Finance company/bikeshop go brankrupt

[2wheels]

What will happen to our finance agreement if the bikeshop that finances our bikes goes bankrupt?

What if we cant locate the bikeshop anymore after the bankruptcy and the bikeshop did not even bother to inform us of that fact?

 

can anybody help? its urgent. I need to scrap my vehicle still under financing by a certain shop in ubi.

[PUNK]

issit motorxxxxx ??? maybe u can call lta to enquire lol. cheers

[2wheels]

spot on

 

still in business last time give me problems. now bankrupt also give me problems ...haiz.

i still waiting for lta to call me bck. but if lan lan must clear finance, i dunno how to clear sia

[pyro13]

motorworld?

[2wheels]

nope....guess harder

 

anyone in this situation?

[PUNK]

if nt wrong sum1 oso had dis situation last time... too bad for u den..

[PUNK]

Originally posted by pyro13@January 13, 2007 05:48 pm

motorworld?

bro since wen do motorworld do financing & even bankrupt the shop still standing der n 2 outlet liao cheerss

[WildCard]

Originally posted by 2wheels@January 12, 2007 04:35 pm

What will happen to our finance agreement if the bikeshop that finances our bikes goes bankrupt?

What if we cant locate the bikeshop anymore after the bankruptcy and the bikeshop did not even bother to inform us of that fact?

 

can anybody help? its urgent. I need to scrap my vehicle still under financing by a certain shop in ubi.

Bro,

The guy is staying along Telok Kurau there. I may still have the address.

But I remember the exact location if I'm around there.

If you want, I can bring you to his house and bang on his door,

"We O you $$$, we pay you $$$"

 

Last I did for my bike before I managed to get it sold of was make payments at his house.

Unless he has fled the country....

 

From my understanding, if he has delcared total bankrupt, another financial institution will take over, be another bikeshop or a bank.

The question is whether whomever takes over allows installment payments to continue or wants immediate settlement...

[mitosis]

So complicated man, hope my bike shop doesnt go down the same road.

[WingZer0]

Originally posted by 2wheels@January 17, 2007 01:28 pm

nope....guess harder

 

anyone in this situation?

ha! Dirty Hairy!

 

 

Normally if the shop or finance goes bankrupt the owner of the bike have to settle full.. but depends also... hopefully some other shop can refinance...

[swoosh]

Insolvency public trustee office (IPTO) will take over the financial affairs of a bankrupt. However, i understand most bike shop collabrate with finance company to give out loan, So actually you may be only owing monies to the finance company and the not bike shop owner. Guess you have to find out the name of the finance company in yr hp agreement