Emma T
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(In the UK) It can only be repossessed if you buy the item on Hire Purchase. If it is an unsecured personal loan then it cannot be taken back, without a court order.
Please ask me a question (via e-mail or click on my profile)if you have anymore queries. |
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littledan77
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Yes it most certainly can. Keep up your payments! |
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Stan N
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It depends on whether or not it is a secured or not and what the definition of "some" payments is. Lenders will work with you unless you totally blow them off. |
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jojo78
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yes, if you dont make the repayments on it, look at the contract you must of have to sign one |
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madamspud169
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It can be taken back/repossessed right up until the last payment has been paid until that last payment it is not yours you are hiring it with the option to own it once the last payment has been made.
Some companies take back the item and still make you pay the whole amount even when you dont have it, you will have to read the small print on your hp agreement to see what they do and if theres anything you can do altho I suspect like in most cases you will have to pay in full for the item you no longer have |
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golferwhoworks
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not very often-- you must always read the fine print in the contract! |
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linkysplinx
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Depends what the contract/agreement states.
And how long the finance period is.
Usually they can take the goods back if payments stop. However this is final resort, they tend to prefer other means of getting you to pay. Getting the item back usually involves bailiffs and black listing of you for future finance. |
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psd1941
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Yes, if you have not been regular in payment of installments or having failed to fulfill other conditions of the lending financial institution. The article is mortgaged to the lending company. Till you clear the loan amount including interest, the lien of the lending company remains on the article purchased on loan. After you clear After clearance of all the dues, the article has to be got released from the mortgage of the company. Only after that formality you become the owner of the article. |
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scottFL007
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If it was a 'secured loan', yes. They can take it back if you miss even one payment. That's why they call it a secured loan. Read your loan contract. |
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spike
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yes
you might prove not to be a regular payer
the company can repossess |
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Sparky
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Absolutely. |
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im an er
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if u took out a extra insurance/ cover with it the answer is yes,if not no no n0 n0 n0 n0 no no n0 u cant |
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jay79
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it depends on the finance agreement |
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robsthings
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Yup, it's not your until you've paid for it. |
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