Vehicle Finance - car repo'd , now Debt Sold On To Dca - illegal repo?

[Hogie]

Hi,

Had a vehicle on finance and defaulted in the last year of the loan.

The vehicle was repossessed but even though its value was more than was owed the finance company sent me a demand for over £2000.

Presumably the vehicle was sold at auction and was sold for less than it was worth

Didn't respond to the demand and didn't hear again for about a year or so.

The finance company finally made contact and again demanded payment.

I did respond but never paid anything.

About 6 months later I got a letter from a debt collection company to say the debt had been sold on.

They are now getting very pushy and I said I could only afford £50 a month and emailed a copy of monthly expenditure.

Have now received a letter asking for copy of wage slips, proof of benefits etc.

I have been reading on this site about others in a similar situation where debts have been sold on and the advice is to request copy CCA in most cases.

However, other cases studied all seem to be for bank accounts and credit cards.

Should I still request CCA for a vehicle finance loan?

Any help greatly appreciated.

[slick132]

Hi Hogie,

 

Moving this to the General Debt forum where I hope you'll get appropriate advice.

 

[TheChancellor]

Hi Hogie

 

Yes, same CCA process for the loan with the DCA that's chasing you.

 

Did you give your consent for repossession or did they get a court order?

 

If you had terminated the agreement you may not have had any shortfall.

[odds]

I'm sure that I have read read that if you had paid 2 thirds off the car agreement, then the car could not be reposessed. I'd do a search through the various forums, but hopefully someone may be able to confirm this.

 

Pete.

[havinastella]

You are quite correct.

How was the car 'repossessed'? Was it a court order or did they just turn up and take it?

[TheChancellor]

That's what I was fishing for.

If you had paid at least one third of the total amount payable under the agreement then they needed either a court order or your consent.

If they had neither then you have the right to get back any money that you have paid under the agreement.

(In Scotland they may need to get a court order at any time).

[Hogie]

Thank you all for advice and support.

 

Paid off 3 years of a 4 year agreement. We were warned that veh would be reposessed if we couldn't pay so agreed that they could come and take it. But no written proof of this as all verbal.

 

If we had known it would be sold for less than its value we would have sold it ourselves and probably been able to settle all or nearly all of what we owed.

 

Am I entitled to ask for evidence of how much the finance company sold the vehicle for so that I can verify the amount of debt which was sold on to the debt collector?

 

Many thanks.

[TheChancellor]

Get a £1 postal order & send them this Recorded Delivery:

 

 

The Finance Coy

Address

 

Oct 13th 2008

 

 

 

 

Account No: 123456 CarCredit

 

 

Dear Sir/Madam

 

With reference to the above agreement, we would be grateful if you would send us a copy of this credit agreement and a full breakdown of the account including any interest or charges applied.

 

We understand that under the Consumer Credit Act 1974 [sections 77-79], we are entitled to receive a copy of any credit agreement and a statement of account on request. We enclose a payment of £1 which represents the fee payable under the Consumer Credit Act 1974.

 

We understand a copy of any credit agreement along with a statement of account should be supplied within 12 working days and that under the Consumer Credit Act 1974 creditors are unable to enforce an agreement if they fail to comply with the request for a copy of the agreement and statement of account under these sections of the Act.

 

We look forward to hearing from you.

 

 

Yours faithfully

 

 

Hogie (Dont sign )

 

Then chill a little & start counting 12+ 2 days.

 

Just re-read your last post - send the letter to the DCA.

[Hogie]

Thank you so much for the advice and support.Letter sent today.12+2 days and counting!!!

[TheChancellor]

Thank you so much for the advice and support.Letter sent today.12+2 days and counting!!!

 

That's what CAG is about.

 

I'll be posting tonight looking for some help myself.

We learn a little & then pass it on.

 

Don't forget to confirm via the Royal Mail website that it has been signed for.They all have a nasty habit of never receiving mail.

[Hogie]

Thank you. It's nice to know there is help out there. I have my tracking number at the ready. Will update when and if I get news.

[postggj]

hi hogie

 

ref illegal repo, have a glance at this thread

it will help

 

http://www.consumeractiongroup.co.uk/forum/repossessions/150726-car-repossession-welcome.html?highlight=caz

[Hogie]

Thank you POSTGGJ for directing me to CAZ's story.

However, the CCA and statement request I have just applied for is in respect of a car that I gave back with consent because I could not afford the rest of the payments.

Sent my CCA and statement request 5 days ago.

Today have received a post card requesting that I telephone to arrange a personal visit from a representative.

Should I reply and remind that I have sent the CCA request?

Can they send somebody without having made an appointment?

Would appreciate advice please.

[postggj]

i take it that this will be a welcome rep,

they dont do this unless they are woried over something

this smells like welcome dont have an agreement

also they may not have a default notice either

 

send them a letter saying that you will have no further comunication with them until they comply with your cca request

 

this visit, another tactic, is to re-wright the loan

 

they can bog off till they comply

 

did you get a default notice and how old is the agreement

[Hogie]

Thanks for replying so quickly POSTGGJ.It is *******who I am dealing with, the debt was sold on to them. The Agreement was with *** taken out in 2002 and yes *** issued a default notice.However I will send a letter as you suggest.Thank you.

Edited October 17, 2008 by Hogie

[TheChancellor]

I wouldn't reply - they could be sweating having received your request and trying to panic you.

Anyone can knock on your door but you dont have to answer.

Chances of them paying someone to call "on spec" are pretty thin.

If anyone calls then tell them you are awaiting the CCA to see proof of the debt.

Then ask them to close the gate on the way out.

[TheChancellor]

 

they dont do this unless they are woried over something

this smells like welcome dont have an agreement

also they may not have a default notice either

 

 

 

I wouldn't reply - they could be sweating having received your request and trying to panic you.

 

 

 

Great minds think alike postggj

[Hogie]

OK so I won't reply. As long as they cannot make anything of the fact that I am effectively ignoring them. Have edited and removed names of the companies involved as I have just seen a warning that they are likely to read our threads. Paranoid or what!!!Thanks once more for the advice.

[cat100]

You shouldn't owe them anything,you have paid enough off the finance agreement.If the car was sold for £1 once they had taken it back thats their probelm.Provided the car was in reasonable condition ie not a wreck.Unless they went to court and got a repo order? you will not be liable for any monies owing.

All commnication via letter don't talk to them on the phone.

[postggj]

cat100

sort of correct in what you are saying

it all depends on what agreement was signed

hp

conditional sale, etc

[cat100]

Take your point postggj.We wait to see if agreement appears from them.

[TheChancellor]

..and it would have been best to formally Terminate the Agreement in writing.

Sounds like they just carried on with the repossession route.

Strange that.

[postggj]

and screw the consumer again

same old story

i am in agreement with the chancellor on this one

it will be odds on that the finance company will have no info on returning the vehicle,

they would be more interested in the repo

cant comment any more until the results on the sar are back to confirm things

[Hogie]

Update - 5 days ago I requested copy CCA and statement from the people who bought my debt from original vehicle finance company. They have sent 2 things - a copy of the Hire Purchase Agreement Form which I and the finance co. signed and a spreadsheet list of payments made, printed onto their own headed paper.

[cat100]

Can you upload the said agreement,making sure you hide anything that identifies it with you,name,address,agreement number etc.