View single post by relisys
 Posted: Thu Oct 1st, 2009 03:09 pm
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Joined: Tue Aug 18th, 2009
Location: United Kingdom
Posts: 43
Not so long ago a customer of mine who ran a transport firm went bust owing me near £1000.   I had the van in the yard when the finance company came knocking wanting the van.  There is a peice of law (name escapes me) which requires the finance company to discharge any debt on the item before they can remove / dispose of it.  With some regret they paid my bill then added it to the customers finance debt.
I got my money, they got there van and that was the end of it.
Worth bearing in mind as number of people going bust or defaulting seems to have rocketed.