At Ivor Fitzpatrick and Company Solicitors we act on behalf of numerous financial institutions that specialise in Asset Finance.  Our clients include companies that provide finance to consumer and commercial purchasers of motor vehicles and those that provide finance for the purchase of Plant and Farm Machinery.

Consumer Hire Purchase

Where an asset is obtained by a consumer through Hire Purchase (including PCP) and the consumer pays over one third of the Hire Purchase Price, a lender cannot repossess a vehicle without obtaining a court order.  We have extensive experience in acting for clients in these circumstances and obtaining the relevant orders to allow for the repossession of vehicles, where required.

Commercial Recoveries

While there is no restriction on a lender recovering an asset held under Lease or Hire Purchase agreement, there will be circumstances where this is not possible for various reasons such as inability to locate the asset or the asset being located or fixed to an inaccessible area.  In these circumstances Legal Proceedings can be very beneficial and we can tailor an application to suit specific cases and seek orders to assist in the circumstances.

Judgment

Even after an asset is repossessed and sold, there could be a residual debt due to the Lender.  We ensure that any proceedings include a relief seeking a judgment for any such remaining balance from a borrower.  See our pages on Unsecured Debt Recovery and Enforcement Options for further information.