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Motorcycle - Hire Purchase - Court Decree 2010 - Ready To Pay!

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This is going to sound odd...

 

I had a court decree granted against me: 22/01/2010 for almost £3000.

 

It was in relation to a motorcycle that I purchased on Hire Purchase in March 2007 on a 4 year payment arrangement.

 

I believe the last payment I made to the finance company was around August 2008 (I was made paid off - Contractor).

I would have paid just over £2000 on a £3000 bike which had interest on top meaning I was due to pay around £5000 odds...

 

Obviously the court claim in 2010 was for the remaining balance of the credit arrangement including interest!

 

So, would there be 8% interest per annum chargeable on this amount considering that the claim included interest to complete the agreement

rather than the remaining actual outstanding balance?

 

Now for the odd bit... I still have the bike!

 

When I was paid off I thought I'd quickly get another job so I took advantage of the time off

and stripped the bike bare and sent the frame and other parts off to be powder coated.

My money dried up pretty quick and I didn't have enough to put the bike back together

plus I'd sold the fairings on ebay to raise cash to get the frame back from the painters...

 

I've slowly built it up over the years and am now almost finished.

It has not been on the road or out of my garage since 2008.

 

The thing is, I don't own it!

 

I now have the money to pay the finance company. Well, I have £3000.

 

What is my position?

The decree is for just over £2800.

Would I simply phone them up and agree to pay that

then make the payment

 

 

or are they going to be looking for the 8% per annum interest on top meaning it'd be over £4000

which would be nonsensical on a bike that might be worth £2000.

 

Also, it's over 5 years now.

Do I wait and see if they act before the 6 years is up

and THEN attempt to pay assuming that they would be in a weaker position with the time limit expiring (does it?).

 

I want to own the bike.

I have £3000.

I am severely confused as to what to do and seeking a little help.

 

 

The bike, as it sits, is worth £3000 to me (the exhaust alone retailed at £1200 back in the day - Titanium race thingy)

and I want to get out and about on it once again and have some enjoyment after the horrendous few years I have had.

 

£3000 can easily buy me a cracking second hand bike that'll be mine straight up

and I can worry about the other one after the six years are up,

IF the 6 years matter (ie: would put me in a stronger position for bargaining).

 

 

I'm not willing to pay £4000 as I don't have it and if keeping quiet and not making any contact with them

(and hoping for the same in return) until January 2016 means

I can crack a deal and pay the £3k for clear title then that is what I'd prefer to do. I CAN pay the £3000.

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I had a court decree granted against me: 22/01/2010 for almost £3000.

 

 

Also, it's over 5 years now. Do I wait and see if they act before the 6 years is up and THEN attempt to pay assuming that they would be in a weaker position with the time limit expiring (does it?).

 

Hi,

 

They have 20 years to enforce a Decree.


 
 

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Does the length of time that's passed already have any bearing on bargaining?

 

Would you think they'd be willing to give clear title for settling the amount as ordered or do you think they'll be wanting the interest as well? Just your personal thought/sharing of experience.

 

Not wanting to open up a can of worms for myself unnecessarily and would appreciate others views.

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no it has no bearing sadly

 

 

they cannot charge anything that is not written on the decree

 

 

so forget the 8%

 

 

dx


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I don't have a physical copy of the decree...

 

I only viewed the details on my credit file.

 

Can I attend the court that issued the decree and obtain a copy of it?

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probably

 

 

I'd ring first and ask


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Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

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