Moneyway finance taking me to the court

[Fazool]

Hello everyone

 

I got a car around two years ago through a broker and lender was moneyway finance.

 

 

After almost 2 years of successful payments i ended up loosing my job and was un employed for about six months,

still managed to pay for the car which drained out all my savings

and eventually i got caught in serious debt problems.

 

 

Cut the story short

i had to stop paying the monthly installments and soon the communication with the moneyway started.

I asked for some extra time so that i can see the outcome of a few job interviews that i have already given

but the advisors over the phone were nothing more then un helpful.

 

 

I was explained about the procedures of repo.

As i have paid half of the amount due they told me that they have to obtain court orders if they want to repo my car.

 

 

I told them that i do not want to go to the court and i am happy to give the car back as it is

but i was told even if i was happy to return the car

they still have to go to the court which i dont understand why?

 

 

i receieved a letter saying that my agreement was terminated

and that the ballon payment is due with 17 days of this letter

and if not paid within the dead line then it will go to the court.

 

 

At that stage when i was already in defaults with my other debts

i decided to not to respond to that letter and was mentally prepared that one day i will wake up

and the car wont be standing outside my house.

 

 

Couple of weeks later i had a visitor at home but no one was at home

so he dropped a letter saying he was here to discuss the matter about my car.

 

 

The letter had a phone number and an email address.

On top of the letter there were four boxes and the first boxes was highlighted which said VISIT 1.

The other three boxes said VISIT 2 and so on. S

 

 

o i had an impression that the same gentlemen might come back again upto three more times.

Yet again i decided to not to respond to that letter.

 

 

This was about 4-5 months ago and since then i have had no communication with moneyay whatsoever.

No phone call or any letter at all.

 

 

After reading a lot of posts recently, i realised that i had made a mistake by communicating through the phone calls

and i did not write them even once. All the negotiations were over the phone.

 

 

i do not have any proofs of negotiations.

What I wanted to ask is that what can happen next?

And what is the procedure of repo through the court?

 

 

Will i get a letter from the court?

Will i get a chance to defend myself at this stage if i wanted to go for a payment plan.

 

 

I know i have ignored them in the past but that was due to my financial difficulties.

if i change my mind and want to defend my self in the court will that be possible?

 

 

And once again the main question is what is the procedure of the repo through the court

as this is a misery for me thinking about loosing my car every night before i go to bed.

 

 

Its a contant threat in the back of my head that they will take it away any day.

Please help me with this and any idea why they have not contacted me for so long.

 

Waiting for ur response

Fazool

[dx100uk]

have you already got a court date?

 

do you want to keep the car?

 

tomlin order time me thinks?

 

don't think you can do a VT as they've terminated the agreement.

 

you should have VT's the car.

they should have told you of this option.

[Fazool]

Thanks a lot for ur quick response

 

I offered then VT but they refused initially but in their last letter which i mentioned in my original post as well, they offered me the VT but i still had to pay about £400 and other costs on top so i decided to ignore that as i was not able to arrange money.

 

The answer to ur first question, no i dont have a court date i dont have any correspondence from either moneyway or from court. That is why i am confused that what is going on.

 

Will i get a court letter informing that moneyway has taken me to the court?

Or do they just get the court orders and they can come and repo my car.

 

Some people telling me not to park my car at my home address i am really confused and dont really want to get in touch with moneyway.

 

Thanks again will wait for ur reply.

[dx100uk]

what are these extra charges?

they can't charge anything extra?

 

they don't offer VT

you send the correct letter and tell them you are doing it

 

they cant refuse

but I think you say they've already terminated the agreement?

 

so no court date just a threat good

 

dx

[Fazool]

That is why i was surprised when she said that they cannot take the car back without going to the court.

 

 

The problem is i never wrote them anything.

I told them over the phone that i just want to return the vehicle as i am not able to make further payments.

 

 

The extra charges were any damages to the car and the remaining baloon payment as well.

 

 

That was absolutely impossible for me at that time.

 

Yes there is no court date no letter from court or from themselves.

[dx100uk]

i receieved a letter saying that my agreement was terminated

 

 

is this true

 

 

under vt you only have to have taken reasonable car of the car

so I doubt that it will cost you

and even then you question it.

was it new

was the damage there on take up..etc etc.

 

 

the ballon payment does not as such count

 

 

you only have to pay upto the 50% mark

to VT even if you've not reached that point yet.

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?460007-I-want-to-VT-but-need-some-help-credit4cars(3-Viewing)-nbsp

[Fazool]

Yep i received the letter saying that the agreement has been terminated.

 

 

Now the thing is that cars front bumber is damaged,

someone hit it while it was parked and never left the insurwnce details.

 

 

Something happened at heathrow airport

someone clipped the both the doors on the passenger sides.

 

 

Its a 57 plate 5 series with that much of damage so it might cost me a lot.

 

 

Now the question is can i do vt in the first place?

If not then what should be my next step

or shall i just wait for the court date

 

 

can you please explain what is the procedure if they decide to take it to the court.

Thanks

[dx100uk]

I suppose the eventual out come might well be a 'time order' then.

[Fazool]

Im sorry but what is a time order?

[dx100uk]

https://www.nationaldebtline.org/EW/factsheets/Pages/06B%20EW%20Time%20order%20on%20a%20secured%20loan/Default.aspx

 

 

https://cse.google.co.uk/cse?cx=partner-pub-0964707606882478:652l7hswbgv&ie=UTF-8&q=time+order+car&sa=Search+CAG#gsc.tab=0&gsc.q=time%20order%20car&gsc.page=1

[Fazool]

Thanks a lot will have a look at it

[theoldrouge]

 

I offered then VT but they refused initilly but in thier last letter which i mentioned in my original post as well, they offered me the VT but i still had to pay about £400 and other costs on top so i decided to ignore that as i was not able to arrange mon.

 

was this before the agreement was terminated.? Please post up a copy of their letter

and a copy of the agreement minus pers details

[Fazool]

was this before the agreement was terminated.? Please post up a copy of their letter

and a copy of the agreement minus pers details

 

Hi

Yes that was before the cancellation of the agreement but i dont have any proof because i wasnt clever enough to do it in the writing. I will post the documents as soon as i get home.