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    • Received paperwork now from them prior to 30th deadline. is it worth uploading here or just send my 181 back with the draft directions from my side? 
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lewis94

Capital Bank Car Repossession

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I am only looking into this now as after reading some comments on here has made me re-think the position I am in.

 

I took out a hire purchase agreement with Royal Bank of Scotland in 2008 which subsequently became a Capital Bank agreement. The HP agreement was for £23000 and I made a number of payments, however I defaulted on a couple of payments.

 

All the correspondance sent came from Scotland and they were not helpful in the slightest. I corresponded with them numerous times but out of the blue a collection agency turned up at my premises to reposses the car. When they attended they came in force, four of them, handed me a form saying they had gone to court to get a repossession order and then took the car. I phoned the police and they werent interested. This was in mid 2009.

 

They took the car to auction and it got sold for just over £8000 however the book price for the car was between £14000 and £18000. It later transpires the owner of the collection agency brought it at auction.

 

I have a couple of issues I wanted to get advice on;

 

- can they collect goods without a warrant or anything notifying me as it was from scotland

- does the agreement differ using Scottish law rather than English law

- can they undersell goods even if they know their true value.

- I keep getting final demand notices for the remaining £11000 threatening to take me to court and it now shows on my credit file I have defaulted on a payment of £11000 4 times when I was only paying £254 per month previously

 

Many Thanks

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because you contacted someone in a scottish call centre is irrelevant. RBS has registered offices in England and any proceedings would come from there.

 

if you have paid under a third of the agreement they do not need a court order.

 

can you confirm when you took the agreement out and how long this was for and how many payments you have made?

 

i have moved this to the debt forum

 

 

ida x


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You won't get the book value of a car at a car auction. I have bought cars at auctions twice and they are bought as seen. They just drive them up in a line, the bidding starts and they go to the highest bidder - next! Most buyers are dealers. So, yes, they can legally sell it below the book value, as they have. There is nothing to stop the collection agency from buying it - an auction is open to anyone. The auction firm don't care who they sell it to as long as they get their fee.

 

Having a car repossessed is a pain because you lose the car and still have to pay the shortfall. It might be worth checking the agreement to see if it is in order but being 2008 and a mainstream bank it probably is. Sorry.

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time to ping postggi me thinks.........

 

is the car specifically mentoned in the hp?

 

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anyone connected with the finance company or collection agency CANNOT bid for your car at auction

 

the first thing i would ask for is the name and address of the auction it was sent to then write to the auction for details of the sale

 

 

if the car genuinely booked from 14-18,000 (even a repo) would not go 6K below book price at auction.

 

 

the finance company has a duty to mitigate its losses and also has a duty to obtain the "best price" for the car- if you can produce a blue book or glass's guide (see a local dealer ) from the time to show this valuation the finance company should have been alert to the fact that the car was being sold for an unreasonable price

 

further most auctions put a car through for 2 or three auctions and if it (allegedly ) went in the first auction at that price it would be suspicious

 

I suspect, if the figures you are giving are correct, that this car never went through the auction room

 

If you get no satisfactory answers then i would be looking at making a complaint in writing to my local constabulary that you believe there may have been a conspiracy to defraud

Edited by diddydicky

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had you made more than a third in repayments

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he took it out in 2008 for 23,000 and was paying 254 per month- unlikely

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good point

 

may i ask if you can provide a link

 

anyone connected with the finance company or collection agency CANNOT bid for your car at auction

 

need to book mark that

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sorry havent got any link to give

 

i am guided by information gleaned in my former bailiff life

 

clearly there is a conflict of interests if the collection agent bought the car for 6000 less than bookl

 

I have bought hundreds of cars at auction (did it as a sideline) for people and it is my experience that HP reclaims normally sell at the bottom end of the glasses guide price which would be the 14000 quoted (assuming that this was correctly stated and not just a personal opinion)

 

i remember whilst working for drakes that a bailiff and recovery truck driver was the subject of a police investigation for the self same thing (don't know what the outcome was)

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If Anybody Has A Link Ref This Conflict Of Interest

 

Please Post It Up

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I'd be interested to see any link too. As I see it, the agent is paid a fee to collect the car - they have nothing to do with the agreement at all. The reserve price at auction will have been set between the bank and the auctioneers. To prove fraud you would have to prove there had been collusion between the auctioneer, the agent and the bank to keep the price artificially low and I don't think any bank is going to that just so a collection agent can get a cheap car. It also reached its reserve price. That also precludes that anybody could have bid higher and outbid the agent which was always a possibility.

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the "Agent" is in a priveleged position in that he is aware of the financial plight of the person he has recovered the car from

 

the bank itself of course is remote from the practicalities of the physical recovery of the vehicle.

 

i certainly know that a bailiff is not permitted to bid for goods he has seized at auction but have no link re the recovery agent

 

 

what i am saying is that IF the correct glasses valuation at the time of auction was 14-18000 ( and this is not just the posters own opinion) then the car was NOT sold genuinely through the auction at 6000 below the bottom book price

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Bailiffs are in a different position because they are required to collect the outstanding amount. Collection agents only have to collect the car and take it to wherever the bank want them to take it - end of. I suspect a good percentage of cars at auction are there because people can no longer afford them. As for Glass's guide, that is all it is - a guide - and I suspect in the credit crunch when people were not buying cars they would go for a song.

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i can only give my opinion and advice

 

its up to lews if he/she wants to take it

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I totally agree. I only gave my opinion too.

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If anyone could offer any advice on my situation as it is really getting to me now.

 

I defaulted on an RBs car loan in Nov 2008.

 

They contacted me for payment etc and then Imperial Solutions threatend to come and collect money.

 

I have been on a debt management plan with 4 other companies from July 2008.

 

I wrote the RBs and Imperial sending copies of my debt management plan

and agreements etc and they wrote back saying in this instance they would not persue a

s they could see I have no further means to pay, however they would review yearly.

 

I have now, in this week alone,

had three very blunt and threatening letters from Direct Legal Collections

saying I am to pay them the £11k owed within 7 days or they are going to start proceedings to reposses items.

 

My DM payments were upto Jan 2010 were £100, £100, £95 and £96 respectively.

 

After Jan 2010 I had to renegotiate the payements to £88, £89, £67 and £69 due to the fact I have had to take pay cuts to ensure I keep my job.

 

I cannot afford to pay any further payments and my current DM plan still has 3 years left to run.

 

I have no possessions and live at home with my parents who are elderly and certainly cannot undergo door stop collections as threatened.

 

Can anyone suggest a way that I can deal with this in a suitable manner

and not only stop the threatening letters but revert them back to the previous correspondace with RBS

and Imperial whereby I have proved I cannot pay.

 

Many Thanks

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For your information, they cannot visit you without an appointment. You can have them arrested if they attempt to do this. Even by threatning Doorstep Collection without an appointment they can be arrested.

 

You should write back to them and tell them that they are not invited to come to your home address and if they try, you will call the police and have them arrested on site. If they threaten you again with doorstep collection you will contact the Police as well as the Debt Collection Enforcement Team at the Office of Fair Tradaing, in which case, they may lose their debt recovery licence.

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Thanks everso much. I rang them and they said they would attend as they had been 'instructed by the courts' to do so. I then pointed out the information I had found on other threads about harrassment etc. The guy on the other end of the phone got shirty and told me to 'try it and see what happens'. I asked for his name and he hung up. I recorded time and date of conversation just in case.

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I sent Capital Bank/RBS a request from the template letters here.

 

They acknowledged and said they had until 22 October to reply.

 

They did with a letter saying this is all we had, which was hardly anything.

 

Luckily I knew the dates of the information I had previously sent and reminded them of this.

 

They wrote back saying that they were sorting out the information and would come back to me.

 

That was on 4 November 2010. The original request was made on 12 September 2010.

 

The last letter had a reference of Hillesden Securities Ltd formerly Bank of Scotland.

 

What course of action should I take now?

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Hi,

 

Was it a SAR you sent or a CCA request ?


 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

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I sent a SAR asking for copies of everything on my account as I asked over the phone for copies of the default notice and paperwork that went with reclaiming my car - they didnt have it to hand was the answer

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Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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After a long drawn out 'fight'

 

RBS sold on my debt to a third party, who then sold it on again.

 

The orginal debt was for £11k+,

however through the process of selling it on to another debt collection company

I have managed to settle for a reduced full and final payment of £4180 which is 38p in the pound,

more than they paid I'm sure but they wanted £7k and we agreed on this

(and yes I followed protocol for paying and making sure they couldnt come back to get me.

paid a solicitor £15 for a letter saying if they accept payment from a debit card thats the end of it!!

I had no one to write a cheque)

 

I am now stuck as to my credit file.

It still shows RBS owed £11k+ whereas the debt, although sold on, has been paid.

 

Rang RBS and they said its the DCA, the DCA say its RBS,

emailed experian but nothing back.

 

Should it not be changed to show a partial settlement and zero outstanding or should it be zero and who should do this?

 

Any help would be appreciated.

 

Thanks

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Hi Lewis it is dependant on how your full and final was worded - we woudl certainly advised that a part of the agreement was the cra's to be updated as satisifed.

 

On the credit report itself who is showing as 'holding' the debt?

 

moved this to the cra forum


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Thanks for moving the thread.

 

The CRA file shows RBS as holding the debt.

 

A DCA tried to lodge a file however having used the information on here to maintain I was in dispute with the account Experian accepted this and it didnt show.

 

It defaulted about 2 months ago but after supplying all the copies of correspondance about questioning the account

and noting it in default it got removed. (again due to information on this site!!!!)

 

My experian file was updated TODAY to show that the RBS amount has been settled against the outstanding £11k.

 

The wording of my F&F letter the solicitor wrote was along the lines of accept this payment,

cash it and you accept that this fulfills my obligation and the debt cannot be chased for in the future,

nor can it be sold onto a DCA, and that the CRA are to be informed within 21 days of clearing payment

to ensure that the agreement for accepting payment is maintained.

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