Hi,

I'm really hoping for some advice on how to proceed with an issue

I have with car finance if possible. I don't want to name the garage/finance company.

I purchased a car in April 2012, and lost my job in October the same year.

I struggled to maintain the monthly payment until December

when I contacted the garage/finance company in the hope of a reduced payment,

or even a short payment holiday to tide things over into the new year, and expected to be back in work around April time.

To cut a long story short when speaking with the manager director and explaining my situation,

he lost the plot and insisted on repossessing the car on that day,

although to avoid a scene outside my home I reluctantly agreed to drop the car at his garage.

The garage sold the car, in January 2013 and has since attempted to claim close to £8,000

being the balance of the agreement after the sale of the vehicle.

However until now I have received an annual letter to which I have posted a standard response

due to issues over the sale of the vehicle, and at one point I did make a complaint to OFT about their conduct.

The reason I have decided to post today,

is that I've received my annual letter,

this time it attempts to address some issues I raised more than three years ago,

although with a rebate making the sum outstanding £5,000

- should I not chose to accept this offer I will receive a county county summons within the next couple of weeks

- I've heard all of this before, but I think this one might arrive.

The vehicle was purchase with a fixed sum agreement, and a bill of sale,

it is this that the owner suggested gave him the right to insist on the return of the car

the very same day as the telephone call back in 2012.

Look forward to any assistance, or insights into where I stand with this.

regards

rct

sounds like your old advantage finance debacle.

there was no dn issued so they repo'd unlawfully

off you go

exactly the same as before.

car and all the moneyback please

dx

Just sent you a PM dx

Done

Notice of Default?

Notice of Default?

no notice of default,

only things I received is a letter acknowledging they have received the car,

an annual statement

and a letter about the outstanding amount,

until the latest letter mention in my initial post.

I also receive a monthly black mark on my Equinox credit score which is somewhat killing my credit rating

as with your advantage thread then..

no notice of default

then the repo was unlawful.

Thanks for your help, sent you another PM in response to yours.

This article explains well--

- Motor finance is an area which often requires an additional consideration when contemplating debt recovery action,

because the relevant credit agreement may be a hire-purchase or conditional sale agreement.

In these cases, where the debtor (or hirer) has paid over one third of the total amount payable,

the vehicle is provided with the special status of ‘protected goods’ under section 90 of the Act.

This means that it cannot be taken from the debtor without either a court order or his consent.

If a vehicle is taken in the absence of either of these,

then it could become an expensive and time-consuming exercise for the lender that entirely defeats

the purpose of seeking to recover the asset in the first place.

This is because section 91 provides that where section 90 is breached,

the debtor is released from all liability under the agreement,

but he retains a right to recover damages equal to all payments made.

These payments may even include the value of a part exchange vehicle.

The first issue to be addressed

– in common with all credit agreements

– is that of bringing the contract to an end through default and termination.

In the event that this is not done correctly,

then there is no basis upon which to take the vehicle,

and instead the debtor will retain his contractual right to possession under the terms of the agreement.

Assuming that the agreement has been brought to an end correctly,

then the contractual right to possession will terminate alongside the agreement.

But that is not the end of the story

– if the hirer has statutory protection against the owner

repossessing the vehicle under section 90,

then, in view of the consequences,

it means the lender will have to approach the matter with a certain degree of care.

In theory the easiest method of repossessing a protected vehicle is for the lender to obtain the debtor’s consent to take the vehicle from him.

This approach also has a commercial logic in minimising costs when ultimately they may not be recovered.

It is important to remember that the consent must be genuine and given voluntarily,

and, therefore, lenders should make sure that where third party recovery agents are used to repossess protected vehicles,

the processes that they adopt are reliable in this regard.

Practices involving either coercion or misrepresentation could cause licensing issues

when considered under the OFT Irresponsible Lending Guidance.

As a minimum,

the lender should obtain from the debtor a signed mandate at the time of the repossession,

stating clearly and unequivocally that the consent is given freely.

The mandate should also provide full details including the debtor’s name, address, vehicle description and related agreement number.

It is useful too if the mandate includes a declaration to this effect,

together with a comment on the fact that the keys and logbook have been provided

– such an approach is likely to indicate informed consent and so reduce the risk of any future claim under section 90.

If consent to repossess the protected vehicle cannot be obtained from the debtor,

the only option available to the lender is to obtain an order from the court for its return.

As ever, the process of issuing proceedings inevitably involves risk, additional costs

and may cause delay in recovering the vehicle because attendance at a hearing is likely to be necessary.

Thank you dx, I've still have everything from the Advantage issue, so I guess its a matter of waiting for Finance U aka Corner Park Garage to make the next move and I'll deal with it from there.

Hi DX,

Not been around for a while,

in the meantime claim issue,

defence filed & DQ due to be filed.

Although as you pointed out from a CCA point of view

my previous issues set me in good stead to deal with the issue,

but I have little experience in the Bil of Sale department.

The CCA & BOS I have are signed and witness by one and the same person.

When digging around on the web, I came across

http://www.bailii.org/cgi-bin/markup.cgi?doc=/uk/cases/UKUT/AAC/2011/280.html&query=nine+and+regions+and+v+and+oft&method=boolean ,

this seems to say that this makes the BOS void,

but do you or anyone else have knowledge of this being used in defence?

As ever thanks for any input

Regards

RCT40

You may read on the internet that your BOS will be void if witnessed by your lbl lender

.

Since the OFT( as was) lost the attestation case on appeal by 2 to1 this is NOT the case

.

full details here http://www.bailii.org/cgi-bin/markup...method=boolean

any chance you could fill this out

http://www.consumeractiongroup.co.uk/forum/showthread.php?419198-You-have-received-a-Claim-What-you-need-to-do.-**UPDATED-December-2014**

and copy up your defence and DQ/ws

[suitably redacted ofcourse!]

.

Thanks DX, I get url not found when following the link.

I'm up to my eyeballs with work this week and away over bank holiday, but I will certainly provide all information requested during next week.

not sure about the link

i'll find out later

just that what you quoted is now old hat.

dx

Name of the Claimant ? FINANCE U LIMITED

Date of issue – 22/07/2016

What is the claim for –

1. By a credit agreement regulated by the consumer credit act 1974 and dated 06/04/2012 the claimant lent the defendants the sum of £10.337.25 to be repaid with interest and charges

by

one instalment of £295.00 on 06/05/2012

and 48 monthly instalments of £398.16 thereafter.

2.By a letter dated 26/04/2016, the amount outstanding was £7,911.68.

No payments have been received from the defendants since the letters before action were issued.

However a rebate of interest amounting to £2,911.68 has been applied.

3.Accordingly, the defendants are indebted to the claimant for the sum of £5,000.00.

Copies of the sales invoice from C.P.G(Wales) PLC T/a Corner Park (Item 1),

The credit agreement (Item 2)

and the letters before action (Item 3) have been sent to the defendants.

The claimant claim the said sum of £5,000.00.

What is the value of the claim? £5,000

Is the claim for a current account (Overdraft) or credit/loan account or mobile phone account? Fixed Sum Credit Agreement and Bill of Sale.

When did you enter into the original agreement before or after 2007? 2012

Has the claim been issued by the original creditor

or was the account assigned and it is the Debt purchaser who has issued the claim. Claim by original creditor.

Were you aware the account had been assigned – did you receive a Notice of Assignment? No

Did you receive a Default Notice from the original creditor? No

Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ? No, a document entitled annual statement has been received each year.

Why did you cease payments?

When contacting Finance U in December 2012,

hoping to setup a temporary reduced payment arrangement, as I had lost my job,

I was informed that as I no longer had the means to pay the full monthly pay

the car should be returned by close of business that day,

or it would be collected at my cost £195.

I elected to take the drop it off myself route to save costs as money was tight,

and under duress returned the vehicle as requested.

From this point I made no further payments.

What was the date of your last payment? November 2012. At the time I was forced to return the vehicle the account was up to date, with no defaults issued to date.

Was there a dispute with the original creditor that remains unresolved?

There was no dispute until I was forced to give the vehicle back.

Did you communicate any financial problems to the original creditor

and make any attempt to enter into a debt management plan?

Mentioned above, this approach caused the demand for return of the vehicle that day.

Thanks dx, I've copied the questions into my thread, and will follow up after bank holiday (sooner if possible) with Credit Agreements, BOS and defence that I have already filed.

go get 'em!!

dx

Hi dx,

I have scanned and redacted the CA, BOS and the invoice. Can you suggest the best method of uploading the png files to this thread?

thx

upload

Hi DX,

Attached are the documents you ask for, if I have forgotten anything please let me know.

Thanks

RCT40

Binder1_1.pdf

http://www.consumeractiongroup.co.uk/forum/showthread.php?191799-Finance-U-Ltd-Car-Repossession-letter-received-**Round-1-WON...-Ding-ding...-Round-2-now-on**/page3&highlight=finance

have a look have had dealings with this shark

http://www.consumeractiongroup.co.uk/forum/showthread.php?191799-Finance-U-Ltd-Car-Repossession-letter-received-**Round-1-WON...-Ding-ding...-Round-2-now-on**/page3&highlight=finance

have a look have had dealings with this shark

I have read your thread with great interest, although the outcome doesn't seem to be there - could you fill in the gaps?

it was a long long time ago i am afraid...i only remembered by having a search as i had dealings with him...i have a feeling there maybe some other threads from way back that postgjj was doing with finance u...i will have a search and see what i can find for you

Thank you very much.