credit4cars in administration help needed

[metty1973]

Hello

 

I took finance with Credit4cars in March 2015.

The agreement I signed includes a total of £13526.38 ,

in the agreement my right to terminate the agreement states to write to Credit4cars at the address in clause 1.1

yet, that address no longer exists for the company now its in administration

and we haven't received notification of an alternative address to write.

 

I understand from the receivers CVR GLOBAL LTD that the company AVELO LTD is now taking payments for credit4cars

however the direct of C4C has resigned from Avelo Ltd in March 2016

and now the 1 remaining director is an accountant.

 

As Avelo Ltd is not registered and regulated by FCA

they have employed Shoosmiths solicitors LLP to collect payments for them.

 

 

I cant get in touch with Shoosmiths just diverted to a/machine message

and they are not responding to emails.

 

 

Apparently because they hadn't anticipated the high number of queries etc when they got the loan book.

Others are just saying they are a debt collection company.

 

All our payments made since October 2015 when credit4cars were investigated

and Fidor Bank pulled out financing - well no payments shown on our files since October.

 

We were asked to set up a standing order to AVELO ltd

and we understood this to be a change in name of company not that they were in receivership.

 

The agreement its interests and rights etc have been assigned to this non regulated company Avelo Ltd

according to shoosmiths llp

however the same letter also states we are in 1 month arrears and we have never missed a payment.

 

I dont know who to pay,

when to pay if at all

or keep the money aside.

 

 

My agreement stated that I could VT and hand car back after 50% paid

but the figures they have on the agreement do not equate to 50%. Its a few hundred out

 

Really would like to cut my losses and walk away

because i dont want to line the pockets of directors etc but im at a loss which way to go forward.

 

The FCA have told me NOT to pay AVELO and pay Shoosmiths yet they havent put that in writing to me when I asked either.

 

Section 2.6 of our agreement states we can repay the agreement sum early by writing to Credit4cars at Supreme House Essex SS13 1EB

 

 

however, we have not received an address to write to for future now that Credit4cars is no longer

using this address as the registered office and, we have not received any notification of an alternative address.

 

I refer to section 11. It clearly states that we are required to pay Credit4cars as per page 2 of the agreement at the address shown on page 2 yet, the company no longer exists at that address and, we have not received notification to pay any other company or address other than the company on page 2. We have not signed any documentation the the contrary.

 

Section 11.9 states you have the right to assign this agreement and its rights and obligations providing you notify us in writing and no change to terms and conditions -

 

We have a tracker fitted to the car from finance company but FCA investigated them for the fact they shouldn't have been immobilizing vehicles and Fidor bank pulled their finance etc.

 

What do you think I should do?

 

Do I continue to send a cheque to shoosmiths in full

or wait until they can furnish me with a schedule showing all payments made against my account?

 

What if like others they send a new finance agreement to sign albeit a lower APR?

 

What can shoosmiths do in terms of recovering the vehicle

if I dont pay because they haven't given me the information

I need to prove to me that my payments are reducing the balance.

 

Can a non regulated company actually take over a finance agreement and instruct a debt collection agency to get the money?

 

Any help is much appreciated

 

Thanks

[dx100uk]

pers i'd stop payments

shoes are a sols.

 

who are they stating is their client.

 

I agree

don't line the pockets of fleeecers!

 

dx

[dx100uk]

might be an idea to fire off an sar too

 

 

dx

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?430132-Credit4Cars-Credit-Car-Sales-turn-your-car-off