enquiries on unsettled loans

[eFzek17]

hi bros. i was wondering whats the follow up by a bike shop if they already repossessed our bike and we cant complete the hire-purchase loan. then they decide to sell it away. are they going to sue us or something like that. i just wanna know the follow up of what will happen. thanks

[zyrofillica]

they will take every opportunity to squeeze more money from the carrot. they will squeeze until u cry. Prepare to receive a lawyer letter for legal action. confirm sue until no money.

[eFzek17]

ooo issit? dont worry, was just asking as i do see lots of repossess bikes in some shops

[Michael-]

ooo issit? dont worry, was just asking as i do see lots of repossess bikes in some shops

 

they will sell away your bike in low price , then deduce the $ u own they .they will sue u , and u still have to pay back the rest. in the end u lost a lot .

[IvikaRazI]

So in simple words....take what you can afford to pay. Do not be a hero. No money no hunny.