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I have been fighting a car finance company over mis-sold ppi for some time now and the point i have reached is this.

The finance company repaid the ppi premium as per an upheld complaint to the FOS but did not fully comply as they refused to restructure the outstanding balance of finance, as a result of this i refused to make any more payments to them until the situation was resolved.

The finance company then issued me with a statutory demand for around £3000 to which a replied by applying to the court for a set-aside and also agreed to hand back the car to offset as much of the outstanding debt as possible.

At the court hearing the finance company sent a local lawyer who immediatley asked for an adjournment pending the sale of the vehicle which the judge agreed to.

The car was sold at auction and the outstanding amount is now £1250 to which the finance company have added £250 costs from the court hearing ( even though no costs were applied for , or granted) and are refusing to withdraw the stat demand.

I have until the end of october to ask the court to to re consider the setaside or the case will be struck out so the question is , should i keep after the finance company through the court or will they actually attempt to bankrupt me for £1250.

Thanks.

Gavin

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I'm aware that they could, but would they for that amount ?, or would they simply pass it to a collection agent and hope to claw back anything they can by other channels.

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Could you give us some more info. about your circumstances. Job? House? etc...

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I am employed full time, i don't own my home and i have no savings.

I also have 4 dependants and own 2 fairly old cars.

Also to clarify, i'm not trying to avoid paying anyone but the finance company were in the wrong to begin with , hence the upheld complaint with the fos so i am fully prepared to go back to court, i'm just gauging opinion if its worth the effort and if it could be in the interests of the finance company to attempt to bankrupt me for just over a grand or if they would let it go to collection.

GDC.

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It's quite unusual for a company to threaten BR where the defendant has virtually no assets. It's a double edged sword really because BR fees are almost £500 if you declare yourself BR but much higher if a comapany does it. Might be worth writing to them explaining your situation (a rough outline will do, don't give them too much info).

 

Would your job or house be at risk if you were made BR?

"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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We are a long way beyond 'letters explaining', this has been ongoing for almost 3 years now and only came to a head when the company was forced to pay me almost £4000 in mis-sold ppi.

My house is a council house and i am a lorry driver by trade so bankruptcy would not make any real difference on that front, the finance company in question are persistent liars and use very suspect business methods so i'm not confident that they (or one employee in particular) would not attempt proceedings out of pure spite.

I'm confident that i have a very good case for set-aside and they have had the car back which should go towards the "fair offer of settlement " part of the stat demand but its another day off work and more time spent peparing a case and i have spent more than enough time arguing with these idiots, its just going round the houses all the time with the company refusing to finally admit they were wrong despite a fairly strong telling off from the FOS ( they attempted to re-write financial law) .

GDC

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I do understand your situation but the SD has to be taken seriously unless they contact you in WRITING to advise that they are discontinuing. Even then, I'd go for a wasted costs order against them but it's your choice.

"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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