Private & Commercial Finance threaten to take car!

[Al88]

I took out car finance with a company called Private & Commercial Finance in October 2007 paid my first payment of £211.76 in the January 2008 and the agreement is for 5 years so will end in December 2012, but last year I was having a bit of difficulty with my finances and Private & Commercial said they would reduce the payments by £50 a month for 9 months to help me with the arrears and get myself back on track then in November I cancelled the DD because I knew there wasn't going to be enough funds for the payment (increased).

 

So I have missed November, December, January and Feb payments But in January a collector come to my door to reposes the car yet now says he wants to come to an arrangement!. My cousin said she would pay the missed payments of £795.28 but not the £85 charge for the guy to knock on my door so I tell the collector guy they refuses to give me his company name and he wants my cousin to give him her credit card details over the phone from his mobile may I add, so I told him I would be paying it tomorrow this was on the 17th feb so on the 18th I ring up to pay the amount over due and the company tell me that I can't pay by credit card even though they all knew I was paying on my cousins credit card I could only pay by cash or debit card because of OFT rules, I have looked and can't see anything on the OFT about this but now they are taking me to court for the vehicle to be repossessed?

 

Can anybody help with this?

 

this is the email about the FSA

 

I am afraid we cannot accept a credit card payment on your account at this present time due to the FSA rule of using a credit card to pay another credit agreement more than 7 days in arrears.

 

We would have accepted this form of payment if you were merely paying an instalment that was due within a 7 day period of the billing date. As your arrears is 109 days in arrears, it is impossible to accept a credit card payment on the account.

 

Can you please withdraw the cash and pay into our Barclays Bank Account details below

[dx100uk]

i would think you have more than one unlawful fee and p'haps ppi to reclaim?

 

and you need to look on your agreement, i bet you've already passed the point where they can repro without a court order.

 

p.s no car repro man HAS ANY LEGAL POWERS to seize or charge ANYTHING.

 

dx

[Al88]

they are saying if I don't pay the amount in arrears by Monday then they could apply for a bankruptcy order in accordance with the “enterprise act 2002” and seize the vechile because I am late I wanted to pay it in full but am unable to understand why I couldn't on the credit card? does anybody know anything about this I only owe £6,000 and the arrears are £900

[dx100uk]

urm

 

i'd take that with a pinch of salt

 

they will threaten all sorts to extract their pound of flesh.

if they dont say it in writing without if. buts and maybes

 

what does your agreement say at which point the car becomes almost 'yours' stopping repro? without a court order

 

dx

[Gaston Grimsdyke]

Sounds like they have issued court proceedings seeking a delivery order. The court has the power to suspend any delivery order on payment terms. If you are in a position to pay the missing instalments now and the remaining instalments going forward, make that offer on the forms you were sent by the court. Undoubtedly the court will make a suspended order. In fact, the finance co would be very unlikely to resist it. All you need to do is make sure you make the payments as ordered by the court as otherwise they can repo the car without your assistance.