PCF Bank Car Finance - have i Paid +1/3 HP Agreement? **RESOLVED**

[TheDude1]

Repossession - Your rights

If you do not keep your side of the agreement but you have paid at least one third of the
total amount payable under this agreement, that is £1,199.57 we may not take back the goods
against your wishes unless we get a court order. (in Scotland we may need to get a court
order at any time). If we do take the goods without your consent or a court order, you have
the right to get back any money that you have paid under this agreement

HP Cost - £2718.00
Interest - £530.70
Administation Fee (DD) - £175.00
Title Transfer Fee - £175.00

Total Amount Payable - £3598.70 (3598.70 / 3 = 1199.57)

 

So it appears that charges are infact included in the 1/3 rule.

 

It all started when I fell behind on payments, I missed 2 monthly payments and they
issued a DN. I was unable to meet the DN payment deadline and then missed a further 2
more payments after the default.

 

I then made 3 lump payments to cover the arrears and the agreement continued its course.

 

During this time they sent agents to repossess the goods.

They applied this charge of £300 2 weeks after I made the lump payment.

 

Now I have paid them £3500 in total to date,

but now with the late charges, interest and other fees they have amassed to a further £700+

 

Thanks for any help

[dx100uk]

12 hours ago, dx100uk said:

fees after signing do NOT count toward the 1/3rd sum.

 

no, as I said above...any charged fees after signing do not form a part of the 1/3rd figure, they cant its quoted on the agreement and always must be.

 

so had you paid £1,199.57 by the day they repo'd?

 

 

[TheDude1]

Well I paid this:

 

Advance Payment £226.50 (Deposit???)
Direct Debit £258.95 (£175 Admin Fee??? + £83.95 monthly payment)
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95
Direct Debit £83.95

 

Total amount paid upto date of DN.
£1408.90

 

thanks

 

Minus the admin 175 fee, I paid £1233.90, so if advanced payment included then yes I was just pass the £1,199.57.

Edited February 8, 2020 by TheDude1

[dx100uk]

lets see the agreement please

typically advance payments are listed on the agreement and are taken off before the int is calc'd.

pdf only please

[TheDude1]

thanks dx

pcf.pdf

[dx100uk]

advance payment is in the agreement.

so now list your payments please and the dates you made each one of them ..please don't guess what they were for..

[TheDude1]

thanks dx, here are the payments leading upto the default.

 

25/10/2016 Cheque NO FEE £226.50
25/11/2016 Direct Debit (UK) 258.95
25/01/2017 Direct Debit (UK) 83.95
31/01/2017 Direct Debit (UK) 83.95
27/02/2017 Direct Debit (UK) 83.95
27/02/2017 Direct Debit (UK) 93.95
27/03/2017 Direct Debit (UK) 83.95
22/05/2017 Credit/debit card 96.01
25/05/2017 Direct Debit (UK) 83.95
26/06/2017 Direct Debit (UK) 83.95
16/08/2017 Credit/debit card 94.85
13/09/2017 Credit/debit card 83.95
18/10/2017 Credit/debit card 83.95
24/01/2018 Credit/debit card 283.45

 

thanks

 

Date of DN: 29/11/2017

Edited February 8, 2020 by TheDude1

[dx100uk]

why are you 2 lists different

 

which is correct

 

I ONLY need the date and amount not method

you appears to be hitting wring number keys methinks.

 

I want ALL payment ..nothing to do with any dn date or repo date.

 

simply what all the payments you made to them and its date 

 

dx

 

[Peterbard]

1 hour ago, dx100uk said:

 

no, as I said above...any charged fees after signing do not form a part of the 1/3rd figure, they cant its quoted on the agreement and always must be.

 

so had you paid £1,199.57 by the day they repo'd?

 

 

Yes that's correct. The Figure used is the Total Amount Payable TAP. THis is everything you pay n order to purchase the car. They have no right to charge a collection fee, if the account is terminated, it is their car, they shift it or they dont.

 

Whilst the interest is calculated on the sum loaned the APR includes everything, fees advance payments etc, even insurance, if it is conditional on the sale.

[TheDude1]

Sorry for the confusion, the first list I omitted the charges added on for clarity, the second list is the exact payment made.

 

This is the complete data, thanks

acc.pdf

[dx100uk]

you had paid £1,525.81 in my books at the issuance of the DN

that exceeds the £1199.57.= 1.3rd figure

 

the repo was unlawful - the goods were protected under the CCA.

 

go get all your payments back and an equivalent market value for the car

 

 

 

 

‬

[TheDude1]

Thanks dx

 

It's a trailer not a car, but I guess same agreement.

 

They did try to repo the goods, I wasn't there at the time so they just left, but if they had access they probably would of taken it.

 

I am happy to keep the goods, I just want them to remove the charges and give me the ownership/paperwork.

 

How did you get £1,525.81?

 

According to my calcs, I am only getting £1408.90...

 

25/10/2016 Cheque - NO FEE 226.50
25/11/2016 Direct Debit (UK) 258.95
25/01/2017 Direct Debit (UK) 83.95
31/01/2017 Direct Debit (UK) 83.95
27/02/2017 Direct Debit (UK) 93.95
27/02/2017 Direct Debit (UK) 83.95
27/03/2017 Direct Debit (UK) 83.95
22/05/2017 Credit/debit card 96.01
25/05/2017 Direct Debit (UK) 83.95
26/06/2017 Direct Debit (UK) 83.95
16/08/2017 Credit/debit card 94.85
13/09/2017 Credit/debit card 83.95
18/10/2017 Credit/debit card 83.95

 

1 x 226.50 = 226.50
1 x 258.95 = 258.95
11 x £83.95 = £923.45 (Letter charges & Penalty Interest omitted)

TOTAL = £1408.90

 

Thanks for the help

 

[dx100uk]

thanks for telling use the full story..i like wasting my time..

 

the fact that you were or were not over 1/3rd is totally irrelevant to whether they can charge repo or late fees...

they can't THEY NEVER GOT THE GOODS.

 

 

.

 

 

[TheDude1]

On 08/02/2020 at 11:38, TheDude1 said:

I then made 3 lump payments to cover the arrears and the agreement continued its course.

 

 

I mentioned it earlier "Agreement contined its course".

 

Why would I make a further 3 payments if they did take the goods.... Obviously i would not.

I thought it was obvious they didn't collect the goods....

 

 

[dx100uk]

The taking of goods or Voluntary Surrender, which is what results from a repo, doesn't end an agreement as you still owe the principle sum, hence get ripped off by VS rarher than you doing VT.

 

Dx

[TheDude1]

Ok thanks that makes sense, I should have mentioned I still got the goods, sorry for the confusion.

 

So are they wrong to charge the repo fee given the fact no repossession took place.

And the other fact they had no legal right to repossess anyways.

 

 

[dx100uk]

even if they took the vehicle the repo fee would still be unlawful.

as are any other fixed sum penalty charges

[Peterbard]

Just to add, if they take the car from off your property they need a warrant for that also.

[dx100uk]

and it would have to be a certified bailiff taking the car not a powerless repo agent 

[TheDude1]

Well its over now, I offered a F+F and they accepted it.

 

Basically I agreed to pay the repo fee plus the documentation release fee and they wrote off the rest (Interest fees, late charges etc).