Moneybarn - Terminated Contract - won't allow VT. **WON Got VT no charges**

[Carkeys]

Hi, I'm looking for some advice please. 

 

I took out a car loan with Moneybarn back in 2017. I am currently 4 months in arrears with them built up over the last 12 months (I was on furlough for a significant portion of the last 12 months). On the 14th of April, I received two letters from them on the same day one dates the 1st April was a Termination notice the 2nd (8th April) was regarding recovery agents. 

 

I immediately tried to contact them to discuss the letters and my account, Ive been trying for three weeks now without being able to speak to anyone in their customer services dept. I have been in contact with someone is asset management who wont discuss the account.

 

I am off furough now and have paid £400 to my account in the last three weeks I believe the arrears are/were £852.

 

I dont know what my options are and cannot speak to anyone at Moneybarn to discuss them. Am I going to lose the car? (I really cannot afford to lose it for work and to see children who live with their mum)

 

Any help is really appreciated.

 

R

[dx100uk]

you are more than 1/3rd in so they cant just snatch the car. they would have to issue a default notice too and take you to court and gain a return of goods order which you will counter with a time order.

 

should anglia or burlingtons etc who are merely powerless guy's with a flatbed turn up to try and take the car DO NOT AGREE. they ARE NOT BAILIFFS and have ZERO legal power .

 

type moneybarn in our search top right and get reading up.

 

 

[Carkeys]

Thanks DX for the quick reply, I have been reading up since posting. Looks like I jumped into bed with some cowboys! 

 

They have not issued a default notice and there is not default on my credit file (I used checkmyfile). I'll continue making payments and trying to get hold of them. If/when I do eventually get to speak to them, should I do/ask for anything in particular?

 

Again, thanks very much

[dx100uk]

moneybarn make up their own rules as they go along 

pers i would never speak to them send them a letter as they LIE on the phone.

 

might be best to just bulldoze through a time order now

 

 

Time Orders - Financial Legal Issues - Consumer Action Group

 

[Carkeys]

Looking at the time order info, am I right in thinking that

 

1. I need form N440

2. Would I only request additional time to clear the arrears i.e 6 weeks

3. I cant seem to find reference to the actual court fees

 

This is a bit nerve wracking!

 

Thanks

R

[dx100uk]

write to them 1st threaten a Time order say you'll make up the arrears, over xxx dates.

you cant be too far short of completion are you?

 

[Carkeys]

Just realised I wrote 2017, it was 2018. Initial amount was £11,980, there is £6647.20 left.

 

Does this read ok:

 

 

To Whom it May Concern,

I am writing regarding the above account after receiving a Termination of Agreement letter dated 1^st April 2021. (This communication was not received by me until the 14^th of April). I also dispute the fact that you sent me a Default Notice as stated in your letter dates 1^st April.

 

I understand there are arrears on the account, of £600. I would like to offer a payment plan to rectify the arrears and continue to pay my usual contractual amount.

 

Since receiving your letter I have paid £400 via bank transfer.

The arrears have built up due to being furloughed through 2020. I am now off furlough and working full time again.

I am more than happy and able to meet the above payment plan, which taking the monthly agreed amount into consideration will take 9 weeks. I am also able to continue making my contractual agreements until the agreement is finished.

 

My only other option is to apply for a time order through the court.

I look forward to hearing from you.

Yours Faithfully

 

 

Thanks

R

 

[dx100uk]

to date have you not invoked the FCA covid relief order they told all lenders they should  give - everyone atleast 6mts with no penalty.?

[Carkeys]

Hi, I took a two month payment holiday in (I think) June & July last year, my aim was to catch up on arrears during that time, I couldnt but just made smaller payments as I could.

 

Just further to above, I applied for it through the website, they didnt offer it is a possibility. In fact I dont think Ive spoken to them more than twice in 12 months..

[dx100uk]

you should never speak to them on the phone.

 

simply advise you only took poss 2 mts covid holiday and had expected more and have paid what you could to date and are now able to catch up by paying £xxxPCM on these dates.

 

should you fail to assist me i will raise a time order.

 

so the hp agreement was 5yrs 60payments from xxx 2018?

 

[Carkeys]

Morning,

 

Hope you had a good BH.

 

Yes, thats correct although I think, due to the age of the car it was 57/58 payments. I did try to find my original contract over the weekend but several moves and a divorce....

 

I have rewritten the letter as you advised adding the following:

 

"I took two months of COVID relief during the pandemic as I was under the assumption I would be back to work by September/October last year. I did not realise I could have taken more of the gov support. During this time, I made small payments as and when I could.

The arrears on my account as of today stand at around £400. I will continue to pay the £100 per week as I have been doing until the end of May, when the arrears will be clear and my normal payments will continue as agreed."

 

I'll get that sent today. Should I email a pdf copy to them too do you think?

[Carkeys]

Just an update. I emailed the complaints team with a copy of the letter and received this today, looks like an automated message but not sure...

_____________________________________________________________________________________________________________________________________________________

We take all complaints very seriously and will fully investigate the issues you’ve raised in an attempt to reach an agreeable resolution.

 

What will happen next?

 

Your email has been forwarded to our complaints department and they will send you a letter in the post acknowledging your complaint within 5 working days. The letter will provide you with details of our complaints process and timescales, and the name of your dedicated complaint handler who will investigate your case fully. It will also confirm their contact details, and they will be your point of contact in case you need any information or updates on your case, or for any questions or concerns you have about the complaints process.

 

Please maintain your finance payments

 

It’s really important that you maintain your normal monthly vehicle finance payments while your complaint is being investigated. If the nature of your complaint means that you believe you are unable to make your payment, please call our Customer Services Team on 0330 555 1230 so we can understand your circumstances and talk through your options. We’re available Monday-Saturday, 8am-5:30pm.

 

Kind regards

 

Amy

 

 

 

[Carkeys]

Just an update, still not response or contact from Moneybarn, Ive carried on making the payments as I offered, I cant see what else to do... Cant believe they can just leave people hanging in limbo

[dx100uk]

yours is not the next move.

 

[Carkeys]

Hi, just a quickie, ive nearly paid back the arrears, and I'll carry on making the normal payment after that. Just looked at my credit file and they've marked the account as "delinquent". Is that as bad as a default? Is there any way to get it removed?

 

 

Edited May 28, 2021 by Carkeys
**edit: I cant seem to find much information about "delinquent" online***

[dx100uk]

used that word or just 'D'

[Carkeys]

Doc1.docxThats a screenshot, its only on Transunion, the other two just show arrears

 

[AndyOrch]

One and the same really...delinquent is marked when the the arrears exceeds the creditors set time period to correct the default.

[Carkeys]

Great so they've buggered my (already pretty bleak) credit file.... I've worked my backside off rectifying that mess. 

[Carkeys]

Hi, happy Friday...

 

I've still not got anywhere with MB. I've paid all the arrears so not a lot they can do. 

 

My question is, I'd like to VT the car as I've well past 50%. (Looks relatively straight forward from my end). Only problem I can see is they have terminated the contract, does that affect my ability to VT? I suppose I'm trying to voluntarily terminate a terminated contract...

 

 

Edited July 2, 2021 by Carkeys
Typing on a phone

[dx100uk]

correct, but try.

there is a vt letter in threads here.

 

 

[Carkeys]

Cheers DX. I think I'm p******  in the wind but will have a go with the VT letter. 

[dx100uk]

have you ever read a few threads in our same forum as yours? you should be..

 

the pdf's in this one ring a bell...

 

VT, balance and credit file. - Moneybarn Issues - Consumer Action Group

[Carkeys]

That looks promising!

 

In my opinion they terminated my contract with no notice at all. I received no default letter (they have my correct address). Only contact was in May 2020, where I said I'm on furlough and could only make reduced payments, they then came back and offered payment holiday. I foolishly only took 2 months (I assumed covid over by Oct and I'd be back on track). Fast forward to Apr 21 and I get a termination letter. I was roughly 4 months behind on payments. 

 

I've been unable to contact them since. I raised a complaint which is 56 days old and they've no resolution.

 

Monday last week I received two letters (I'll upload in a bit once I remove my details) one was the complaint unanswered and one was a statement of arrears (the full outstanding balance) the arrears letter reads as though they've already repo'd the car! (It's on my drive).

 

As its 56 days from complaint I can go to FOS, should I go down that route?

 

(Excuse any poor typing I'm on my phone)

 

R

 

 

[Carkeys]

Just a follow on.. I've been getting some help with a chap from "money matters" he has contacted MB on my behalf re the VT. This is their response:

 

"Moneybarn. So the situation is that after speaking with customer services I have to wait for a call back from Asset Management (which should be in the next two days). They are currently saying that they have followed procedure correctly and that they have been unable to contact you when a call back was requested. They say the default notice was issued on 11/03/21 with an expiry of 30/03/21.

 

Although the default notice would have been issued by post, can you look in your email account / text messages to see if there is any reference to such a notice between the dates in March? Apparently it would have been mentioned in email communication to you. (I can't see anything in what you have given to us so far). I've asked for a copy of the default notice. I would continue to make your planned payments to Moneybarn at this time."

 

I'm still adamant that not default notice received. He has requested a copy. Looks like I'm out out luck with the VT. If they produce a copy but I didn't receive it who 'wins'?