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GAP Insurance shortfall alledgedly


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Hi in 2004 my wife bought a car on finance worth 8,000. The vehicle was stolen two years later and was burnt out. At the time we took additional gap insurance out on it. The insurance paid out to the finance company the book value of the vehicle which then apparently left a shortfall in the finance. Expecting the gap insurance to kick in we were horrified to find that it didn't cover all the finacial costs of the vehicle and left us still owing 4,000. We refused to pay and asked for information relating to the gap insurance to be forwarded to us. In the meantime the vehicle financers...online finance....when to Nottingham County Court and got an order placed on our home that if we sold the home we had to pay this outstanding amount. We contacted the court and asked why we hadn't be contacted to provide a defence to this. They claimed information was sent to us. In January of this year I contacted MS Portfolio who apparently are holding the debt to request copies of the orginal CCA that i have been trying to get hold of now for 4 years. They said they would forward this information to us. Two days ago a bailiff from Warrington County Court has turned up at our address to serve papers on us in relation to this debt.....as apparently it is now with Mortimer Clarke.....HELP!!!!!!!!!!....what do we do next?

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if you think you have a good claim to the action against you by the finance company then you can apply for set-aside.

 

In order to get set-aside you would have to show that there was a good reason why you hadn't filed a defence and fought the case. You would also have to show that there is a good chance that you would win if you are allowed to defend. This second part is the most important. According to your story you satisfy the first requirement quite easily. If they haven't supplied a CCA and you have written evidence to show that you have been trying to obtain this for four years then this would be a good basis for saying that the debt is unenforceable against you.

 

What you don't do here is gives any details of the dates any of this has happened. It is really very difficult to understand your story when the whole thing is really just lumped together.

 

You also don't give any idea of the value of the charge that was put on your property or of the outstanding debt that they are trying to recover from you now.

 

It would also be useful to know whether the outstanding debt which they are trying to recover from you now includes any charges for late payments etc and if so how much

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The amount they are requesting is for £4835.81 and is by way of an attachment of earnings order though they have not officially served this order on my wife as she was not in at the time. We do not know whether the amount includes any charges. As you can appreciate we have found it very difficult to get any information at all from MFS portfolio or Mortimer Clarke.

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It would appear from my understanding that MFS portfolio have sold the debt maybe to Mortimer Clarke and they are trying to get a different way of getting the money from us......just a thought....

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  • 3 months later...

Hi

Welcome to The Consumer Action Group.

 

 

I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.

 

Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.

 

 

Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.

 

It can be bit confusing at first.

Please be advised that my time will be limited for the next few weeks.Thanks for your understanding.

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