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Money Barn Repossession prior to default notice ?


Derwent
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A cousin of mine had his car repossessed by Moneybarn recently and he made a complaint to them which they have investigated. He gave me their response to read and something struck me as not right.

 

In their written formal response they have stated that they repossessed the car on 11th October. A couple of paragraphs later they then say that a Default Notice was issued on 13th October.

 

I was under the impression that a default notice had to be issued prior to repossession ? Can anyone confirm this and advise what he can do about it (if anything) ?

 

Also, regarding the 1/3rd rule, does it apply to the full amount including arrangement and admin fees or is it 1/3rd of the actual loan ? His total to repay was £16,550 but he had repaid an amount that was agonisingly close to 1/3rd being just £84 short. However, the agreement included a total of £400 in admin fees so if they are discarded then he is over the 1/3rd mark and they should have needed a court order to repossess.

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who repossessed the car? was it on private land when repossessed? if so did your cousin hand over the keys and docs, To repo against your will from private land they need a court order at any stage, 1/3 rule applies to total payable, but includes the deposit in the amount paid

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From what I can gather it was repossessed by an agent acting for the lender (not a bailiff) and was driven away from a communal car park at the flats where he lives. It seems that the lender retained the log book and a set of keys so simply drove it away !

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Tje admin fees are penalty charges and can be reclaimed. Money barn are known for adding them.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

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  • 3 months later...

what happened in the end?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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