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jojogirly

Confused about car repossession?

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We bought a car on hire purchase when we were in a much better financial position. When our position changed we could no longer afford it and the company took us to court to repossess.

 

They then referred it to a debt collection company who we had to deal with. They allowed us to keep the car on reduced payments, which as time went on we still struggled to meet.

 

So we asked them if we could sell the car to clear the debt in full. They said no we could not do this. So we thought we would wait for the enevitable - which months and months on has not happened.

 

So we decided to sell and get whoever buys to pay the debt collection people directly - The thing is whenever we go to a dealer etc to sell they say there is no outstanding finance on the car. So we have not sold it as we are quite confused.

 

We HPI'd it ourself and it still says no finance. I dont understand - can I sell it and clear the debt???? Any ideas. Thanks :)

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What Agreement Do You Have

 

It Seems To Be

 

Fixed Sum Loan Agreement

 

Do You Still Have The Original Agreement

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How long ago was the court claim? was there a CCJ registered or did you just get to keep the car on reduced payments without a CCJ?

 

If you sell the car will you get enough to clear the balance?


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I have no idea what the agreement was, we put a large deposit, paid for 4 years and then a balloon payment at the end (in theory)

 

I will try and dig up the agreement - should still have.

 

The claim for repossesion was middle of last year - there is no CCJ on hubbys credit record for it.

 

If we sell we should have £2000 - £3000 left after paying off the balance

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The Agreement Is The Key

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Can you also have a look at the court order you would have received after the hearing and let us know exactly what is says.


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Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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Right ok - just had a good look and found the agreement.

 

Its a hire purchase agreement: Dont know what exactly to look for though

 

Interest is charged at the effective rate of interest. Interest is charged at the outset of the agreement, initially on the amount of credit (the balance of which will reduce every month) Dont know what else to look for??

 

Found the court order which was actually in June 2008 - no idea it had been that long. It says basically that the defendant must return the goods immediately - No mention of making an agreement

 

Thank you both so much

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I Need To See This Agreement

 

Deleate Personal Details And Google Photobucket To Post

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Trying to do this right now. Thanks

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I thought the court order was for reduced payments? is there an outstanding balance mentioned on the order?


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Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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No the reduced payments were from the debt company who agreed this with us directly - although the court order doesnt show on his credit report.

 

The outstanding balance at the time of the order was just over 17000

 

The balance now is 9500. Value of the car is between 11500 and 12500 depending on where it is sold.

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Ok hope this works - This is the agreement.

 

audi1.jpg

 

audi2.jpg

 

audi3.jpg

 

audi4.jpg

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How Many Payments Had You Made On The Agreement Before This Went To Court

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It was either 21 or 22. Thanks

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any ideas on whether or not I can sell the car to cover the finance and why it doesnt show up on hpi as having finance?

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