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![Enjaybid](themes/aaAle/images/interface/profile-pic-placeholder.47cf740a.png)
Hey there. Have purchased a vehicle. Found out it has a security interest on it . The business I purchased from has filed for bankruptcy. It’s in my name . Any advice greatly appreciated . Thank you
![Anon](/assets/aa/aa-avatar.png?m=1466990309)
Hi there,
Did you buy the vehicle off a vehicle dealer? Did the car have a Consumer Information Notice displayed?, if so did it have the finance owing box ticked? Did you know about the finance before purchase? Information can be found here: https://www.consumerprotection.govt.nz/general-help/ways-to-buy-and-pay/private-sales-and-second-hand-goods/#search:
![Enjaybid](themes/aaAle/images/interface/profile-pic-placeholder.47cf740a.png)
This was a private sale from a former employer. I have been warned by a work mate that if money was still owing the vehicle would be repossessed. I checked on car jam to find it does have money owing.
![Anon](/assets/aa/aa-avatar.png?m=1466990309)
Ah yea, unfortunately there is danger of repossession if the finance that the vehicle is security for falls into arrears. I would recommending trying to find out how much the security is from the finance company.
![Enjaybid](themes/aaAle/images/interface/profile-pic-placeholder.47cf740a.png)
OK thank you