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issues with car loan

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Hi,

 

I am a bit confused, I have read a thread from dandare where it is advised that the company does not need to issue a default letter, what I am missing?

 

Husband is behind two months on car (credit) and called yesterday to say they are issuing a default today... any advise?

xx

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Hi,

 

I am a bit confused, I have read a thread from dandare where it is advised that the company does not need to issue a default letter, what I am missing?

 

Husband is behind two months on car (credit) and called yesterday to say they are issuing a default today... any advise?

xx

 

They have to issue a default notice before they go to the next stage of legal action to recover the money. That's all I can tell you with my limited knowledge. To be honest I'd be more concerned about what the 'next step' is - with car credit it's for a specific purchase, which although is protected goods under the Consumer Credit Act they can still repossess it providing they can get a Court Order to do so..


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DISCLAIMER: My opinions are strictly personal, and should not be taken as a substitute for individual professional legal advice on your own particular situation.

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Hi thunderpuss2k,

 

I know it is a worry they have rung and refuse to agree to a payment plan, hubby has had loan 2yrs in June (4yr contract) and usually a couple of weeks late when he is late, this is the first time this has happened.

 

Thanks for the input though - I just hope someone is there to confirm then I can take some action as no default letter received - there are charges on the account though.

 

xx

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If they refuse to a payment plan it sounds to me like they are being unreasonable. Courts and Judges don't like unreasonable... so it's unlikely they will be going to court soon. Send them a letter stating what you can afford to pay monthly towards the arrears and enclose a cheque for the first instalment... if they don't accept it they are doing themselves no favours at all.

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Hi thunderpuss2k,

 

I know it is a worry they have rung and refuse to agree to a payment plan, hubby has had loan 2yrs in June (4yr contract) and usually a couple of weeks late when he is late, this is the first time this has happened.

 

Thanks for the input though - I just hope someone is there to confirm then I can take some action as no default letter received - there are charges on the account though.

 

xx

 

Hang on a sec though.. you're saying they called you yesterday to advise they were putting a letter in the post, and today you're worrying about not receiving it? Chill out :)

 

Anyway, you've paid two years of the four year term, so you've reduced the debt by 50%. I know ownership doesn't transfer until full and final payment, but you've got a good case to argue if it went to court.

 

Wait til the default letter turns up, anything that says in there 'x days from the date of this letter' is frankly b*****ks - they have to give you a time period from the date you receive it - not when they printed it off and popped it on the side waiting til someone could be bothered to go down the post box :)

 

Once you get the letter, come back, start a new thread, and I'm sure we can get it sorted one way or another :)


If my reply or advice was helpful, please click the scales!

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DISCLAIMER: My opinions are strictly personal, and should not be taken as a substitute for individual professional legal advice on your own particular situation.

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Sorry Thunderpuss2k,

 

They have been calling for the last couple of weeks and have said this a few times - a couple of days ago they said it again, sorry for the confusion.

 

We are going to pay one of the months off today but what about using the charges on the account as leverage to remove the default - i.e. they have charged approx £200 over two years, can we ask they consider removal in full and final settlement of a refund of charges claim? I am living on cuckoo?

 

xx

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Sorry Thunderpuss2k,

 

They have been calling for the last couple of weeks and have said this a few times - a couple of days ago they said it again, sorry for the confusion.

 

We are going to pay one of the months off today but what about using the charges on the account as leverage to remove the default - i.e. they have charged approx £200 over two years, can we ask they consider removal in full and final settlement of a refund of charges claim? I am living on cuckoo?

 

xx

 

You could try and remove it, but at the end of the day you've got a slight issue as from what I can tell this is a loan secured on the car. If it was unsecured, the worse that they could do would be CCJ etc. As it's car finance, the worse that can happen is they repossess it, which you don't really want to do.

 

If you pay off one of the months today, how far would you be behind?

 

By the way just one or two defaults isn't the end of the world. Having 6+ accounts in default with no payment made for months on end and a few CCJs is a different matter :)

  • Confused 1

If my reply or advice was helpful, please click the scales!

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DISCLAIMER: My opinions are strictly personal, and should not be taken as a substitute for individual professional legal advice on your own particular situation.

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Hi thunderpuss2k,

 

(by the way, clicked on the scales):D

 

Paid one months yesterday and that leaves one to be paid, which will be paid next week (reason - hubby is self employed and have had a couple of cheques go bump!) When he paid the month yesterday, the guy on the end on the phone said they can have the default removed, hubby clearly checked did they mean amended or satisfied or removed. He guy said removed, they cant just be lying to get payment, surely? Should we ask for this in writing?

 

Your situation certainly sounds worse, sorry to hear that as this is very stressful and we are struggling with the problems we have. Glad to have found the site and grateful for all the advise..

 

xx

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Oh any thuoghts on the use of the charges as leverage?

 

Sorry I have not worked out how to paste a quote and edit my posts, I will learn??!but any advise on this would also help.:???:

 

xx

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Sorry I have not worked out how to paste a quote and edit my posts, I will learn??!but any advise on this would also help.

To get this I typed the following without the initial space between "[" and "quote" (after highlighting and "copying" your text)

 

[ quote=The effevescent Goldie!] Sorry I have not worked out how to paste a quote and edit my posts, I will learn??!but any advise on this would also help.

 

To edit your posts, click the "Edit" button at bottom left, type in the box, and then click "Save" at the bottom left of the box.

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When he paid the month yesterday, the guy on the end on the phone said they can have the default removed, hubby clearly checked did they mean amended or satisfied or removed. He guy said removed, they cant just be lying to get payment, surely? Should we ask for this in writing?

 

Ask for a receipt and confirmation in writing that the default has been removed, then in a month or two go take a glance at your credit records at Experian, Equifax etc.

 

As I said, defaults on your file aren't the end of the world. It doesn't sound like you're majorly behind with these car payments, and are making efforts to bring it up to date - so all should be ok. :)


If my reply or advice was helpful, please click the scales!

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DISCLAIMER: My opinions are strictly personal, and should not be taken as a substitute for individual professional legal advice on your own particular situation.

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Aah right.... (did you hear the penny drop?) thanks for the input and advise thunderpuss2k, will get hubby to ask for confirmation then..

 

xx

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