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    • god they've got at you haven't they. told you all the usual utter BS. a CCJ vanishes from your credit file on it's 6th B'Day regardless to being paid off or not or paying or not. same with any debt with a registered defaulted date - it vanishes from your file on the DN's 6th B'day regardless. creditfix are Knightsbridge, (they renamed) there are 100's of threads here on Knightsbridge, if i remember rightly 2 of the directors of a certain very big IVA provider were struck off for embezzling £1m's out of debtors. pers i'd stop paying now.  end of . just ignore them all. 99% of your debts are to utterly powerless DCA's and probably were never owed in the first place only goes to firm up my belief from post one..you got had blind. its very easy to deal with the debts even those with CCJ's. can you copy and paste what you credit file says regarding the IVA please?   
    • Sorry I meant credit fix - I really wish I'd known this before - kicking myself right now  If they come back to me asking for more money I'll cancel it and start trying to deal with the debt myself let's see what they say  Feeling tempted to cancel it now but scared that some of the debts will do more CCJ's on me and I'll have to wait 6 years again.  2 of the CCJ come of this year and then I'll only have the iva in credit file - effectively if I'd have not took out the iva in 2021 I'd have clear score by now - but then again would I because I would have been hounded the last 3 years, as bad as it is it's saves me lots of headaches whilst my debt was still within the 6 year mark.  I think most of them are near there but in all honesty no point chasing them if I do cancel iva I'd jjst wait for the ones who contact me and then start the relevant letter process on them.  Of over 6 years easy if not still possible to write off. My true victory would be having the iva wiped off my credit file as mis sold or something that way I Don't have to wait till 2027 Other option is to fight back and ask for them to offer the creditors to accept payments so far and use the following method    Will your IVA firm agree to complete your IVA on the basic of funds paid to date? The Guidance lists a lot of factors to be considered in deciding whether a settlement on the basis of funds paid to date should be proposed. You should read the list. But that may not give you any feel for whether they apply to you or not. The following are my thoughts on when an IVA should be treated as settled, not failed. They assume that you have £75 or less to pay a month: if you would currently qualify for a Debt Relief Order, then your IVA should be settled now  There is no point in making your IVA fail and you have to apply for a DRO – it will not generate another penny for your creditors. If you are renting and owe less than £50,000, check the DRO criteria now and talk to National Debtline on 0808 808 4000 about whether you qualify. You may have been told at the start of your IVA that you aren’t eligible – still check now as the DRO criteria have changed, your situation has got worse, and some people were given incorrect information about DROs at the start. if you have no assets that would be realised in bankruptcy (eg a house with equity, car worth over £2000), then your IVA should be settled now Same as (1), there is no point in making you apply for bankruptcy after your IVA fails. if your only asset is a car that is worth less than £8000, then your IVA should be settled now A car that is worth say £5000 would normally be sold in bankruptcy and you would be given a small amount to buy a cheaper car. But your creditors would not get any benefit from this as the Insolvency Service takes the first £8000 raised to cover its own costs. if you have significant assets, the closer you are to the end of the IVA, the less reasonable it is to fail it If you have been paying your IVA for 4 years, you have done your best over a long period. It isn’t your fault you can no longer continue. The fact you may have had equity to release isn’t relevant as that simply isn’t going to be possible. if your situation will clearly improve soon, then it’s unlikely your IVA will be settled I mean real improvements, not hoping that prices fall. If I can get them to accept payment to date or threaten with cancellation hopefully they may accept it -  Other option is to try and borrow money and pay make a full and final offer  Or I can just ignore and hope for the best which I'm very tempted to do especially if they respond to my review with bullying tactics despite me being skint as a fart with no mortgage as renting  It's so stressful but I've just checked the iva agreement from 2021 and it's Cabot 2 accounts Lowell about 5 accounts and then lots of repeats of the same debt with for example zopa and Cabot same amount listed twice -  also loyyds banks but I'm sure that's older than 6 years and not on credit file anyway  If I can somehow remove the iva from my credit file I'd be happy 
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Approved Car Finance (ACF) reclaiming Motor Warranty ??


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Hi, I am looking for some advice and help.

In 2007 I purchased a Car from Approved Car Finance in Maidstone.

I brought a Ford Focus, which was supposed to be about £6,900 but with interest and finance etc, worked out to £301 a month over 62 months! I know I was silly to go to 1 of these places, but with a bad credit history and a young child, wanted a safe, modern, reliable car, so never really had much of a choice.

The total amout to pay back is well over £18,000 for a car that was worth £6,900.

I split with my partner early last year and have found the payments hard to make, obviously there were 2 incomes, Tax credits ect when I took out the finance for this, and since then I now just have my income, and increased outgoings as I now pay for my daughter + other expenses.

I have phoned Approved (The Funding Corp.) which supplied the finance to ask about reduced payments, but am told that the payments are set and they don't allow reduced payments, if i am late with a payment etc, i get phone calls etc, threating to reposses the car, within 14 -17 days, as the loan was secured on the car.

Basically I have paid off over £14,000 on this car and have on the last statement £4,700 to pay off. I don't want to loose the car as i might as well of chucked this money down the drain and need the car to get to see my daughter and for work etc.

What i would like to know is would they have to go to court to get a repossesion order and would a judge grant it, bearing in mind the amount paid off and owed? I have told them on many occasions, that it's not that i don't want to pay, it's a case of needing more time.

Also when i took out the car, I was lied to by the salesman and this has been proved in a compliant i made to The Funding Corp that they upheld, I was also sold an insurance for the car against M.O.T failure, Tyres etc, and was told it was for all the time i was paying for the car. When i came to use it because of a puncture in the side wall of a tyre, I found it only lasted for 3yrs and expired last year and that to qualify the car had to be serviced every 6000 miles at a main dealer, to have the service book stamped.

Had this been explained at the time, i would never of took this policy as I have a couple of friends that were mechanics that take care of my servicing etc, but don't actaully work in a garage so i never would of got the book stamped which would of made the policy worthless! Is there any company that would fight to get my money back on this policy? The insurances which i was told was mot and gaps, although on contract it doesn't state them seperate, just states insurance is £3,309. Also the contract doesn't show that i paid £20 deposit although i have paperwork from the actual branch at Maidstone showing i did. Also my contract was not signed on behalf of T.F.C until 23/5/07 when i actually signed and brought it on the 17/5/07

 

if anyone could help and point me in the right direction i would be grateful.

 

Sorry for the long questions!

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Hi there, is it a Hire Purchase Agreement you have ?

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Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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  • 1 month later...

Hi there,

 

Can anyone help me with regards to a Bill of Sale and problems with The Funding Corperation.

 

Please find attached what they have sent me when I requested a copy of the Bill of sale, It has no court stamp, not my full details as of name and address at the time etc of taking out the Car. I have tried to talk to them about reducing the payments but have got no joy and am told that if I don't pay the Full Amount each month they will Sieze the car, Despite paying £14,000 back of the £18,000.

 

 

Any help would be really gratefully recieved

scan0012.jpg

scan0012.pdf

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Hi Blakey.

 

The first attachment was too small to read and the other one has your name and address on so I've unapproved them. Can you post them again without the personal info please.:-)

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi Blakey.

 

The first attachment was too small to read and the other one has your name and address on so I've unapproved them. Can you post them again without the personal info please.:-)

 

 

 

sorry, not done this before so didn't realise, all sorted now and re-attached. would be grateful with some help on this as it is starting to stress me out. Despite explaining to them i had split with my partner, and that i now pay my ex £200+ child mantinence a month, they insist i have to pay the full £301 a month or they will take the car.

scan0012.pdf

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£301 is more than the amount on the BOS. Is that to cover some arrears?

 

The BOS doesn't mention £18,000 either.

 

I've moved your posts to your own thread and asked the site team if anyone can help further.

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi Blakey1971,

 

Although I am no expert I would suggest in the first instance you establish in which court your Bill of Sale was registered and obtain a certified copy to establish if it was registered in time?. If there is no Registered Bill of Sale then they would not have a legal instrument to seize the security if you have defaulted. Establish this first by going to court where your Bill of Sale was registered to get a true copy than post that on the forum with your personal details removed first. Is ,,,,, you at the bottom of the BOS you have already posted here you? If so, you may want to remove this info too.

 

sorry, not done this before so didn't realise, all sorted now and re-attached. would be grateful with some help on this as it is starting to stress me out. Despite explaining to them i had split with my partner, and that i now pay my ex £200+ child mantinence a month, they insist i have to pay the full £301 a month or they will take the car.
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Yeah forgot about name at bottom, I have sent them a letter asking for the registered copy of the bill of sale, no the £301 is my monthly payment, the contract has 2 or 3 different rates of interest, it says 21.98% or something on the actual loan for the car, 23.10% for the motor warrenty insurance i was mis-sold then mentions 39.9% a.p.r.

 

I have and am only £180 in arrears from last month and not gonna be able to make this months payment, yet they insist i pay them £100 a week until arrears are paid off, this is driving me to dispair as you can imagine, to loose something i have paid £14,000, i try to keep up with it, but would love to be in the position to say where to go if the BOS is not valid then i can say it is an unsecured loan as the Bos not worth paper it written on then say i will pay them half a month,. I have told them i know i took out the car and know it is my debt, and am willing to pay it off, just need more time, but they are totally unwilling to listen or help

Edited by Blakey1971
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I can't help a lot with this, but is there somewhere that you can hide the car away from your home?

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Well today i recieved the default notice saying I have until the 25th to pay the arrears and also this months payment or I must hand over the car on the 25th. I have reported A.C.F and The Funding Corp. to Consumer Direct, which have passed the details onto Tranding Standards, who are going to contact me (Consumer Direct said that even with a bill of sale, they still have to obtain a court order to reposses the car as i have paid over 2/3rds).

Had interesting call with Someone at The Funding Corp, said they had made arrangements 18times with me and that i have failed 12 of them. Told them the 12 times were thier mistakes which is why they refunded me nearly £220 of charges, He denied speaking to me before, then said he spoke to me in July last yr.

When I stated that maybe i should take my £14,000 that i have paid, by taking wheels off car and stripping the interior before they take it was told that calls are recorded, I stated that i was recording the call as well as i have been lied to by so many people from that company, only for him to say i should of told him and then say no comment whenever i tried to discuss anything.

 

I now have the registered number (for B.O.S) not the actual copy, as he gave me number over phone, so will be sending that off tomorrow to check if it has been properly registered. I also asked for the Settlement figure, as per my contract it says if paying early, and sum was e.g £100 and was paying back 3/4 into term then the repayment would be £50.34. now with this rough figure, and me owing £4,211 and having just over a year to pay was thinking a settlement figure would be about £2,200, I had someone who would lend me this money to get these vultures off my back was told the settlement figure would be £3,600.

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  • 8 months later...

I suppose this is an almost hourly occurrence with this devious band of vile villains,but I will add to the growing list just the same.It started with my sister being conned into buying a 3 year old Fiat for the ridiculous sum of 15,500 pound,which was including 8,500 pound interest.It was purchased on one of their devious,archaic,BOS and for 2 years she paid the monthly payment of 250 pound without missing any,but this became a problem when her hours were cut.It was at this point where I looked at the "agreement" and discovered it was in fact a BOS.

 

After checking on various websites I soon realized that these BOS's were in fact a devious way for these loan sharks to snatch the car back without a court order,but also that they were usually full of mistakes which rendered then null and void.I checked with the High Court and they confirmed that the BOS was in fact registered,but not until 41 days after the car was purchased.I then checked the credit agreement against the BOS and found a few discrepancies with the date of signing.The strangest thing was that the car was registered by DVLA a full 4 days BEFORE she bought the car.

 

My question is;does there seem to be enough to instigate a case against these fraudsters,given the mistakes that were made.I nearly forgot but,they crept around to my sisters workplace and lifted the car at 5.am last week despite her being only 2 payments in arrears and sending a letter of dispute to these criminals in February 2012.She also asked for a court sealed copy of the BOS and other important papers,which they have totally ignored,instead bombarding her house and mobile phone with threatening calls and texts.In one day they called her mobile 76 times and invariably put the phone down when she answered.Any help really appreciated.:-x:-x:-x

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You don't mention who the company is (probably as well as your post may well be considered libellous otherwise). Take a look at this thread which may help.

http://www.consumeractiongroup.co.uk/forum/showthread.php?188432-Ex-parte-injunction-against-log-book-loans-and-you-can-do-it-too&p=2028737&viewfull=1#post2028737

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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  • 2 months later...

Hi there,

 

i have complained to the F.O.S about the mis-selling of the Motor warranty Insurance I was sold when I brought a car from this company.

 

I was told at the time that the Insurance would cover all costs if my car failed an M.O.T or something major happened.

I was then told a story of how a couple had brought a car from them for the gearbox to blow up 6months later

and that because they had this insurance then they didn't have to pay a penny to get the gearbox replaced.

I also have a form which clearly states what i would like from the insurance and it is a printed ACF form that states In the event of M.O.T failure

or mechanical breakdown all repairs, labour and V.A.T to be paid.

 

The cost of this Insurance was over £1,400 with the interest on the £1,400 a whopping £1,800, in total over £3,200

 

When I came to use this warranty for a tyre (tyre insurance as well) last year I found the policy documents that

A) This cover only lasted for 3yrs (the term of the car finance was 5yrs and although on the contract it states 36months under the warranty part)

was assured by the salesman that it ran for the length of the finace and that the 36 months reffered to the interest which was at a different APR to the car finance.

 

B) That as i had no complied with changing the Timing belt immediately after I purchased the car, then the warranty would be void.

 

I complained to ACF who stated that the terms were all written out and given to me and i should of read them before signing a piece of paper to say I had recieved them,

and would of seen all the conditions of the warranty and the fact i could of cancelled it before 14days.

 

I complained to the F.O.S that surely this should of been a key element and conditon of the sale of this warranty and I should of been made aware of this before.

I was kept in The showroom from 8:50am until 1:45pm before I even got to see any paperwork, and only got it then because i was leaving at 1:50 with or without purchasing a car.

 

ACF have told the F.O.S that i would of been told at the time about the conditions

and they have dismissed my complaint despite them seeing the letter stating it was up to me to read the paperwork.

 

I am appealing against this and taking it to the top F.O.S and am looking for evidence of them using this story or similar ways of selling what is useless Insurance.

 

I have already found 1 such on here where someone was sold G.A.P.S and had an accident,

which didn't pay off all the loan as the car was over £2,000 above the glass guide price at the time of purchase,

where he was told it would cover the full amount.

 

 

Any help to get 1 back for the regular guy would be much appriciated.

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