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Finance company refusing to collect vehicle


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Hi everyone,

 

I'm really not sure where to put this on the forum but thought here might be best.

 

My sister-in-law is currently having massive financial problems at the minute

- she was unexpectedly laid off from work,

had to give up her home and move back in with her mum.

She has a car on finance which she is now trying to hand back

because there is no way she can afford to keep it.

 

Long story short,

she hasn't made a payment to the finance company

- Black Horse - for around 10 months now.

 

 

She has written to them about 6 times and telephoned them around 2 dozen times.

When she calls they tell her someone will phone her back but they never do

and she has never had a single response to any of her 6 letters.

 

 

All 6 letters were sent recorded delivery and they were all received.

 

She is practically begging them to come and collect the vehicle and yet she can't get any response from them whatsoever.

 

 

The problem she has now, and it is becoming urgent, is that her mum is moving house in the next couple of weeks

and so the car needs moving.

It is SORN'd and not insured at present and her mum is moving to a flat with no off road parking.

 

She has told Black Horse that she is moving soon and that the vehicle needs to be gone

but they are completely ignoring her letters.

 

 

The only letters she is receiving is one a month informing her that she has been charged a £12 default fee for not paying that month's payment.

 

She hasn't even received any letters demanding payment for the past ten months.

If it wasn't for the monthly default charge letters,

it would be as if Black Horse didn't even care that they aren't currently being paid. It's a very strange situation.

 

 

Can anybody recommend a next step?

Could she write to them one last time informing them that if they don't reply this time

that she will be moving house, leaving the car behind

and informing the DVLA that she is no longer the registered keeper?

Or is that just wishful thinking?

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What was the total of the finance and how much has she paid ?

 

When you have made 50% of the payments you can voluntarily terminate the contract and the finance company has to accept it.

 

I would suggest that you take a lot of pics of the car with close up of any scratches or damage both inside and out and keep them safe.

 

Has she checked her credit file to see if the missed payments are being recorded ?

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Hi,

 

Thanks for the reply.

 

Unfortunately she was only 11 months into a 48 month agreement when she could no longer afford to make payments so hasn't paid close to 50%.

 

I should have included that, sorry.

 

Good idea regarding the pictures, I'll get her onto that today.

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You dont have to wait till 50%.

You can VT at any time.

Below 50% you will owe a termination figure.

50% or above you owe nothing.

 

if you have paid less than half and do a VT,

the creditor can try to reclaim monies owing,

but the debtor can treat them as any other credit debt

and so, for example in a DMP,

money would be allocated pro rata from disposable income.

  • Confused 1

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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You dont have to wait till 50%. You can VT at any time. Below 50% you will owe a termination figure. 50% or above you owe nothing.

 

if you have paid less than half and do a VT, the creditor can try to reclaim monies owing, but the debtor can treat them as any other credit debt and so, for example in a DMP, money would be allocated pro rata from disposable income.

 

I've just Googled this and you're right. The Agreement can be terminated under S99 of the Consumer Credit Act "At any time before the final payment is due".

 

Thank you VERY much for the help, you've no idea how grateful we are for it :)

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PROVIDED the ac has not been terminated by BH (this is important as the agreement cannot be terminated twice)

 

send the following letter by signed for delivery

you can VT
link8.giflink8.gif
AT ANYTIME, but MUST do so under s99/100cca1974

 

You must vt under s99/100 cca1974.
do not sign
link3.gif
any of their forms, or agree to pay any charges. The car has just to be in reasonable condition for its age. .Send them the following letter, they MUST action your request, you should endeavour to be present at the vehicle inspection---

 

VOLUNTARY TERMINATION OF AGREEMENT UNDER S99/100 CCA 1974

 

Account No: (xxxxxxx)

Dear Sir,

I am writing to notify you that I am exercising my right to terminate the above Agreement under Section 99 of the
consumer credit
link3.gif
act1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

 

I understand that I shall be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974.

 

The above agreement will be terminated 14 days from the date of this notice.

(unless you pay less than £1500 per year you must give one months notice)

Please send me details of how the vehicle can be returned to you.

 

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.

Please confirm receipt of this request in writing within 7 days of receipt.-Yours etc...

 

attend vehicle condition report, take dated photos from every angle

 

a short reasonable distance would be the distance you travelled to buy the car

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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.

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depending on how much your arrears are, youd have to pay those, then VT and pay the termination fee that was stated in your contract. Whatever you do, dont VS it.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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  • 2 weeks later...

Just a quick update on this; Black Horse accepted the VT without any argument (I was expecting them to put up a fight) and they came and collected the vehicle today.

 

Thank you very much to everyone for your help, you've no idea how much stress you've helped to relieve :)

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Glad to hear everythings sorted :) And thanks for the update. It may help others int he same situation as you, be more confident when dealing with them

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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