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Moneybarn - 1 month in arrears - how quickly will they move to repossess?


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I took out a conditional sale agreement with Moneybarn in March 2012. I can't remember the total figures but the agreement was over 60 months and my monthly payment is £215. I part exchanged my previous car as the deposit.

 

I made 20 payments on time with no difficulties.

 

Then on 1 December 2013 I missed a payment. I got a letter on 14 December advising they had noted I had fallen into arrears and to make payment immediately.

 

A lot has been going on and it sounds awful but I almost forgot about it all until today. I can catch up the missed payment plus the £25 charge on the 31st December. I have emailed them to say this but so far have only had a response to say they will need my postcode, DOB etc to discuss my account further.

 

Are they likely to try to repossess over 1 month arrears that I can repay in a few days?

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Hi and welcome to CAG

 

Highly unlikely they will repossess. One late payment is not the end of the world to them so long as you make it up.

 

You can challenge the £25 charge though. Any admin costs should be reasonable and it doesn't cost £25 to send a letter or mark the account as a late payment.

 

When you signed the agreement, you gave personal details and these form part of the security checks they need to confirm your identity so it is normal for them to ask.

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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