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car finance help


minnimes
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not sure if this is the right place to post ,feel free to move it.

need some advise, ive been asked to post about car finance probs, long story short, my mums partner had a car on finance, he returned the car after he had paid over half the balance, he was late on afew payments at some point. the car was accepted by the company (not sure who) and sold at a loss of the loan balance. it stated that the car could be returned after paying half the balance and no debt would be out standing. anyway there was a short fall of £600, the company have now come back for this money, can they do this? the car was returned 2 yrs ago. feel free to ask for more info and i will try to get what you need.

:rolleyes::confused::rolleyes::confused:
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To be able to do a VT (voluntary termination) he should have paid half of the agreement plus any arrears owing at the time of the VT.

 

Have a read here http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/16328-hp-voluntary-termination-few.html#post125898

Edited by Nagasis
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  • 4 weeks later...

its not welcome, its something called gateway credit. got some more info. he handed the car back and was told that was that, he owed nothing. long storey short it recently came about that he had arrears on the account of around £700. he sent a cca request and they sent an agreement back. it has ppi added to it which he didnt know about. was wondering if i can send a letter saying he wants to claim it back and that this will be a full and final settlement against the arrears, which have now grown to almost £2000 after charges. any ideas?

:rolleyes::confused::rolleyes::confused:
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just to add they collected the car from him after a convo on the phone about returning the car. he was given a piece of paper saying the car had been collected. hes going to double check what he has from them but as far as he knows thats all he got. also he had paid well over half of the loan, the car was then sold.

:rolleyes::confused::rolleyes::confused:
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