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I got a car loan with GE Money "GE Capital Woodchester"
I did not pay the loan. I sued my bank for excessive bank charges, they closed my account. Got another account did not get new direct debit form from GE- payment late more bank charges. Ends up that I missed 5 payments, they apparently sold my contract with them to a company called asset Link capital. Thery sent me a letter saying account had been defaulted (GE that is).
Got a letter ,do not know who from ,to phone a number so car could be repossed. I ignored it.
Got another letter saying that I agreed to sell my car for £1,500 the book price and pay £8.256.69. Ignored again. Have got it somewhere.
Both letters seemed quyite dodgy and frightened me, so hid the car.
Got a letter from asset Link capital on the 4 October 2006 saying the outstanding balance on my account was £8,256.69 to be paid in 7 days or they will pass account to debt collection Agent or a solicitor without further reference.
Got a phone call from someone who said they were from this company giving me another week. Asked them to be reasonable give me a better figure to pay and I would pay it. They said no.
Got another call that afternoon from some girl called Alice saying she had taken over the case and how weas I going to pay.
Obviously do not have £8000 or would have paid it to get them off my back.
The next week she phoned, had I got the money said no. Could pay the arrears of £1000, and she told me the arrears were £1200 could not accept any less. Didn,t have it. Said she phone again the next week which she did and told me that she would phone again the next week still not taking the money or coming to any payment arrangement.
Have not got the money now as I have a £400 garage bill to pay. Will continue with that in a minute.
I need some advice realy.
I have got a contract for a car loan as I said above. My copy is not signed or dated, though I know I got the car on the 20 Jan 05.
I have made 18 payments on the car MG ZR 52 plate and paid £3038.58 so far.
Financial details
Amount of Loan £6658.00
Acceptance Fee :£149.00
Administration Charge: £85.00
Total Charge for Credit: £3555.60
Total Amount Payable: £10363.60
I estimated that by the time I finish paying for the car I will actually have paid £11549.08. £1185.48 over the agreement.
I have also been informed that my GAP insurance which I do have a signed copy of is not worth anything because my account was defaulted. How can this be surely I must have paid for it when I took the car?
The reason I do not have the money is bacause I have a car bill here for £352.00. The car was blowing out clouds of black smoke so took it to local garage. The man who works on the reception said that he had changed all the filters on the car and also done the front discs and breaks cos they were dodgy. £140 for labour plus the bits and VAT. Great, then had to take the car to another garage because the problem it went in for was not fixed and it cost me another £100 to get the turbo house changed, as it was split. Just letting off steam here realy. Thanks foir reading.
Serioulsy need advice about the above though with asset Link capital.
WHen you took it out part of the agreement will have been the GAP insuarance so you would have been paying for it as the agreement went.
You state that you got the loan but did not pay it, but further on you state that you have paid 18 months????
With regards to Link taking on your debt that is fine, they are just another finance company, what i would not do (and this is my own personal experience and opnion) is ignore what they send, and when they phone try and come up with a payment plan, that way you are showing willing. Even if they don't agree to one start making payments and then that way should they try and take things further you again can show you have tried to resolve the matter.
Oh and i would advise that you request from either Link or GE a copy of the original agreement unless you know it will come back signed as if it is not and i am sure someone will correct me if i am wrong will not be binding.
With regards to the garage and repairs, did you dicuss with the original garage about the fault not being sorted, did you authorise the other work with regards to the disks and pads and if not why did the garage do them.
I to have a problem with GE Money missed 5 months payments .Asset Link Capital have now taken over i have offered to make monthly payments by direct debit plus extra off of the arrears .They did not want this and i was told we have a week to get this money in full . Has anyone had this happen to them ?? and what should i do next ??
Need Help - asset Link capital
form from GE- payment late more bank charges. Ends up that I missed 5 payments, they apparently sold my contract with them to a company called asset Link capital. Thery sent me a letter saying account had been defaulted (GE that is).
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