£9000 for a car costing £3500 help please.

[tara2099]

Hi I am looking for some advice please.

I took my car finance or should I say my dad took car finance out for me with welcome finance back in 2005. The car was then mine and was registered in my name. Monthly payment was first set at £170 a month which I continued to pay for the first few months but found it very difficult. My dad and I went back to welcome who agreed to lower the payments to £80 a month which I paid for 3 years. The cost of the car was £3500 and the finance totalled £9000 to pay back! I asked in 2008 for a settlement figure and received a letter back saying amount still owed was £8000! As you can imagine this was abit of a shock as id been paying for 3 years at £80 and a couple of months at £170. I however started to default on payments due to losing my job and being unable to afford it and was told by them they were not willing to lower the payment again as they had done this once be4 3 years ago.

I also noticed on a break down of costs they sent me that i had been charge £10 per letter sent and also £50 per house visit of which there were 3 listed! I question this as noone had called at my home at all. I asked for the address these home visits had been made to and was given and address I hadnt lived at for 3 years. I asked them why this was and was told this is the only address they have listed for me my reply to that was how were they sending letters to my present address in that case! They could not answer this!

Anyway they have recently taken the car back and I was told I would be liable for anything monies outstanding after the sale of the car. Its been 4 months now and ive heard nothing.

Can you just advice me on what I should do if Welcome do come back to me demanding out standing balance?

Hope you can help. Thanks

[postggj]

TARA

 

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DID THEY REPO THE CAR

 

Welcome Finance - The Consumer Forums

[tara2099]

yes they have repossessed the car

[MARTIN3030]

Ok Tara thread here is yours-have re-titled too.

[postggj]

MARTIN

 

THIS IS THREAD NUMBER TWO

 

CAN YOU MERGE

 

THANKS

 

http://www.consumeractiongroup.co.uk/forum/welcome-finance/228294-welcome-finance.html