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Looking for kind help from the many users of this forum, as any information can be of great assistance and help.

'Brief' into..

Car finance taken out in Sept/2007 vis CarCraft and 'Ucan' car credit. To this day I still do not know how/why my agreement paperwork and policy schedule is with Welcome Finance!

Agreement over 48months

Add-On's were Mechanical breakdown over 24month & Shortfall Extra (GAP) over full 48mths

Through redundancy last year I hit financial problems and made a couple of monthly reduced payments with their agreement! Then last year missed a couple of payments and fearing that that would step in first, as they were threatening within the officious telephone calls,I exercised my right to Voluntary Termination on Dec 21st 2009, knowing I was close, even very close to having paid 50%.

Heard nothing until Saturday 2nd Jan 2010 when a default notice arrived, sent first class though dated 25th Dec 2009 and expiring on 7th Jan 2010 under the 14day ruling.

Contacting them I was advised that although my recorded/special delivery letter was indeed signed for and logged into their records at 8am on the 22nd Dec 2009 it had never been received at the VT department!

Anyway....this was reolved by 'another' letter and the time issue being irradicated.

I have now received my acknowledgement letter, where they have even spelt my name wrong, plus the calculations from their VT team and it states the following (rounded figures to prevent an easy match)....

50% due for goods 6900.00 Paid for goods 6750.00 due 150.00

50% due for ins's 1220.00 Paid for ins's 600.00 due 620.00

Arrears on A/C 1,000.00

Total due 1620.00

*Figures dont add up due to my 'hiding' the real onbes, but in summary the figure requested is the insurance shortfall plus the arrears as they are greater than the shortfall to 50% of the goods.

My concerns/questions, given I have no funds currently having not worked for months are....

1)Do arrears count and have to be cleared under VT

2)Do I and why have to pay the balance due upto 50% of the insurances

There are no charges for doccuments, no inspection fee and I have already been contacted by the contractors who will be collecting the vehicle....they would have done so by now already were it not for the weather conditions here.

3)Will they still collect without the 1620.00 being paid (no contact over it)

4)What happens once they have collected it

5)Anything I should or must do first

 

Any/all assistance will be most welcome, not as torrid a tale as many have but my tale none the less and tharts why I would still truely value feedback, help and support.

Thank You

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As far as im aware, you would only be liable for any outstanding amounts up to the 50% limited, but they will also try to get you on the charges they would of no doubt added to to your account on the late or reduced payments, plus the letters and phone calls they would have sent you.

 

Firstly, I would check whether you have your insurance documents for the Mech breakdown and shortfall. did you get them when you purchased the car? Also might be worth reclaiming the Mech breakdown if you havent used it as in my opinion it is mis sold. 24 mths cover on a 48 month agreement?

 

in addition ask them for an up to date statement too.

 

I would be interested to see if they accept VT as I may do mine in 3 months when I have reached 24 mths.

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