ACF/TFC BOS HP Agreement - illegal? repo- now cabot Chasing HP shortfall

[metisv]

Hi

 

New to the forum

but have reading through a lot of related threads

and now i'm a little confused as what action to take

(if any next).

 

I have spend the last couple of years fixing my shambolic credit history,

got myself into a right state back in 2010/2011 with debt totalling around £12k with various creditors,

defaulted on everything and avoided by ignoring letters/moving, etc.

 

Over the last 2 years I have been tackling them one by one arranging settlements and have a single creditor left totalling just over £4k.

 

This debt is related to a Bill of Sale Agreement for car finance.

I paid the agreed amount for nearly 2 years of the 3 year agreement before I defaulted.

They ended up taking the vehicle and sold it at auction.

 

I later found out that I could of contested them doing this since no Bill of Sale stamped by the court was produced.

They also never provided me with an auction receipt to prove the amount the car was sold for.

This was back in 2010/2011 but can't remember the exact dates.

 

Fast forward to now

i'm being chased by a DCA to pay the outstanding amount.

They have sent a few letters which I have ignored up until now,

letter essentially reads that if I do not contact them in 28 days then my account will be reviewed for legal action.

 

Previous letters up until this have all been very nice.

Considering the age of the debt, it's very close to being statue barred which could be why they are now looking at escalating.

 

I have a default registered on my credit file from the DCA (not the creditor) dated 05/2011.

I don't have any paperwork relating to the agreement or statement of the account so can't check if this date is true.

 

So far I have not responded to any letters but I did call them around 6 months ago and tried to offer a settlement.

They said they would call me back if they accept the offer but never did,

nor have they attempted any other phone calls in attempt to recover.

 

No subsequent letters have been in response from the phone call.

 

So a few questions on this if I may:-

1) (In relation to SB)

Have a shot myself in the foot by offering them a settlement over the phone?

Haven't confirmed anything in writing.

 

2) What should be my next action?

Continue to ignore or send a prove-it letter or CCA request?

 

Any advice would be greatly appreciated

[martin2006]

1)No you havent, any acknowledgement needs to be in writing

 

2)They are what one of my colleagues refers to as "willy waving". A cca request will stop that until they have it. Buys you some time while you send a SAR to the original creditor.

 

A dca cant register a default, what they usually do is replace themselves as the debt owner on the OC default, you should have been sent a notice of assignment at that time and regular annual statements since.

[metisv]

Thanks for your quick response.

So CCA the DCA and SAR the original creditor then? I did read somewhere that a SAR is acknowledgement of the debt... I assume this is BS?

[renegadeimp]

SAR is NOT an ack of the debt. It is a legal request for them to supply any info they hold on you. It acknowledges nothing and can be sent to any company.

[metisv]

Thanks, will take a look at the templates and start preparing then

 

Sorry, back again!

With regards to the CCA, would this fall under Section 77 (fixed loan) or 79 (HP agreement)?

As mentioned previously all I remember is that the agreement was a loan for the vehicle but with a "Bill of Sale" placed on it

[fkofilee]

Was it finance for a vehicle or was it a log book loan.

Need to be clear here... The difference between the 2 is substantial.

[metisv]

Not 100% sure to be honest....

 

I remember that it was a bit weird, I bought a car from a company called ACF,

but the finance wasn't them it was The Funding Corporation.

 

 

There was mention of Bill of Sale on the car but this was never evidenced when they came and collected the vehicle.

[dx100uk]

whos the DCA?

 

as the repo was unlawful?

[as they didn't get a return of goods order from a court? or serve a default notice]

 

the whole agreement is now void.

 

https://cse.google.co.uk/cse?cx=partner-pub-8889411648654839:6449422593&ie=UTF-8&q=ACF+the+funding+copr&sa=Search+CAG#gsc.tab=0&gsc.q=ACF%20the%20funding%20copr&gsc.page=1

 

I really hope you CCA's the others you've paid off?

as its a waste of money doing so if the debts are defaulted

doesn't help your credit rating at all.

 

shame you've been ringing all these people too

bet that helped convince you to blindly cough up with the lies they told you on the phone?

[metisv]

Yeah

they didn't show the Bill of Sale when they came and collected the vehicle back in 2010/2011.

I let them take it

 

but later read that I could of challenged it since this paperwork was never produced stamped by the court.

 

This really messed me up,

tried to reason with them since only have 1 year left

and even tried to re-finance

but they weren't having none of it.

 

Since I had no car I subsequently lost my job and things just went from bad to worse.

 

Situation is much better now,

yeah upon reading some of the threads here perhaps I should of challenged a few of them.

 

This is the last one left that doesn't read a "0" balance on my credit file.

Really loathed to contact/pay this one after all the trouble they put me through and considering the amount they have already received.

 

Car was around £9k (overpriced)

Paid around £450 a month for nearly 2 years (over £10K)

Car was taken (perhaps illegally) and sold for around £3k (no receipt shown)

So total paid already around £14k

DCA chasing for another £4.1k

 

Current chasing DCA is Cabot

[renegadeimp]

If Cabot are chasing then it's a lemon debt. Time to get Reading up and all your paperwork together

[dx100uk]

who says you've got to contact them at all?

 

they are not bailiffs,

 

id get an sar running to TFC

[theoldrouge]

Yes SAR to TFC first gather as much info as possible

 

CCA request later under s77

[metisv]

Ok, will SAR TFC first then.

Just thought that CCA to Cabot might stall them if they are indeed intending to escalate.

All defaults will be gone in the next 12 months and don't want to jeopardise that with a possible CCJ.

 

Thanks all for your help so far.

 

Will post any updates as and when

[martin2006]

Refer to *9

If they have unlawfully repssessed the vehicle then the agreement is void and they cant take any court action on a void agreement.

 

All the action is now yours to take, personally i would want every penny pkus compound interest back!

[metisv]

With regards to the unlawful taking of the car, i'm just not sure....

 

. I have read over posts on this forum and others that a Bill of Sale stamped by the high court must be complete for the agreement to hold.

 

Unfortunately I did not challenge this at the time.

I guess I should find this out with a SAR request?

 

Am I correct in expecting this info from a SAR?

 

Original credit agreement

Full Statement of account including dates totalling to the outstanding balance

Bill of Sale stamped by court

Auction receipt as proof of amount settled against the balance

 

Cheers again

[dx100uk]

missing the point met

..........

they didn't get a return of goods order from a court FIRST?

you had paid over 1/3rd.?

agreement voided?

[metisv]

Point taken, will still need the SAR though to evidence that. I don't have any copies of the original agreement.....

[dx100uk]

yes to the SAR

but no to the point of they illegally repo'd the car.

 

 

but ofcourse B/W evidence of what they did is always useful.

let it run

dont do anything else without asking.

 

you could be quids in here if it all pans out as we think.

[metisv]

Thanks, will come back as soon as I hear anything

 

Just building up the SAR now, since I don't have the original account/ref number, will just my name and address when taking out the agreement be ok as a starter for 10?

[dx100uk]

you actually don't need any account numbers

its info the hold on you under your name

[theoldrouge]

Just to elaborate on what to look for and why in your SAR

 

I suspect that what you entered into was a BOS linked to a standard s77 credit agreement

Regrettably none of the hp protections would apply, no matter how much you paid

unless,

and this is very rarely used ,

your BOS was linked to an hp agreement

 

Therefore all that would be needed to repo the car would be on the expiry of a valid default notice, which had not been remedied

 

However, having said that, I have seen a number of BOS from ACF/TFC around the time of yours

that were never registered with the High Court,

thereby rendering the BOS void,

and if this was the case, as they enforced their security,

laying them open to an albeit complex compensation claim

 

Cabot of course have purchased the credit agreement,

this is a separate entity, and would not be voided by a defective BOS

and I suspect at some stage will have to be dealt with, as you are a few months from sb

 

So you will be looking for

The pre contract information

The agreement to determine its type

A copy of the BOS

The Default Notice, very important in this instance

Any charges and add ons

The SAR narrative ( comms log)

[metisv]

Thanks for your help so far.

Just to confirm that I have sent the SAR to TFC.

 

Cabot are heating up, latest letter is now threatening solicitors to obtain a CCJ.

I have sent them a CCA request with a view to use a Pre-Action Conduct letter to their solicitors when it comes through.

[dx100uk]

Its phaps better to await our advise sometimes before sending letters

Please refrain from panicking when you gef a threat-o-gram from a powerless dca

They are not bailiffs

And I bet that letter doesn't say will anywhere!!

 

Bad move IMHO

Now they know they might have a mug that's worth trying to fleece

Standby for endless letter tennis now

[metisv]

In my defence it did say will

 

They explained normal action is to go to solicitor to obtain.

If no response in 14 days then then WILL proceed as highlighted above.

[dx100uk]

but before that it says other option to..

and I bet it says instruct our solicitors

I can instruct my dog to sit

if it does is another matter

 

 

 

 

scan it up to PDF please