Welcome Car Finance - Terminated Agreement- Help needed

[jglasgow82]

Hi Everyone, I received a Default notice on the 30/01/2010 advising me that I had 14 days of the above date to pay the outstanding arrears of 428.01, Which I have been unable to pay at least until thursday 25/02/2010 which I stupidly thought would be ok, Today I received another letter telling me that "Without Prejudice" that in order for them to protects their interests that they have terminated my agreement and that I must pay the outstanding balance of £7935.44 I am not able to pay this full balance and really cant lose my car, is there anything I can do??the total amount payable under agrrent on the default notice is£10489.92 and I have paid a total of £1538.85, any advice on this would be greatly appreciated, Thank you

[ozzywizard]

Welcome to the forum, we will help you best we can but the first thing is not to panic, these ppl are experts in bullying and intimidating you into paying what you cannot afford, do not allow this.

 

First thing is do you have a copy of your agreement you can post up here for us to check ?

Does the default notice state a numeric date or just pay in 14 days ? , can you post up the defualt notice as we need to check a few other things.

 

Do not worry about the letter headed without prejudice, it is a tool that is not enforceable and cannot be used in court designed to scare you . . . any letter headed with that is not serious.

 

when did you take the loan, how much and under what term and have you paid back over a third. . . .

[jglasgow82]

Hi Ozzy thank you for your quick reply, I do have the original aggreement and default notice, I wont be able to scan them til monday though and will get them posted, I could if you wanted type the Default notice into this post just now, I originally took out the car in oct 2008 but the car was changed for another car in feb 2009 as the original car developed a fault which could not be repaired and they kept me under my original agreement, On the default notice it just says 14 day from this notice.

[ozzywizard]

Ok if you could get them both posted on Monday that would be great. .

 

Maybe somone else can also advise on this thread before then ..

[jglasgow82]

Here is the Default notice

IMPORTANT - YOU SHOULD READ THIS CAREFULLY

DEFAULT NOTICE

Served Under Section 87(1) of the Consumer Credit Act 1974

Date: 30 January 2010

Hire Purchase Agreement No. 3******

between Mr John Glasgow of 108, ********, *********, fk* ***

and WELCOME FINANCE of Ocklea House, 21 Wellside Place, Falkirk, FK1 5RL

 

We refer to the above Agreement which you have entered into with us. The terms and conditions provide that you must pay each monthly installment in full on its due date. You are in breach because you have failed to pay the contractual installments.

 

To remedy the breach you must pay to us the total arrears of £428.01 within fourteen (14) days.

 

IF THE ACTION REQUIRED BY THIS NOTICE IS TAKEN BEFORE THE DATE SHOWN NO FURTHER ENFORCEMENT ACTION WILL BE TAKEN IN RESPECT OF THIS BREACH

IF YOU DO NOT TAKE THE ACTION REQUIRED BY THIS NOTICE BEFORE THE DATE SHOWN THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU (OR A SURETY).

 

FURTHER ACTION:

 

On or after 14 days from the date of this notice, we may terminate the agreement, enforce our right to recover possession of the goods and/or require payment of the outstanding balance, less rebate allowable as set out below. We may also require you to deliver up the goods to us, or apply for an attachment/Arrestment of Earnings.

 

BUT IF YOU HAVE PAID AT LEAST ONE THIRD OF THE TOTAL AMOUNT PAYABLE UNDER THE AGREEMENT SET BELOW (OR ANY INSTALLATION CHARGE PLUS ONE THIRD OF THE REST OF THE AMOUNTPAYABLE), WE MAY NOT TAKE BACK THE GOODS AGAINST YOUR WISHES UNLESS WE GET A COURT ORDER. (IN SCOTLAND, WE MAY NEED TO GET A COURT ORDER AT ANY TIME). IF WE DO TAKE THEM WITHOUT YOUR CONSENT OR A COURT ORDER YOU HAVE THE RIGHT TO GET LL THE MONEY YOU HAVE PAID UNDER THE AGREEMENT SET BELOW.

 

You have the right to end this Agreement at any time before the final payment falls due. Note that this right may be lost if you do not act before the date shown (aftyer which we may take action). If the date for the final payment has not passed and you wish to end this agreement, you should write to the person to whom you make your payments. You will need to pay £7935.44 if you wish to end this agreement by the date shown and we will be entitled to the return of the goods. You will also be liable for the costs if you have not taken reasonable care of the goods. Note that if you end this agreement, this will not necessarily terminate any insurance finance agreements that are linked to this agreement.

 

Total amount payable under this agreement : £10489.92

Total amount that you have paid by the date of the giving of this notice £1538.85

 

PAYMENTS TO BE MADE:

Outstanding balance under this agreement £9010.90

Rebate of Acceptable Fee and Credit Charges * (£0.00)

Rebateof insurance (£0.00)

Rebate of interest (£1075.46)

Total amount to be Paid £7935.44

 

*Rebate is calculated on the assumption that payment is made on the date shown and will be revised if paymet in full is not made on that date.

 

IF YOU HAVE DIFFICULTY IN PAYING ANY SUM OWNING UNDER THE AGREEMENT OR TAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLY TO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU OR ANY SURETY MORE TIME.

 

IF YOU ARE NOT SURE WHAT TO DO, YOU SHOULD GET HELP AS SOON AS POSSIBLE. FOR EXAMPLE, YOU SHOULD CONT A SOLICITOR, YOU LOCAL TRADING STANDARDS DEPARTMENT OR YOU NEAREST CITIZENS' ADVICE BUREAU.

 

This notice should include a copy of the current Office of Fair Trading information sheet on default. This contains important information about you rights and for your rights and where to go for support and advice. If it is not included, then you should contact us to get one.

[ozzywizard]

You didnt seriously type all that out did you lol ?

 

It does not have a numerical date which it should have.

[beyondhope]

Hi jglasgow without seeing your agreement and any faults it may hold we are in the same boat....have a read of this thread

 

Invalid Default Notices - Page 72 - The Consumer Forums

 

dont go back to the beginning just have a read from that page Any questions post them here and someone will be along to answer them

[czt21r]

Hi I really need some help urgently. In short in Oct 2007 I took out HP with Welcome finance for a car. I took out Mechanical Breakdown (MB) with this as the sales advisor stated that I would not be granted credit without this added on. The car fell into difficulties and we tried to claim on the MB on several occasions without any luck. I logged a formal complaint with Welcome head office in Oct 2009 after the car failed its MOT. The complaint ran and ran and I was passed from pillar to post, I ceased payments until a suitable resolution was made and the case is now with the FOS. I have missed 4 payments and have been issued with a default notice followed by a termination letter and the balance is due in full, even tho pymts were held as the case was with FOS???? I have paid +5k off the £8830 starting balance and only have £3300 left to pay with 15 months on the term. I need help as they have threatend to take my car away and after pay 5k I am not giving up without a fight!

Edited August 19, 2010 by czt21r
error

[wannabedebtfreesoon]

Hi I really need some help urgently. In short in Oct 2007 I took out HP with Welcome finance for a car. I took out Mechanical Breakdown (MB) with this as the sales advisor stated that I would not be granted credit without this added on. The car fell into difficulties and we tried to claim on the MB on several occasions without any luck. I logged a formal complaint with Welcome head office in Oct 2009 after the car failed its MOT. The complaint ran and ran and I was passed from pillar to post, I ceased payments until a suitable resolution was made and the case is now with the FOS. I have missed 4 payments and have been issued with a default notice followed by a termination letter and the balance is due in full, even tho pymts were held as the case was with FOS???? I have paid +5k off the £8830 starting balance and only have £3300 left to pay with 15 months on the term. I need help as they have threatend to take my car away and after pay 5k I am not giving up without a fight!

As you have paid more than a third they cannot repossess your car without a court order, best thing would be start your own thread. You can post in either the Welcome Forum or the Vehicle Repossessions Forum. The links will take you to the 'start a new thread' page