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Advantage Finance - HP Car failed after 1yrs - still paying - HELP


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Hi all,

Not too sure if I posted this in right section, so please accept my appologies.

 

I purchased a car back in 2009 with the help of Advantage Finance.

This consisted of the following:

Amount of Credit: 2825.00 over 48mths @ 47.35%

Total Amount Payable: £5646.20

PLUS

Mech Break Down Cover (3yr): £745.00

GAP Finance Protection (48mth): £495.00

1240 over 48mths @ 22%

Total Amount Payable: £2331.36

 

So Total amount was £7977

 

Now the problem I had was that the engine seized (AA Breakdown guy came out to me end of 2010) and I have not had use of this car since - the cost of repair/reconditioned was in excess of £1500 of which I do not have due to being out of work.

 

They initially told me that I could claim through the Mech Break Down - so I enquired, It would cost me £300 for a Diagnostic (which I would have to pay for myself) to tell me that the Engine was seized. On top of this the Mech Breakdown would only cover for upto £500 for Labour & Parts NOT the Diagnostic. So the car has sat on my parents drive since.

 

Due to my circumstances I made an arrangement with Advantage to pay £20 pcm BUT out of this I am being charged £12 Collection Charge as well.

 

I can not scrap the car as I need written proof from an Approved Mechanic (due to the Mech Breakdown Policy) that the repair would cost me over £1500. But again thats going to cost me £300 for the privilage, which I do not have.

 

The Current Balance is £5500 Arrears is £1300.

Other info: Termination Rights £2823.10. Repossesion Rights £1970.07

Early Repayment Calculations: (based on if loan was £1000)

12mths £862.36

24mths £667.40

36mths £391.24

 

Im at a loss to what to do, the car needs to come off the drive - Can I scrap it without Advantage's say so? What options do I have available to me.. The car if it was in a running state is only worth about £700 if that.

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Hello again Ads I'll see if anyone can advise.

Brig.

 

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Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Absolutely Booming as you will my user names gone orange a great honour!!!!!

As it's around nosebag time someone with experience in the HP/cars area wil

I'm sure be along to help.

Brig.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Paying by VisaElectron and from reading the Notification Of Charges statement they sent through its a late payment charge...

As for T&C's on cover they really not worth the paper they were written on.. Could transfer to an other vehcle at cost but thats pointless.

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That is true any variation from the contractual payment either

the frequency of or the amount required can be registered as

a default.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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That is true any variation from the contractual payment either

the frequency of or the amount required can be registered as

a default.

 

It may be registered as a default - but if they agree to accept a new payment schedule due to a change in circumstances, can they then claim the payments are late - when only the amount has changed - with their agreement.

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Yeha they can I did try before - I just want to know leagly what are my other options - can I scrap the car? can I sell it as spares/repair can I do anything to get out of the agreement.

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Unfortunately yes the variation of any part of the Ts &Cs regarding amount,

frequency etc. can be classes as a default '' arrangement to pay'' entries

can be as damaging if not more so as they do not expire after 6 years as

do defaults paid or not.

 

Brig.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Get someone to look at the breakdown insurance T&C's and see if they are giving you the run around on it.

 

You may be able to scrap/sell/Voluntarily terminate the agreement - but you will still be left with the debt - I would want to get the car fixed - on the insurance i took out for the purpose.

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you can reclaim ALL those charges

 

and get that useless insurance back under a reclaim too.

 

can i just check this IS an HP agreement [must state HP agreement across the top]

 

and the car is mentioned

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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opps went off

 

they are unlawful as they are a PENALTY.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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so thats £48.67 then every month

to put into this spready at least..

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

nice little reclaim there

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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more news later

bit busy

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

  • 1 month later...

Couple of weeks ago I had permission to scrap the car from advantage!!

This has now been done

 

this morning I was chased for the Scrappage certificate - which was fine.

 

The guy on the end of the phone then went on to say that he has reviewed my account thourghly

and has gone through my Credit Report and noticed that I am paying another loan and catalogues

and they are in order and stated that I am paying them more that what I have agreed to with them (£20pcm).

 

Hes now said that this is inadiquate and I should not be paying Advangtage any less than the others

and will be sending me out a Income & Expenditure (again)

and that if I do not comply they will seek further action as far as court action despite my account being in order (with teh £20pcm agreement).

 

Is he right in saying that I have agreed for them to periodically check my Credit Reports to see how much Im paying people?

and do I have to complete an income and exp, despite already being in an arrangement with them?

 

He was very abrupt to me which I could of done without,

and it seems just because the car was scrapped they are comming after me hard.

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