merc repossessed now what

[carpinjoy]

I had my merc taken back, after trying to get reduced payments untill I got myself back on my feet, all to no avail. This was 7 weeks ago and have recieved a letter from thier soliciters today demanding £14,404 within 7 days, I owed them £24,975 so by my simple adding, they have sold the car very cheaply. Now my questions are, do I have any recourse to the amount it has been sold for, since I minimum payments with all crediters including my mortgage, and I recieve child tax & working tax credit, so in other words I am in a mess finacialy. Do these soliciters have more clout than say dca or the like, or will they accept minimum payments as the others have done. If this goes to court what can they do to me ie: baliff or make me sell my property. MUCH ADVICE NEEDED HERE.

[beachcomber60]

Iam in the same boat as you on this one, although I cant offer advice I give my support to you.

 

I tried to make an arrangement with them it went on for months with letter writing, faxes which were all ignored, in the end I phoned them and they said 'oh yes its under consideration will have a decision within 48 hours' again this went on for weeks (together with the repo company ringing and knocking on the door for the car), in the end I just got so fed up I told the repo people to take it, rung MBF, they denied ever receiving any requests from me and that a restructure would have to be made in writing and a decision made within 48 hours.

 

FIVE weeks later I received a letter to say that they are not prepared to restructure the agreement and that I am no longer to be in legal possession of the vehicle (it had long gone back).

 

Only last week I received a letter telling me to ring them to discuss handing the vehicle back (fortunatley I have the receipt from the repo firm).

 

When I discussed this with the dca acting on behalf of MBF I asked about the shortfall, and was told that MBF would make an arrangement, by way of a loan agreement (regulated by the CCA 1974) for the shortfall at a rate I could afford.

 

Fortunately, ALL my telephone conversations both with the dca & MBF have been recorded.

 

I am concerned with what they sold yours for, and am really pi**ed off with the collector as he put on the collection receipt that the car was unroadworthy, dirty and interior was fair condition - the car was my pride & joy and was only valeted two weeks previous and bearly 12 months old.

Edited July 24, 2009 by beachcomber60
posted before preview & correcting spelling

[carpinjoy]

MINE WAS RECORDED ON THEIR SHEET AS GOOD CONTION AND VERY CLEAN, so if they have recorded yours as you say I too would be worried. My car would stand on any forecourt at £19000+ so what they have sold it for is peanuts, I told the soliciters that I wanted a breakdown of how the final amount has been calculated, then hopefully with some advice I can take this forward. M.B. Finance absolute pants no help ever offered, Itried for a restructure but was refused, when my situation money wise changed for the better allbeit breifly I tried a second time, just to be told they would not consider a second application for restructure, this after being told on the phone that this would be acceptable. They are CRAP

[carpinjoy]

can someone let me know where I stand on the rights of the solicitors acting for M.B, eg can they put a charging order on my property, should I let them take me to court (as I think I acn get payments reduced to what I currently pay all my other creditors), can they instruct a baliff etc. help needed here please.

[beachcomber60]

can someone let me know where I stand on the rights of the solicitors acting for M.B, eg can they put a charging order on my property, should I let them take me to court (as I think I acn get payments reduced to what I currently pay all my other creditors), can they instruct a baliff etc. help needed here please.

 

Hi,

 

Well I received my solicitor later this morning demanding over £14k within 7days - absolutely disgusted as it would appear they sold mine for less then £6k - iam sure they sild the car on its cherished number which was a 52 plate but the car was registered 2006.

 

A lot a questions need to be asked over this.

 

If I were you I'd post in the Legal section, Ive already posted mine there.

 

Beachy

[moonshinebabe]

I take it the solicitors are Stevensdrake? They are a nasty piece of work.

 

I too have the same problem. sold it 7k short and i have to foot the bill.

 

im paying £50 per month.

 

im only taking their word for it what it was sold for.

[carpinjoy]

have a look in the legal section, you can keep updated with Beachy and me as we progress.