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Ifeel they are at it - help

ancient spirit
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I have just received a letter from capital bank that states that in reference to a recent telephone conversation - they have agreed to ;


In order to assist you in reducing your liabilities under the agreement we will sell the vehicle as your agent and deduct the net sales proceeds of the vehicle from the amount due to from you under the agreement. You will still remain liabke for the shortfall. The net sale proceeds will be the sale proceeds less all costs incurred in collecting and selling the vehicle together with interest. We will sell the vehicle as your agent subject to the following terms and conditions.


1 Agrees to act as a sole and exclusive agent for you for the purpose of the sale of the vehicle.

2 You will deliver the vehicle to at the address below or such other address as shall be notified to you by us. With the vehicle will be all relevant title and registration documentation, the vehicle manual, the service history and all sets of keys.

3 On completion of the sale of the vehicle by us and receipt of us of any sales proceeds you shall pass good title to the vehicle to the purchaser of ot free of any liens, charges, covenants and claims.

4 We sell the vehicle in any manner (including Auction) as we think appropriate and shall not be obliged to obtain any minumum sale price possible.

5. The net sales proceeds will be deducted from the amount due under the agreement. You will pay any monies remaining owing after the deduction of such net sales proceeds immediately following the sale.

6. Kindly sign, date and return the copy of this letter enclosed by way of acknowledgement of your acceptance of the terms and conditons of this offer.





Ok now the truth is that i have never spoken to any of them and never agreed this. I owe 2 months money on the car and sent various letters to try and reach a deduced payment amount due to my back injury. The car is not on a higher purchase agreement or any such kind. On the doccuments (agreement) it states that it is a fixed sum loan agreement.

In the default notice it states "personal loan agreement"


I do not want them to sell the car and have offered to pay reduced amounts until my back is better - they refused and now send me this saying they will act as my agent to sell the car. I am happy to continue paying reduced amounts but they are not being helpful. Please help

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