Moneybarn - Court hearing in 3 weeks

[thescribe]

Hi all,

 

I have a court hearing with money barn in 3 weeks

where they are seeking a return of a car I have on finance with them.

Firstly, hands up, entirely my own fault.

 

Circumstances are this.

I haven't yet paid a third.

In february I got into financial difficulty and instead of discussing it with them I did a fine impression of an ostrich and ignored all their letters.

 

 

One of them was a termination notice, that much I do remember, and it followed all the others into the bin.

(No, I'm not sure what I hoped to achieve by that either.)

 

I then got a letter stating that they had passed it to their repo company who would be in touch.

I heard nothing then until I got this pack from the court telling me of the court date.

 

They are seeking:

 

- the full finance amount outstanding,

including all the interest that would have been payable under the 5 year contract (even though it's just over 2 years)

- compensation

- the return of the car

 

I contacted them via email, apologised, explained about being poorly

and told them that I would be able to bring the account fully up to date on the 29th of November.

They declined.

 

Is there anything I can do?

 

I think they're taking the a bit wanting all the money AND the car?

 

 

I have to fill in a defence form and was thinking about saying that they can have the car and the outstanding finance LESS the book value of the car.

 

Any suggestions?

[theoldrouge]

you have two options to try to keep the car,to request a suspended repo order or a time order

 

have a read of time orders here

 

https://www.nationaldebtline.org/EW/factsheets/Pages/06C%20EW%20Time%20order%20-%20hire%20purchase%20or%20conditional%20sale/Default.aspx

[thescribe]

you have two options to try to keep the car,to request a suspended repo order or a time order

 

have a read of time orders here

 

https://www.nationaldebtline.org/EW/factsheets/Pages/06C%20EW%20Time%20order%20-%20hire%20purchase%20or%20conditional%20sale/Default.aspx

 

Thank you theoldrouge,

 

If I apply for one of them, should I do it now or ask for one in my defence form? Also, does this in effect them re-instate the agreement?

 

I have also emailed them asking for a copy of the default notice and a full statement including any charges they have applied

[theoldrouge]

Thank you theoldrouge,

 

If I apply for one of them, should I do it now or ask for one in my defence form? Also, does this in effect them re-instate the agreement?

 

read the full link, if you wish to apply

 

you will need to fill in the form 9C that came with the pack

together with your witness statement

[theoldrouge]

in answer to your question it wont reinstate the agreement, which can only be terminated once

so any opportunity to vt the car has gone

[thescribe]

in answer to your question it wont reinstate the agreement, which can only be terminated once

so any opportunity to vt the car has gone

 

thank you!

 

Another question if you don't mind? Sorry about this!

 

They are saying that the default notice was the termination notice. In the sale agreement though it says this:

 

"On or after the occurrence of an Event of Default we shall be entitled (subject to the consumer credit act 1971), and after serving a default notice, at our option to terminate the agreement."

 

Should they not have sent me a separate default notice then?

 

This is what is says in the default notice:

 

"If you do not take the action required by this notice before the date shown then the further action set out below may be taken against you:

 

Further action: on or after the date shown for payment of arrears:

 

* we will terminate the agreement with immediate effect;

* we will enforce our rights to recover possession of the goods and our rights to payment under the terms of the agreement; and

* we may register a default with the credit reference agencies to which we subscribe."

 

My emphasis on the 'may'. To me this says this is a possible course of action, not a definitive one. Shouldn't they have told me they were going to terminate?

 

Also this:

 

"If you fail to take the remedial action by the date shown above you will be liable to pay us the balance outstanding under the agreement of £17,9913.36 less a rebate of £5,101.84 (which will reduce if you do not pay by the date shown above), to give a net amount payable by you of £12,889.52 (which will increase if the rebate reduces.) We will deduct from this amount payable any net proceeds we receive from the sale of the repossessed goods."

 

But then in the court papers there is no mention of this rebate?????

[theoldrouge]

they must have served a compliant default notice under s87(1) cca 1974

giving you 14 clear days to remedy

before they were able to terminate the agreement

[theoldrouge]

rebate is only payable if you were to settle in full

 

this is why it is so important to obtain a suspended repo order or a time order

 

otherwise you become liable for the full agreement less what the car sells for at auction

 

forget the "may" they have terminated

[thescribe]

But that's not what it says, it says "IF you fail to take the remedial action..."?? - Ignore me,

I think I see what you mean now

 

They've also included their 'charges' in the default notice

Edited October 25, 2016 by thescribe

[theoldrouge]

but you havent remedied ie paid in full by the date on the dn??

[thescribe]

No I haven't

but it's not saying "if you take remedial action as above" then that's what happens.

 

 

They say if you FAIL to take the remedial action, this is what you will owe.

 

 

Do you see what I mean?

 

Shall I upload a copy?

 

I'm not reading it wrong am I?

[theoldrouge]

Concentrate on the N9C and your ws

 

You haven't remedied and they terminated

[thescribe]

Absolutely, I'm just trying to find a way to limit my damage and if I'm reading it right it becomes part of the contract so I can rely on it when defending their claim for over 17k

[dx100uk]

you are filing in the N9C asking for a time order.

you don't need to defend nor limit damage.

 

 

https://www.nationaldebtline.org/EW/factsheets/Pages/06C%20EW%20Time%20order%20-%20hire%20purchase%20or%20conditional%20sale/Page-04.aspx