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Moneyway - Advice please on car repossession


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Hi,

I wondered if anyone could offer me advice please.

I took out car finance in June 2019.

I missed payments in both February and March last year.

They issued a default notice and have listed on my credit file that I missed 4 payments, not just the two i did miss.

Since then every payment has been made, including the last one last week.

 

In the summer they sent a letter telling me the account had been terminated and that I owed the full balance.

I phoned them to make an arrangement, not realising how bad it was, but they accepted an arrangement where I continued with my normal payments and paid £50 a month extra to clear these arrears.

I messed up with these and didn't pay them (I obviously hadn't set up the standing order correctly and then just forgot about it..)

 

I didn't hear another thing from them until about 2 weeks ago i got calls and texts from someone trying to arrange to repossess the car.

I spoke to the repossession man who was lovely and said he thought it might have been a mistake so I should speak to the finance company.

 

I phoned the finance company and the person I spoke with was generally very unhelpful, but happy to let me just continue this, I'd said I'd clear all of the arrears on payday at the end of January. But she said they were going to charge me the repossession fees,

I asked to speak to a supervisor, and she said none were available but she'd arrange a call back within 48 hours.

I didn't receive one

 

have called again this morning. (I know I should have called before now but I have been so busy with work, I am a key worker and its really busy at the moment) 

 

I spoke with someone really helpful who has gone through everything, then had to get it ok'd with her team leader who has come back and said either i hand the car back or pay the full balance, which I can't afford to do (about £6000).

 

Is there anything I can do?

I missed those 2 payments last year, but since then i've just tried to sort catching up on those and i haven't missed another payment and i'm worried what my options might be.

 

I know if they repossess then they will sell the car for next to nothing and I will have the extra to pay.

 

Plus without the car I will lose my job.

 

Please help x

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you shouldn't be ringing them

everything in writing only from now on 

 

can you name them please?

and you have paid over 1/3rd so the car is protected goods under the consumer credit act.?

 

they can't repo without your consent (DON'T!!) and never sigh anything!!

if you have paid more than 1/3rd they will require a return of goods order from a COURT of which you will be informed of by a court and be allowed to object = the judge will 99% always accept your payment proposals or you do a time order..end of problem.....

 

the 'repo' guy has ZERO legal powers and it NOT A BAILIFF.

the only danger you might have is leaving the car on a public road, they could snatch it.

but if they do, they break the CCA and that voids the agreement and you would be entitled to seek ALL your payments back AND the return of the car (or equiv financial worth today) from them.. 

 

so now you know all the above ,

.....you can see how i bet 100% you've been lied too on the phone to pressure you and all those things said would never be put in writing by 'them' as the judge would eat them for breakfast because they ignored all you rights for their gain through innocence and harrassment.

 

let me guess Moneybarn? Advantage? Moneyway?

 

:pound:

 

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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It's Moneyway, are they always this bad?

I knew they weren't the best, when i took it out i had a poor credit rating and was trying to repair it and was desperate for a car. It doesn't look like i'm getting very far though!

 

I'd read something about the 1/3 bit, but I assumed as they terminated the agreement last summer, July or August I think, that it wouldn't now count? The default date is June.

 

Either way, we've not quite paid 1/3, it was a 60 month agreement so we'd need to make 20 payments.

We've paid 18 I'm almost certain (I might be wrong and it might be 17, the first couple of months were with my old bank account and I don't have the statements from there anymore, although I'm working on that..)

So we're probably 2 payments short.

 

If we paid the arrears, which is 2 months worth, and which is what I tried to pay in full this morning but they wouldn't let me, then we would only be one month short of the third, and that would be taken at the end of the month on payday, and might be the 21st payment.

 

I could phone and make that 2 months payments on their automated system, which should have us exactly having paid 1/3, but i don't want to do that if they would then go ahead and take the car anyway. I literally couldn't work without my car, and would need that payment towards getting me something to get to work if they took my car.

 

In all honesty I thought I had to miss 3 payments before they could issue a default notice, and I have only missed 2. They only claim I missed two payments when I speak to them, but they listed 4 missed payments on my credit file and list default ever since then..

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5 minutes ago, purplenora said:

I'd read something about the 1/3 bit, but I assumed as they terminated the agreement last summer, July or August I think, that it wouldn't now count? The default date is June.

 

how do you know the above?

have you a copy of the default notice and the termination notice letters?

scan them up to one multipage PDF please 

read upload carefully

 

no don't go rushing to pay yet.

have/did you invoked the covid break you are entitled too...don't tell me..they never told you you could have a 3-6mths payment freeze?

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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I don't have copies of either. I know that's a bit rubbish but I just don't know where I've put them, i've gone through my paperwork and can't find them...

 

I remember when I spoke to them in August to make the arrangement to pay that they told me they'd terminated the agreement and it scared me a bit.

 

On the phone today and a couple of weeks ago they kept referring to the fact that the agreement had been terminated.

 

I said this morning I didn't really understand what they meant by that so she gave me an explanation.

She said that the arrangement to pay that I'd agree to was informal and at their discretion and they were not prepared to make another arrangement, which includes the remaining balance being paid off monthly as per the agreement.

 

And no, they didn't ever tell me anything about the covid break either, I didn't realise that applied to anything other than mortgages so its not something i've ever looked into either..

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  • dx100uk changed the title to Moneyway - Advice please on car repossession
2 hours ago, purplenora said:

she said they were going to charge me the repossession fees

unlawful fee they can't.

and any outstanding balance they want you to pay cannot include any of their unlawful fees like arrears, letter, phone, default fee, termination fee, it's raining today - your fault fee...all are reclaimable and an unlawful penalty under FCA rules.

 

make a monthly calendar from the start date (excel will do this)

note each monthly date when you should have paid

put a tick against each one you paid 

 

have you the agreement still?

 

 

 

 

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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I have all the agreement documents, they were all online ones and they're in my emails.

I've been through all of this paperwork today and can't find anywhere the first payment date.

Although I can find the details of the payment.

 

I have a list of all the payments and dates which I've double checked with my bank today.

My problem here is that the first payment I have record of is September 2019, which is when I changed my bank account. I don't have access to my old bank statements, so I am sending them a SAR letter to try and get hold of them.

 

I've double checked this with the account history on my credit file and it looks like there must have been 3 payments made from my old bank account, I knew there were either 2 or 3. We got the car early June, and my payments are the end of the month, so it was either June, July and August payments or just July and August that I wasn't sure about.

 

That would make me having paid 1/3 of the payments if i'd not missed those two months last year, which is what I tried to pay them in full this morning.

 

The payments I missed were in February 2020 and May 2020.

March 2020 payment was made but taken a week late, I don't know why this was, but the outgoing bill is a week late from my bank on 6/4/20, and then Aprils payment taken as well at the end of that month.

All other payments have been made by direct debit.

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they probably charged you for changing bank DD too..

 

so are you indicating that when you got this car on HP your credit file was shot

lots of defaults late payments and other issues before you even signed up?

 

 

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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No late payments, I did have a couple of defaults though...

 

The vet been awake all night worrying about this. What should I do now?

 

I’ve  been awake all night worrying about this. What should I do now?

 

Please help. They’ve come to collect the car now. They’re parked over the end of my drive now and are refusing to move without the car

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Have they got a repossession order ?

We could do with some help from you.

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I don’t know. I’ve had nothing at all in writing other than a text.  They said they’d put it out to the repossession team.

 

Yesterday when I spoke to them on the phone, before I posted on here they left it that they were getting a supervisor to call me back, and they said I had two options, to either hand the car back or to pay off the remaining balance. That was about lunchtime yesterday. I didn’t get a call back.

 

But 7.30 this morning a man turned up and parked over the end of our drive and said he wasn’t moving until he had the car. He said he’d had a phone call yesterday afternoon saying he was to collect it ASAP. I felt really quite vulnerable, especially because the kids were here.

 

I phoned moneyway and she said they could do what they wanted. I said they’d not given me any time to even think about and that I’d still not received a callback from a supervisor, and she agreed but still said they could do what they wanted.

 

I said I’d intended to get a time order, and she said it doesn’t matter because we’ll have the car.

 

The man said he wasn’t going until he took it, and it scared me and embarrassed me so he’s taken it.

 

She also said it was up to the repossession man if he chose to come back, he said it wasn’t and they’d told him he had to get it

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SO have they left now or still sat at the end of your drive ?

We could do with some help from you.

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With your consent and you gave them the keys ?

 

Read here.....

 

https://www.payplan.com/advice/collection-of-debts/creditors/car-repossession/

 

 

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

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Not with my consent. But I did hand over the keys. I was in with my young kids and he said he wasn’t going until I did so I didn’t know what else to do.

 

I’d phoned Moneyway and they said they could do whatever they wanted, I felt threatened so needed him to leave. What should I have done? 


Is there anything I can do now?

I’m not even bothered about the car, although I don’t know how I will get to work, but I know they’re going to bill me for thousands when they sell it for next to nothing 

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There are specific circumstances in which a finance company must obtain a court order in advance in order to be able to repossess your car. For example, if your car was repossessed by virtue of a hire purchase agreement and you have paid more than one third of the total price of the car under the agreement then this means that the car becomes protected goods.

 

" The consequence of this is that a lender is required to obtain a court order to repossess the car – if they do not then you may well have a valid compensation claim as a result.

 

Where the value of the car is less than one third paid or if you gave valid consent for the car to be taken then this protection may not be available to you. The relevant section of the legislation is section 90 of the Consumer Credit Act 1974 and this applies to repossessions that have taken place within the last six years.

 

In addition to being able to claim compensation for an unlawful repossession, where a car has been taken without a court order in circumstances that require one then you might also be able to obtain a release from the liability in the contract (for example the hire purchase agreement), which effectively means that the debt ceases to exist. "

 

https://www.stephensons.co.uk/site/news_and_events/legal_articles/unlawful_car_repossessions#.YBvg4LIYCpp

We could do with some help from you.

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I haven’t paid a third. I tried to pay the extra yesterday, because the 2 months is missed the payments of, but they wouldn’t let me. If I’d paid it then I’d have paid a third

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You should not have handed the keys over.

They had no legal right to take it from your private drive.

But by you giving the keys, its permission.

 

did they show you a copy of the default notice?

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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No. He had a clipboard with a sheet on it. I went outside to talk to him. My little boy came to the door and the bloke looked at him and told me again he was staying there blocking the drive until we handed over the keys. I feel very embarrassed  that I was scared but I was, I felt vulnerable and threatened. 

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Well you'd already been informed here upon what could happen and best how to deal with it, but without taking that in carefully and dealing with it in the correct way, if it happens then sense goes out the window.

 

The only option you have now is to plead with the manager to return the car and accept a time order,

 

you were in trouble for a year and should have dealt with it earlier but were somewhat lead up a garden path by continued p'haps poor advice and help from them.

 

was your credit file shot with numerous defaults , lots of outstanding debt and missed payments when they financed the car purchase?

 

 

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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I know. I was confused with the advice I’d been given here, but because they of what they’d said yesterday and the fact that I was waiting on a call back from a supervisor I was genuinely shocked when they turned up yesterday. Until two weeks ago I had no idea it had gone this far. 
 

When i took the finance my credit rating was poor, but I didn’t have loads of anything on, just a couple of defaults from when I went through a rough patch a while before. I knew it wasn’t the best deal in the world they gave me, but it wasn’t 50% interest or anything. I think it was 18% which I know isn’t great but it’s not amazing. I’d also just returned to work after prolonged maternity leave so didn’t have that going for me.

 

They weren’t interested in the time order. They told the repossession man to collect it today, just hours after I’d tried to pay and told them I was going to go for a time order
 

what should I have done when he was sat at the end of my drive? He said he wouldn’t move until I handed it over

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you call his bluff don't do anything 

he knew he couldn't take it from private property till you give permission

sadly by handing over the keys, you did so.

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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What was the exact agreement total?

How much to the penny have you paid including any deposit ( or px allowance as deposit ) plus any extra payments you may have made?

The number of monthly payments made is immaterial it's the total paid that matters 

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