Car collections threat from Welcome finance, help!

[Dmliverpool]

Hi I am new to this site, so hello everyone.

 

I have a HP car with Welcome Finance. I haven't paid them since November 2010, which says it all. I was laid off and havent got back into work yet (although I have now had 3 interviews last week and I know I will be in work by the end of this month, fingers crossed).

 

In January they sent me a bogus default letter with no actual date on it as they always do.

 

I said to them constantly that I will clear the arrears as soon as I am in work etc.

 

It's a 12k agreement and I have £6k left to pay. Last week they called me and said that I should give them back the car as I have not paid in nearly 5 months and that they are losing value on the car.

 

They also said how they will hold my account until the end of march and then they will start the collection process to terminate my account.

 

I love my car and I will likely need it to work. What should I do considering I have paid so much into it?

 

I know its a common story but its a dilemma. All my family members are saying get rid and only pay them £10 a month for the next 50-60 years, I am conscious now that my good credit is now dead:mad2: Feel bad as I have acted with too little too late..

 

My head and heart is saying give this car back its only a car but is there anything I can do to hold them off? When I spoke to them it was like they wanted me to VT and give the car back. But as I indicated I wanted an end to this debacle, they sounded disappointed, I guess this was because they now know I wont be giving them more money etc.. haha..

 

My agreement will finish next year (Oct 2012).

 

P.S I am about to be awarded a PPI claim against them anyway (before you ask it will only be peanuts compared to what I owe.)

 

Any bits of advice would help. Many thanks.

[Ell-enn]

When you start work would you be able to make the monthly payments plus something towards the arrears?

 

As you have paid half the balance of the agreement they would have to take you to court to get the car back, at that point you could defend and ask the judge to agree to you making monthy payments + something towards the arrears.

[Dmliverpool]

I have paid about £2-300 under the half way mark after checking a statement. If this was to happen how long would a court give me to pay.

 

It is likely I can pay them next month, but there is the other half of me thinking the car is not worth it, if you know what I mean. I just dont want to live a fantasy. I also dont want the car to go at auction for about £2k then still owe £4k.

 

Either way I will never get a hp car every again not without getting the car then putting over 50% down in a lump sum making it hard to lose.

 

Whats the minimum about that has to be paid in which they would have to take you to court after a broken default that is farcical any way as it has no date on it?

[Dmliverpool]

Yes I would be able to pay if in work, fingers crossed for next week!!!

[Ell-enn]

Hi, have a look at your HP agreement - it should give you the figure you need to have paid for them to have to get a court order - should be one third.

[Dmliverpool]

Oh I didn't know that you can just reduce the payments they made out to mr they were taking the car. I thought what's the point. Yeah you are right about them falling apart and I think they will hit the wall in a year especially with the backdated ppi claim now being managed by the Fscs in their offices lol. They have also posted so defaults of sister companies via cargoes with by what I can gather is an empty office front with a phone plugged into the wall. I actually won my ppi case so I suggest you and all others out there make there sorry existence even worse by claiming now before a major court case holding claims as with bank charges. I put my ppi refund on the current payment so the sector is paying for their existence.

 

I will get mine reduced to spread it another six months they can moan or try take me to court I have paid over half now any way ha ha.

 

Please can you post that email address? I don't think I will make much of a plea as everyone knows they just need at least token payments so I will dominate any correspondence I make which will put me in a good place with for once.

 

Companies like them should be shut down, another tip is to tell them you are recording calls, it gets you a manager on the line.

[Dmliverpool]

Sorry that company I mentioned is called cattles my spell correct on my phone was typing for me.