Link Financial Outsourcing / Ford Credit Europe - Car Repossession

[mjg1989]

Hi, I am hoping someone can help me out here.

 

I bought a Ford Focus in December 2008 on a Hire purchase agreement.

 

Unfortunately due to some personal circumstances and a bad time in business, I fell behind on my repayments and my debt was sold to Link Financial Outsourcing (LFO) in January 2012.

 

This means I had repaid more than two thirds of the debt and so LFO would need a court order to repossess my car.

 

I rely heavily on my car for work (I run a software consulting firm) and so rang LFO to see if they would accept a repayment plan on a monthly basis

but I was informed this was not possible and I had 6 weeks to repay all the money.

Rather stupidly I said, this was something I could do but the payment date has been and gone and I have not paid.

 

Today I received a letter (Dated May10th) explaining they were now issuing court proceedings against me

and I had to contact them within 48hrs to prevent it happening.

 

I've tried calling but to no avail. As today is the 15th, I presume they have already set the wheels in motion.

 

My question is;

what is the process here?

Am I right in thinking that they will try to take out a CCJ against me and that I will then have 28 days to pay this, before the baliffs come calling?

Or have I got that completely wrong.

 

I can lay my hands on this money by the end of June (I owe £2,531.86) and would be able to clear the debt in full,

but somehow I don't think LFO would accept this at this stage.

 

My Credit Report is completely shot anyway so at this point I am not too bothered about getting a CCJ

(I already have one from a failed business deal) which was filed recently so either way it's going to be 6 years before it starts to repair.

 

I would be really grateful if someone could please explain the process that LFO are now going to go through

and how much time I have realistically to pay the outstanding debt off.

 

I'd be thankful for any information you can give me.

 

Please ask for any more information you need.

 

Many Thanks,

Matt

Edited May 15, 2012 by mjg1989
Couple of typos!

[batman1956]

Have a read around similar threads on the forum.

Try to glean what knowledge you can.

 

First things first DO NOT PHONE LINK UNDER ANY CIRCUMSTANCES.

 

Make your offer to them in writing and get a proof of delivery,

make sure that you can comfortably afford to pay what you offer,

in my opinion you should not say that you will pay it off in one go.

 

Should they then issue proceedings you will have demonstrated a willingness to pay.

 

I am sure that others will be along soon and you will get more advice.

[sequenci]

Hello there,

 

If you still have the vehicle the application they are making is known as a 'return of goods order'. This is a request to the court for an order to be made allowing the creditor to take the vehicle back.

You can prevent the car going in two ways:

 

a) you can make reply on the form offering to pay the regular instalment + a little bit extra each month (thus reducing the balance over an affordable period) or offering the lump-sum once you get it

b) asking the court to make a 'time order', these are a little bit more involved and best explained within the following fact sheet:

 

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=06_time_orders

 

if you need any further assistance reply on here, we'll pick it up

[dx100uk]

i would sar the OC.

 

there appear to be some reason why they have sold this on.

 

else they would have done the chasing etc themselves.

 

there is a reason this is a lemon.

 

poss PENALTY charges

or

PPI

 

both can b reclaimed,

 

and you also need to look at 'other' insurance that they made you take out too.

if you have the agreement still please post it up

 

and get that SAR off ASAP.

 

 

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

.

ENSURE: remove all pers info inc barcodes etc using paint program

but leave all figures and dates.

.

goto one of the many free online pdf converter websites

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

.

dx

[mjg1989]

Thanks for the all the replies.

 

I'll dig the original agreement up when I get home and post it on here.

 

I believe it was sold on as I was sent a Default Notice from FCE for £394 at Christmas which I unfortunately failed to pay. LFO then picked the debt up.

 

Am I right in thinking that once I get the Return of Goods order, there will be an option for me to offer a monthly repayment?

I can get access to the full amount, but if it were possible to spread that out over a few months that would be great.

 

Would LFO insisting I pay the full balance within 6 weeks of my original call be bully tactic in order to get their money faster?

 

Thanks again.

[sequenci]

Hi again, you will be able to either pay monthly + a tiny bit extra or consider a time order - which could allow a lower payment for a temporary period if it is felt by the court to be fair on both parties.

 

And, yes, they are being a little bullish!

[mjg1989]

Thanks for clarifying Sequenci. Just one question. When you say "pay monthly & a tiny bit extra", do you mean pay the original monthly payment (£168) and a little bit on top?

[sequenci]

Thanks for clarifying Sequenci. Just one question. When you say "pay monthly & a tiny bit extra", do you mean pay the original monthly payment (£168) and a little bit on top?

 

Absolutely. The more you can manage the better; an extra £50 usually seems to go down quite well.

 

Print off the following fact sheet, it's useful!

 

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=16_hire_purchase_debt

[mjg1989]

Thanks Sequenci, that link was great and explained it all to me. I feel much better now knowing there is the option of continuing with a monthly repayment instead of having to pay it all in one go. Really appreciate your help

[sequenci]

No worries, once you get the form through drop me a line, I'll talk you through it all

[mjg1989]

I will do, thanks so much.