Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I need help.I have a car on finance but unfortunately my business has taken a turn for the worst and I now can no longer afford the car. The problem is this. The contract states that if I do not keep up the payments they will take the car back (that is fine and that is what i am expecting and want) however they say I will also have to pay half of the full finance amount i.e £26,000. So i will have to give them the car back and £13,000. I know I should have read the small print!!! But is this fair and enforcable?The redemption figure at the moment is £19,000 i could sell the car and get about £14,000 but the problem is I would have to pay the shortfall at the time of the sale which I just cannot do. So can they take a £14,000 car and £13,000 cash when there is only £19,000 outstanding?
If it helps at all, I'd be happy to value your car via PM, so at least you have figures to deal with. I hope I'll be corrected, but a lot of these deals are so hopelessly sewn-up that you may find moving heaven and earth to make the settlement figure the best option in the long run, even taking a personal loan to cover it may be better than their interest rates.
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