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    • Hi, I have found this group very helpful hence I am here seeking help and advice.   I got myself into a situation where I have now more than £50k in unsecured debts (personal loans & credit cards) and things are now getting out of control as I am struggling to make payments. This is purely my own created situation and I am taking 100% responsibility for it. I am keen to get out of this situation as soon as possible hence I would appreciate any help and advice in this process. I am employed at the moment and don’t want to risk going into IVA or bankruptcy as this would risk losing my job. Being sole bread earner of my family, I cannot afford to lose my job. I have been trying to keep up with the payments so far and had few missed payments instances until 3/4 months ago but got caught up with missed payments somehow using my savings. All my debts are still with original lenders. However I know I am getting into same situation again shortly and won’t be able to get out of it again. I have started exploring Debt Management Plan (DMP) option through StepChange but haven’t submitted it yet. Based on budgeting, I have around £820 available to make payments to all lenders after taking care of all other essential expenses. This is definitely lot more affordable than what I am currently paying to different lenders. 1. Is DMP right option for me in current situation? 2. what are the negative consequences of availing DMP? 3. is there something else that I can do to get out of this situation? I’m determined to clear out all my debts but need bit of breathing space and time. Let me know please if you need any additional information. Thanks in advance for all your help and guidance. MM  
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    • nope  and  neither dx
    • Ok Thank you DX will do just that . will keep you up dated.
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Voluntary Termination with excess mileage


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Hi,

 

my wife is 28 months into a 36 month PCP agreement with Ford.

 

The car is becoming unaffordable for her and has contacted the finance company to discuss VT.

 

they have said she can as she has paid in excess of 50% but are stating excess mileage charges will apply. because she was sold this car with 6000 miles allowed which was never suitable, she has gone over that and would owe around £550 in mileage.

 

if VT'ing the car is this amount still payable? ford are telling her it is.

 

there are mixed views over the internet.

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When You VT - the agreement is at an end.

 

However, you do not have to pay any excess mileage charges.

Tell the lender that your liability is defined by the consumer creditlink3.gif Act, not by their terms and conditions.

 

The Act says when you VTlink8.gif, you pay anything owing at the date of the termination (i.e. arrears) plus any such further sum as is required to bring the total amount paid up to one half of the total purchase price.

 

So if there are no arrears and you have already paid one half, then you have nothing further to pay.

 

The problem for Ford is that the excess mileage is not payable at the date of the VT

- it can't be, because they don't know until they get the vehicle back what the mileage is.

 

So, as there are no excess mileage charges AT THE DATE YOU VT,

then the Act says you do not owe it.

 

Point this out to them and tell them to come and get the vehicle and that your liability is at an end.

 

take loads of photos inside

outside

under

in bonnet etc.

 

 

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... 

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  • 2 months later...

Hi

 

The car was collected last Friday and the collection rated everything as good, and everything present.

 

I have kept photos of the condition etc..

 

Today I have received a letter from ford credit entitled "reminder" under the terms of the voluntary termination i wire to advise you that the liability due is £918 or it will be passed over to debt collection agency

 

No breakdown or anything just literally a demand for money's. This is the first letter received since collection.

 

Do I write back requesting a breakdown or just literally a standard letter stating no liability under CCa?

 

Thanks for reading

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i'm sorry I didn't see or read you 1st line carefully.

 

 

If This is PCP they can add financial penalties for excess mileage. That mileage would have had to be on the agreement you signed.

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... 

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Yes write back and request a breakdown of what they are asking

 

Yes you will be liable for excess mileage dependant on how your agreement was written

 

This has even held at county court level

but afaik has not been tested in a higher court

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.

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  • 2 weeks later...

Hi all

Just had my county court letter,

 

looking for actual sections of CCA relevant to excess mileage,

 

my contract was with Mercedes

 

in termination my rights it states :

 

as long as I have paid 50% and the car was returned in good condition

(You will not have to pay anymore)

 

however in section 12 last paragraph on last page in smallest print

(excess mileage will be due on earlier termination)?

 

and help welcome

 

 

Dave

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so it looks like EM is payable then...

 

 

what do you mean county court letter?

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... 

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Share on other sites

  • 4 weeks later...

Good afternoon,

 

After receiving letters demanding money for excess mileage and additional payment for hire I have defended it using template letters

 

Today I gave received a letter stating that they still believe the excess mileage is due under section 100(4) of the CCA.

 

Also for charges between our last payment and the date the termination notification was received, we missed no payments due before termination.

 

They state that they have assigned the account to Asset link capital who have appointed Link financial outsourcing to recover the outstanding and dating all future contact needs to be with them.

 

What is the next step I can take? Is it right they can just pass the debt on while I'm still in comms with them?

 

They have included a financial ombudsmen leaflet also.

 

Thanks for reading, and please help

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shows how confident they are of their claims that they've sold the debt to a fleecer.

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... 

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just remember a DCA is NOT A BAILIFF

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... 

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Share on other sites

yep

its a ll a DCA can do

they have no magical powers at all

all they can do is just like you or I.

and that's raise a claim in court

and

IMHO if the original company didn't do that

and they would crush you in court if they had of done

it speaks volumes upon how enforceable any of these charges are.......

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... 

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