Thread: No Interest Rebate On Repo

Bought car April 03 financed by GMAC, got into arrears and had a summons for repo, appeared in court and Judge made posession order suspended on basis debt was repaid at the rate of £200 per month. Sent cheque on Nat West bank account, it bounced, did not konw, Nat West were the only bank that levied charges with a policy not to send out confirmation letters. GMAC failed to contact me or represent cheque. At a much later date got SAR documants which at the time said "04/04 reviewed chase customer either for replacement funds or issue out for recovery" "05/04 £200 cheque bounced we are chasing a replacement payment" the vehicle was repossesed on 6/04/06 with no contact or prior warning. Next entries were "09/05 reviewed seems vehicle was reposssessed on 6/4 good result".
I could ask if I had a claim against Nat West but my real issue is this, the purchase price included interest over 5 years, if they rebated interest and rebated the amount recieved for the vehicle and advised me of the shortfall then I would have contacted them and arranged some sort of repayment, they insist that the full interest is payable.
I was not advised what the proceeds of the sale was, I did check my credit file last year and GMAC is shown as settled so i assumed they did rebalte the interest and sold the vehilce and the shortfall if any was not significant and was written off.
This week I recieved a letter from DLC acting on behalf of Hillsden claimingthey bought a debt on 1 July 2008 from GMAC for £3948.45. There has been no contact from GMAC since the day the vehicle was repossessed apart from the response to the SAR request on 11 October 2006.
Can they charge interest to March 08, could they repossess without contacting me and as Nat West had a policy to bounce items and not inform account holders by post and there is an OFT case to decide if this was a penalty charge by the bank, [obviously there was a bank charge] are they partially responsible for the debt and loss of the vehicle.
I was of the opinion they took the car back due to arrears, sold it and were not out of pocket so I was going to put it down to experience and as time went by forgot all about it and was happy to let it go, what now.

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