Tracker
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I had a similar problem. If the bike is in your name, and you continue to make payments on it, they cannot take it. They can say whatever they want. It is not in his name and therefore not his property. |
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ChocLover
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If it's in your name then they can't take it |
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Huge
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Yes they can take it, if he took out an HP agreement. With HP the bike does not belong to you until paid for. Thats why its called Hire Purchase its only hired until paid for |
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ξήĢŁĭŞĦ ŗǾşξ ©® ღஐღ
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if the reciept is in your name , why are there any more payment installments .. a reciept suggests it is already bought...... ?
and if your dad has bought a bike on finance for you, even if the registration docs are in your name, and he has the debt for it, you will lose the bike |
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honeybear
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I think if it's in your name then they can't take it, but if it's not fully paid for then you might have to take over payments if your dad can't pay. |
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Just do it
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If you legally own the bike, then his bankruptcy won't jeopardise your ownership of it |
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Rigo
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Is the bike paid off? Then you have no worries, you are a completely seperate legal entity and they cant touch you (at least as long as your dad is alive).
Tell them to stop harassing you or you will file a claim with the FTC under the fair debt collection practices act. They have no reason or right to harass you. |
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just trying to make a difference
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the official receiver who dealt with the bankruptcy may (or may not) have included the bike as an asset belonging to your dad - which they could force him to sell to pay for some of his debts. however if it was bought as a gift for you and is legally yours then they (the official receiver) should not be able to request it is sold.
I cannot see any reason why you should have to make any payments for it, or why the bike shop could take it back.
you (or your dad) really need to speak to the official receiver who dealt with his bankruptcy to see if any debt for the bike was included in his bankruptcy and if the bike was listed as one of his assets. once you know this you can take it from there. |
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Ian M
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Assuming this is UK jurisdiction then it does depend on the finance for the bike. I.e. if your father did not have title to the machine (it was on HP or conditional sale) then he could not pass good title to you.
Is the machine essential for your work? If so you might be able to avoid it being taken.
Call Consumer Direct on 08454 04 05 06 for basic advice |
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the_mystryss
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If he is a co-signer on the loan then they may be able to - depending on the state you live in. However, if the loan is completely in your name then as long as you keep up the payments they can't take anything from you since you are not the person going bankrupt and his name is not on the loan. In that case, it's a bluff and they are trying to get money from someone. Unethical, but that's the way debt collectors work. |
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pedro_peewee
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The best thing to do is to seek advice from your local CAB (Citizens Advice Bureau) or a solicitor. Good luck. |
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luludoodie
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Sounds as if there is debt outstanding on it.
The debt is in your Dad's name so they can re-possess it to sell to clear "his" debt.
If the sale of it does not fully repay the debt they can't come after you for the difference. |
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countryguyhfc
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If your dad took out a loan to pay for the bike then they have a lein against it and can reposess the bike if the loan is not paid off. So yes they can take the bike if you or your dad do not make arrangements to pay off the loan. |
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Pam H
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If the motorcycle wasn't paid for and used as collateral against the loan then they have every right to either take it from you or expect payment. If it was paid for and not used as collateral they have no claim on it. |
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starlight
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no they cant take it |
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The Cat
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They often do anything they can to bully money. If you are the legal owner and not your dad, then they can't do jack. They are just hoping to get more money. I once had the IRS try to get money from me for a mistake on my Dad's taxes where he claimed me, they tried to get him to pay the exact same bill. So they were trying to get it twice. In the end they got nothing. But I seriously doubt they would have given anything back if we both paid.
They can't touch you. The law is on your side so they can drop dead, and you can tell them that. |
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Rosie25
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If the bike is in your name, they can't take it from you, but you will be responsible for paying for it if you decide to keep it. It's interesting that your dad was in financial trouble when he bought the bike. They say, it's okay to spend a few thousand on something, as long as it isn't your last few thousand! |
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*****
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NO. |
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goshme142
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pay or give it up. |
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