car repossesion what to do

[markie mark]

hi guys

 

i bought a new car from ford in june 2006 and the finance was arranged via black horse.up until last january no problems until work dropped off overtime stopped bonuses stopped and now a 3% pay cut.the original payments were £496 per month i have been paying them £200 per month since febuary with there agreement over the phone i realise this is a temporary thing so does anyone know what my chances are of going to court in the end and keeping the car.i have paid over 50% of the original price on the hire purchase aggreement the problem is if i give the car back i cant get to work and i cant get finance for another car as my credit rating is now poor as i have got a bit behind with some credit cards. black horse have been fair but i am not sure if going to court and asking the judge if i can make reduced payments until the dept is cleared. im not sure if the court would have a sympathetic ear or not as i have never had any debt issues in the past.

[postggj]

With The State Of The Car Market At The Moment

 

 

I Very Much Doubt They Will Take You To Court At The Moment

 

After All You Are Paying Them 200 Quid A Month

 

Did They Say They Would Put The Interest Rate On Hold

 

You WoUld Get Plenty Of Notification If This Was Going To Court,

 

Your Repayments Are Helping Your Credit File Also

[markie mark]

no they have not put interest rate on hold and send me a default notice each month at an extra £25 cost

[postggj]

Have You Asked Them To Put All Charges On Hold As Well As The Interest Rate

[markie mark]

didn't know i could do that will ring them monday and see if they will. thanks for help.