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car finance- default notice recd...


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Hello,

I now have the ongoing problem with car HP agreement that i am behind with. Default notices recd...

I have paid approx 2/3 of total but now cannot maintain payments- I need car so would like to keep it. They (BCT) will go for court order as I will not let go on a voulumtary basis- can i make a much reduced payment plan with the courts which would overide the HP agreement or will the courts automatically grant full repossession rights to finance company

Thanks

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LTWTL If this is going to proceed to court as they wont let you make reduced payments there are a couple of options....

 

Scan the Agreement if you have a copy and the default notice, take off personal stuff and then post up so others can advise if they think its possibly unenforceable (also depeneds when it was taken out). The default notice can also be checked that they exited the contract correct.

 

Another possibility is apply to the court for a Time order, this changes the payment amounts and you would need to prove to the courts that this is a temp change I believe.

 

S.

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If you defend the court claim (and have a good reason for non payment) it is very likely that the court will grant an order for reduced payments and suspend possession, given that you have paid 2/3 of the agreement.

 

It would be a good idea to write to the finance company asking them if they will accept reduced payments (enclose a budget sheet) it may just stop them issuing a court claim and if they still go ahead you can prove to the judge you have tried to come to an arrangement.

 

If you need help with the letter let me know.

 

Ell-enn

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hi, from what you have said, you are in a very strong position as you have paid 2/3 off for the car.

 

what you can do now is,

 

phone the company who supplied the car tell them that you would like to come to an arrangement and pay what you can afford.

 

if they do not agree to this then,

 

ask them to send you a copy of the original agreement as well as for a breakdown for all the charges that makes your outstanding balance.

 

have a look through the charges and make sure nothing is in contravention to the OFT's guidance on unfair contracts and terms:

 

http://www.oft.gov.uk/shared_oft/rep...rms/oft311.pdf

 

wait for their claim to arrive

 

admit to the claim but tell the court that you have paid off 2/3's of the car and only have 1/3 left to pay off, but because of financial situations could they agree to you paying a more affordable amount. as long as your suggestions are reasonable i can not see the court ruling against you.

 

for further details have a read through:

 

Hire purchase and debt : Directgov - Money, tax and benefits

 

and also:

 

http://www.oft.gov.uk/shared_oft/consumer_leaflets/credit/oft809.pdf

 

 

 

 

 

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Many thanks for the above advice- I am on it today- can't find copy of original agreement but will request and the scan and post everything up on here..

If i didn;t need car then i'd almost certainly just give it up but i need it for my work and all i really want is to have a little longer to pay this off

Thanks again

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Many thanks for the above advice- I am on it today- can't find copy of original agreement but will request and the scan and post everything up on here..

If i didn;t need car then i'd almost certainly just give it up but i need it for my work and all i really want is to have a little longer to pay this off

Thanks again

 

Do as Ell-enn suggests and see if they will reduce the payments, also read up HERE on time orders as if they proceed to court this might be useful.

 

S.

Are You as Anonymous on CAG as You Think You Are? *Link*

 

The CAG is a free help site,should you be offered help that requires payment,please report it to site team.

 

Deal with your debts:

STEP ONE - Dont Panic! | STEP TWO - Priority & Non Priority Debts | STEP THREE - Personal Budget Sheet | STEP FOUR - A SAFE bank Account | STEP FIVE - Dealing with Priority Debts | STEP SIX - Non-priority Debts | STEP SEVEN - Non-Priority Debt-Repayment Opt1 | STEP EIGHT - Non-Priority Debt-Repayment Opt2 | STEP NINE - Perils of Consolidation | STEP TEN - RE-Evaluate Frequently

 

***** SERIOUSLY IN DEBT, DONT KNOW WHAT TO DO, TRY NationalDebtLine's MoneySteps *****

 

 

IMPORTANT: Please take my advice in the spirit it is given and on the basis that I am expressing my opinion, These opinions are not endorsed by CAG in anyway and are offered informally without prejudice or warranty of any kind. These opinions are solely based upon the knowledge I've gained from this fantastic site and life in general. I have NO legal training.

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  • 3 weeks later...

Firstly, thanks for the advice so far…….An update..

I wrote a letter to them requesting for explanations of the charges and copy agreement- I sent this by recorded delivery…Not only did I ask for a breakdown of charges I also offered to them reduced monthly payments until I can increase. They have chosen to ignore my letter and instead sent another ‘FINAL DEMAND’- 7 days notice or repossess car.

I received another letter yesterday but it seemed to totally ignore my letter as they make no reference to it. This latest letter goes on about 7 days only to sort and ‘FINAL DEMAND’ at top of it.

  1. 2 things now- the letter I sent requesting the information was only a standard letter I’d written and not an ‘official request’ as per some examples on this site. Should I also send an official letter with the £1 postal order – please could someone advice which letters I should be sending as I don’t want anyone to repossess car after 7 days
  2. Secondly- as they are just ignoring my letters/ emails etc- will they be able to just repossess car

I really want them to come to some sort of arrangement but they don’t appear interested..

All help very much appreciated

Thanks

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The Default notice could be important too LTWTL...

PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

 

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You need to write to them enclosing a copy of your letter and proof from the Royalmail website that they received it.

I'm just leaving the office - I'll come back to you later this evening.

Ell

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Hi - send them this by recorded delivery:

 

....................................................................................Your address

 

Date:

 

Their Name & Address

 

 

 

 

 

Dear Sirs,

 

RE: Account No: XXXXXXXXXX

 

I am in receipt of your letter dated XXXX regarding the above account.

 

I wrote to you on XXXXX (copy affixed) which you received on XXXX (proof of receipt affixed), regarding a change to my financial position and making an offer of reduced payments until my situation improves. To date I have had no reply.

 

I note from your letter that you intend to repossess the vehicle under this agreement. I would advise you that I intend to defend any action for possession and having taken advice I am aware that, having paid more than 2/3 of the agreement, you would require a court order to repossess. The fact that you have not responded to my request will also be reported to the court in any defence.

 

I trust you understand my position in this matter and that you will be able to respond positively to my request for reduced payments.

 

Yours faithfully,

 

 

XXXXXX

 

Encs.

 

Enclose a copy of the letter you send and the proof of receipt from the Royalmail website.

 

Ell

Help us to keep on helping

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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  • 3 weeks later...

Good result - well done for standing up to them :)

Help us to keep on helping

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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