They will repossess as a final resort if you default, most finance companies will allow 3 months arrears before they get edgy. You don't say the value of the agreement, if the financed amount is under 25K the CCA applies. If your agreement is dated 7th April 2007 onwards you are protected by the CCA regardless of the value (over 25K), and the vehicle will be 'protected goods'. My agreement was prior to that date - Judges hands were tied. hope this helps and good luck

There must be some protection in the law regardless of the amount financed?

The exact wording from the letter is - 'We are in receipt of your Application to Set aside Judgement, Whilst noting the contentions made this was not an agreement regulated under the CC Act 1974 as the amount financed was over £25000. The contentions that the vehicle was "protected goods" is wrong at law and we would invite you to withdraw that contention'. I put all the info in my court response, and have been granted a hearing, so there must be a shred of a claim. I'm just missing the key element as I can't find much info on non reg agreements.

Just received a letter from the MB Finance Solicitor, asking that I withdraw my claim before the hearing. Any comments - Could it be that I have a point ? or he doesn't want a wasted day out?

An up-date to the misery! Got a charging order for the amount of the CCJ, but as I applied for set aside, this has been vacated, with an invitation to a hearing to decide final set aside May 22 moved to my home ground I might add. Its not time for the bubbly yet but it is a step back the other way. Does anyone know can I now bring about my claim for the full refund ala illegal repo, or do I have to wait for set aside?

Sorry to hear that for both of us, Filed for set aside of current judgement yesterday, and fingers crossed, a counterclaim could be on the horizon.

mb terms125%.pdf mbfinacialdetails.pdf

I think I'm ok on the amount paid as it would be just under 1/2 even with the balloon included - I was 3 payments away from the end. But another point is, that if you don't opt to keep the car why should you still be liable for the balloon? The repossession denied any options in any case. Can they have the car AND the money too? I am attempting to scan the agreement for posting.

My agreement was a non regulated contract purchase, therefore not covered by the consumer goods act 1974. I can't find much detail on this type of agreement, the rights are not clearly stated as with a regulated agreement. Would it be the case that it is down to the interpretation of the agreement itself?

encouraging comments, I can't see the logic in including the balloon figure in the amount owing, and hopefully the arrears will be countered by any claim I may have against MB. I will write and test the waters, might be able to save the court fees. Does anyone know is it trading standards or ??

Thanks for the move elsinore, nice to hear confirmation of the refund aspect. I don't know how to start it off though legally, the wording of a claim is obvoiusly very important, and I wonder if there are any successful cases?

Hello, this is my first post and really I need some advice. My car was repossessed from my driveway without a court order in August 2006, the CPC contract was two payments from the end, but these payments were obviously in arrears. MB Finance took me to court (last month) for the two payments plus my liability of the balloon shortfall. I had managed to communicate away from this outcome for almost 18 months, in an attempt to negotiate the balance they said I owed, and as there was no 'further agreement' ie. arrangement to finance the balloon element due to arrears, I did not think I would be liable for the balance requested. The last reply from MBF solicitor was a short letter saying they would apply for a judgement within the next week, one day later the judgement arrived dated earlier than the warning. Do I have any liability for the shortfall and/or Can I claim back all that I have paid, as I have read that where the criteria of the repossession does not include a court order this is possible and what about their current judgement against me (6815.95), does this need to be set aside prior to a counter claim? Does anyone know about this, please help.