purchase Arrears

If you miss payments to a HP agreement, your creditor will contact you. They may let you repay the arrears over time, or extend the agreement. If you don’t pay back the arrears, your creditor will usually issue a default notice after around three months. After they’ve issued the default notice they can take action to repossess the goods.

Find Out If We Can Help Wipe Off Any Of The Balance

 There’re schemes that might help to get a percentage of the debt written if you qualify for government legislation. This scheme usually helps people who have got over £5,000 worth of unsecured debt. Find out if you qualify

Repayment Of Hire Purchase Debt

Although lenders must start court action in the County Court, if the debt is not a consumer credit agreement then the lender can try to enforce the judgment in the High Court. If this happens, contact us for advice. The forms used in the High Court are more complicated. You may want help with completing these, especially if you want to pay the debt back in installments.

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