Jump to content


Moneybarn VS repo/CCJ - been told by FCA they should have VT'd - CCJ Balance reduced!!


yorkieboy1
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 861 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I purchased a car 2 years ago via Moneybarn, but got behind with payments due to reduction in wage

 

. After failing one month on a suggested payment plan, they sent me a default notice followed by a letter of termination. The leaflet enclosed with it said I had 3 options:

1: Pay off in full

2, pay arrears, they MAY let me keep car

3: hand car back

 

I called them on the phone and offered to pay arrears in full but the rude gent said their hands were now tied and termination could not be stopped, and it had gone to "asset management"

 

To cut an even longer story short the agents turned up and took the car whilst I was there and said it would be auctioned.

 

today I got a letter saying I may owe £5k as the car would probably only fetch £2800. This is slightly worrying as trade values show the car should be worth nearer £4500, a big difference even it is auctioned. The debt includes 5 missed payment "fines" of £25

 

Firstly, I didn't realise you got no interest rebate if the car was repossessed, and secondly I would have preferred to keep the car longer as I had offered to pay arrears in full, I did NOT realise that they may have to have a court order to take the car, I naively assumed I only had the above 3 options. I would have been very happy to tell a judge I could pay the arrears.

 

To make things hopefully clearer,

TOTAL COST OF FINANCE £12000

PAYMENTS MADE £4700

 

Anyone shed any light on whether moneybarn are fleecing me even more

 

thanks

Link to post
Share on other sites

It is a shame you handed the car over as they would of needed a court order if you have paid oner a 3rd

 

Those late payment fees are unlawful

Do you have all the statements

May be worth sending a SAR

 

Something not right if this has happend after 1 month if arrears

If i have helped in any way hit my star.

any advice given is based on experience and learnt from this site :-)

Link to post
Share on other sites

Oh dear you allowed them to vs? I take it

What form did you sign?

 

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... 

Link to post
Share on other sites

Sadly the problem is that you allowed the agents to take the car

 

Did you sign anything?

 

You had clearly paid more than one third but if you agreed to the repo and handed over the keys and docs willingly

 

they have the car and will auction for whatever it fetches leaving you to pay the remainder of the agreement

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

Link to post
Share on other sites

  • 4 years later...

To summarise ,

i had a car with Moneybarn, got behind with payments and not knowing about VT at the time, agreed when they said they were taking the car even though i had paid over 50%. They issued me with an outstanding full balance of £4500 in October 2017.  

 

I then read about VT, and I went to the financial ombudsman to dispute this saying i should have been told i had VT options.

The balance was unpaid whilst this went on for about 3 months.

During this i moved house.

 

Fast forward another month, the ombudsman did not uphold my claim and said i was liable.

So when Moneybarn contacted me i agreed a payment plan of £80 per month which i have been paying.

 

In January this year i looked at my credit file, which i hadn't done for a while and there was a CCJ for the original £4500.

Apparently the ccj was taken out without my appearance, and all documents had been sent to my old address, so i never knew.

 

A further twist in the tale came 3 months ago in April when i got a letter from Moneybarn.

In short it said they had been working with the FCA and they had concluded they hadn't done a good enough job of communicating to me my options when the car went back.

 

I quote "to put this right, we have reduced your outstanding balance from £4500 to £700". (the balance is at the level it should have been if i had been given the correct option on termination). I have read the FCA had been investigating Moneybarn and Provident for the treatment of customers who had got behind, so maybe this letter was a result of that

 

My question is,

do i have a chance of getting the judgement set aside , firstly because it was sent to my wrong address, and secondly because Moneybarn have admitted they were at fault with the exiting process and the exiting balance should have only been £700, not the £4500 the judgement is for. 

 

thanks 

Link to post
Share on other sites

Yes you do...

And in fact they should cancel the judgement. 

 

Theoretically as the balance is incorrect - The CCJ is then made what I would consider invalid...

Maybe its time to email the CEO? :)

The FCA Contact is [email protected]

Also drop in this one for good measure - [email protected]

 

This is MB are part of Provi...

 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

Link to post
Share on other sites

" firstly because it was sent to my wrong address, ...Did you inform them you had moved ? and secondly because Moneybarn have admitted they were at fault with the exiting process and the exiting balance should have only been £700, not the £4500 the judgement is for. Have they amended it on your credit files to £700 ?

 

IF your response is no you didn't inform them then you wont get a set a side.

If they have amended it to reflect the new judgment figure...then again that is okay.

 

Andy

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

Thread moved to the appropriate forum..please continue to post here to your thread.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

I moved during the couple of months it was with the Ombudsman , the ccj seems to have been actioned during that period.

It was a few months later that i told them i had moved, so no, i didn't tell them before i moved.

 

The credit report shows current balance of £670 but the CCJ entry on the credit file shows a balance of £4500

Link to post
Share on other sites

Well you can only have one balance for a debt/judgment.....obviously the credit files are incorrect...have you checked them all ?

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

I have only checked the free ones, Totallymoney and Noddle, under current accounts they both show "Moneybarn" balance £670, but under "rulings"  or "public information" where the CCJS are shown it gives the case number plus the amount (£4500)

Link to post
Share on other sites

The Registry Trust will need to be updated before the CRAs are amended......

 

Check here..

https://www.trustonline.org.uk/help-topics/

 

If the entry is for the greater amount raise a complaint using the letter from Moneybarn as evidence.

 

Andy

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

old and new threads merged for full history..

 

WOW moneybarn correcting the age old issue of not telling a customer about VT...urm this is interesting.

wonder if its a one off or has wider implications......numerous examples of them doing this on CAG.

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... 

Link to post
Share on other sites

  • dx100uk changed the title to Moneybarn VS repo/CCJ - been told by FCA they should have VT'd - CCJ Balance reduced!!

As i said the FCA have been investigating Provident and Moneybarn for months now, specifically not helping people in arrears and not giving clear termination guidance, apparently its due to close soon.

 

My letter from them is from what looks like a senior person at Moneybarn, and reply email addresses are ones i haven't seen before and refer to a specialist department (redress), the telephone number is also new.

The letter is unreservedly apologetic, and that is an understatement. 

Link to post
Share on other sites

wow.

if it doesn't say confidential etc 

is it possible you could scan it up to PDF?

 

read upload

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... 

Link to post
Share on other sites

thank you that is VERY useful

 

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... 

Link to post
Share on other sites

funny they don't mention the ccj?

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... 

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...