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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

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:

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.

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.

OK thank you