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Lloyds TSB Carselect - PCP Agreement in Arrears

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Hi there,


I am currently in arrears by 9 months of a PCP agreement with Carselect. This PCP agreement was provided for £5000 towards a Ford KA. I received this agreement under staff terms as I work for the Lloyds Banking Group.


Currently, all I receive on a monthly basis is a Default Notice. I have received no demand for payment or threat of collection. Considering 9 months arrears, I was expecting to see the car lifted by now and/or my backside in court.


I know I should contact Carselect regarding the debt but since they have shown no interest in pursuing the debt I've not really been motivated in doing anything.


My current situation is:

24 of 37 payments have been met fine.

I am currently 9, soon to be 10 payments in arrears.

The agreement is due to finish on the 6th January 2011.




I would like to:

  • Settle the debt in full including a raffle of defaults on the account.
  • Keep the car.

Therefore my questions are:

  • Since I am two of my three years into my agreement paid, is this the reason they are not pursuing the debt, is the amount remedial compaired to other accounts? Is it because I'm staff? Surely not!
  • What are the chances of me getting an agreement to settle the account whilst keeping the car, whilst the account is in arrears?
  • My Girlfriend has just recently come into a decent promotion, which could mean buying the car outright. The arrears are my fault therefore I would like to settle these seperately, would Carselect let my Girlfriend buy the car outright and let me paid the arrears off?

You all seem a pretty savvy bunch, therefore any advice would be greatly appreciated.





Edited by hoolieco
My spelling is shocking sometimes.

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Hi Jamie


Welcome to CAG


I would sort the matter out PDQ, what do your terms and conditions of employment state with regards to potential CCJ's?

The guys will offer advice shortly.

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