I got a motor bike on higher purchase a week back, can they take it off me?

i purchased a new motor bike on higher purchase, i gave them a couple of wrong details while submiting the application cause i was pissed.
nothing major just that i told them that i worked at my last company for 2.5years but i had only worked there for 6months. and that i had been with my bank from 2004 when i have been with them from may 2005.
they approved my loan and i now have had my new bike about a week ago but the dealer keeps asking me to fax old bank statments. i have told him that i have been with my bank from 2005.
i am worried cause i think they will take my bike off me.

can they repossess my motor bike?
thanks

"higher purchase...?" Don't you mean hire purchase?

Well, you've deceived and defrauded them, so I think they probably can...but if it were me, I'd be more concerned about being uneducated.

They wont want statements that far back. 3 to 6 mths worth should do. This is fraud though and you do run the risk of losing ya bike
Good luck

they will only want the last 3 months of statements, check with them how far back they need

off course they can, because your bike is only on HP, you don't own it. The bike is legally owned by the garage until the last payment.

However keep regular payments and they prob won't do much, as long as their are getting the money,

Not fraud - obtaining property by deception!

Send them a few none-consecutive statements and say that's all you can find. Maybe they will leave you alone.

Yes, you decieved them and obtained goods. Send them 3 statements. If pushed for more statements say your accountant has them as he had to re-file your tax return due to some deductions you forgot to take. If they press you again in a few months to give them more statements then give them 1 years' worth -- including the ones you already gave them. I have never heard of any company ever asking for more than 1 years' worth of statements and that was for a mortgage for a self-employed person. I'll bet three months to 6 months of statements will be all they need or want!!!
Make your payments every month and make them 5 to 7 days EARLY !!!!!!! They probably wont bother you any more, but dont EVER miss any payments and DONT EVER DO THIS AGAIN !!!!
AND DONT BEAT YOURSELF UP TOO MUCH, MANY RICH MEN GOT RICH THROUGH A LITTLE OMMISSION OR ADDITON here and there!!! But they didnt have COMPUTERS back then to check up them with -- in this day and age we're kinda screwed!!!
Don't worry, just send them 3 months worth, say others are with accountant (if they push you-- otherwise keep mouth shut -- never volunteer information!), and MAKE ALL PAYMENT & make payments EARLY !!!!
Your VERY BEST OPTION is to SET UP YOUR PAYMENTS to be MADE AUTOMATICALLY from your CHECKING ACCOUNT , do it through the DEALER or THROUGH YOUR BANK, whichever way works best for you or them!!! then to make sure your account never BOUNCES A CHECK or PAYMENT have your bank add an OVERDRAFT PROTECTION ACCOUNT to your checking account !!! This way your payments will ALWAYS BE ON TIME & they will NEVER BOUNCE !!! I have it on mine and since I keep my paychecks deposited regularly, my O.D.P.A. doesn't get used often,but when I'm short on funds my PAYMENTS are NEVER LATE !!! My CREDIT STAYS "A+" and I NEVER have to WORRY !!! It costs me $9 whenever my ODPA is used but that is far cheaper than a LATE FEE and it PROTECTS MY CREDIT -- which is invaluable !!! I have almost all my bills set up to draft automatically from my checking, this way NOTHING is EVER LATE !!! And I dont spend hours sitting paying bills or worrying if I'm gonna have the cash available to pay those bills! Then as soon as I get my funds I go to bank and payoff the ODPA, sometimes I just deposit the funds & call the bank and transfer the funds from checking to payoff the O.DP.A. & I dont eve have to leave the house!!!
Good Luck! Aunt Barbie

Yeah; you comitted fraud and inflated your time on the job which makes a huge difference

Yes they can and most likely will. What you did was fraud. You lied on your application and now they are demanding proof of the things you lied about.

Don't think they will bother to now but if they want to they can yes :)

ooh you committed fraud honey, better to go in and fess up before you lose bike and get bad credit and get a record

Go back to dealer and explain what happened,they should
be OK as long as your bank balance is sound.
They will not want to lose a sale so get it sorted asap.

As long as you keep the payments up you should be ok!!! be straight with then and they'll be straight with you, these things do happen, dont apply again when pissed, send him in the statments that you do have and hope that there ok...
best of luck

Yes they can but worse than that you have committed a crime and obtained hire purchase fraudulently!

When you give false information for financial gain(the motorbike has financial value) It is a crime punishable by a prison sentence in certain circumstance!

I advice you to both phone and write and advise the hire purchase company immediately and return the bike to the dealer!

The company may be prepared to allow you to re apply for finance although it is unlikely. Probably why you provided the false information in the first place!

You must allow them access to their property! (it remains their property until you pay them all the money anyway!) If you sell it or try to, you will be compounding your offenses and the law will bit you! Hope you make the right decision!

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