Question on Welscum & Lewis Group

[Sodem Hall]

I have just been made redundant and cant afford the payments on car loan, I was served a default nottice last month and my question is this:-

 

I am hoping obviously that welcome send the boys round and repo the car (I have paid about a grand more than a third), but are they able to just pass the debt to lewis group who chaise me forever or do they have to go down the repo or court order route.

 

If they can just pass debt to lewis group does this mean that the HP agreement becomes null and void and I can sell the car and offer this sum as final settlement.

 

Thanks

[diamondgirl]

Hi

Sorry to see you've been made redundant - it happened to me last year but fortunately I managed to get another although not for a couple of months.

 

Yep they can pass it on to whoever they wish, they mainly do this as a collector has more time and monkeys to keep ringing you.

 

Why not cca them - just gives you more breathing space.

 

On the HP front I really don't know as its never happened to me but I know there will be plenty of caggers who it has happened to who should hopefully be along later to give you the advice you need.

 

DG

[Sodem Hall]

Thanks

 

I'm just curious whether they can pass an HP agreement on or whether it then becomes a personal debt.

 

Thanks

[Major Player]

Hi, generally Welcome won't pass on a debt to the Lewis group unless it is unsecured - in other words if they take the car back then they will pursue for the remaining balance if the car doesn't fetch the value of your loan at auction. if you still have the car then it will be Welcome who you deal with, however with all thats going on with the company this may change.

 

You say you were made redundant, sorry to hear that, do you know if you took out PPI cover, this could be one of the rare occaisions that it may pay out!

[ozzywizard]

Sodem, send the CCA letter, just so you can check things over.

 

Send following letter edited to suit. this will buy yu some time to decide what action to take.

 

Dear Sir/Madam

 

Re account number : 1234567

 

 

We are writing to inform you that we are seeking advice and assistance regarding our current financial difficulties caused by my redundancy and now being in a jobseekers position.

 

To this end, we would appreciate if you could hold any action on the above account for a period of at least 6 mnonths.

 

Also, during this period, could you please freeze interest and/or any other charges accruing on the above account.

 

In view of our circumstances, please would you agree to accept a reduced offer of £100 per month.

 

Should our circumstances improve we will contact you again.

 

 

We look forward to hearing from you as soon as possible.

 

Yours faithfully

[Sodem Hall]

Thanks for the advice, didnt take out PPI because heard stories of it never paying out. Took mechanical insurance on car which also didnt pay out when the engine blew up and it cost me 1200 to repair. If i offer lower payments will they not try to re-write the loan and load on more charges and interest?.

[Major Player]

Ozzys letter is a two parter and reall excellent, you would be asking for interest to be frozen and then make payments of £100.

 

That would mean that they shouldn't (Say shouldn't but have seen enough to know that it still could happen) try to rewrite the loan and lump on the interest and insurances etc. By having a zero interest rate it means that you would be reducing the balance outstanding down with 100% of your payment, which in your position is better than they should be getting so should be grateful for this.

 

Although to be honest if they rewrote your agreement at 0% interest it wouldn't be the worst thing that could happen

[ozzywizard]

They can ask you but you have the right to refuse, this is not what you are asking in your letter.