Welcome Finance - Cancelled Hp Agreement

[andy2708]

Hi, in urgent need of some sound advice regarding HP Agreements. I had an HP agreement with Welcome for Car Finance. In February this year I refinanced with Welcome, silly thing to do but was only option. When I refinanced I dealt with the collections department at my local branch. I was told I would have to make a token payment on the account prior to new paper work being drawn up for the new agreement. I paid £165 (which was going to be the new monthly payment), this was collected by one of their employess from my house, paid with cash and I received a written receipt. I gave the chap new contact details for myself and said that I would like to set up a Direct Debit agreement for future payments, I was told no problem and they would be in contact for me to sign the new paperwork. I never heard anymore from them. I wrote several times asking for the new agreement and had no reply. Obviously with no new agreement signed I was not going to pay a penny until such time. Last week I received a default notice for the old agreement saying I owed over £4000 in arrears. I wrote back explaining the above, no reply until yesterday when I received a termination letter for the account and they are now threatening to repossess the car. How can they repossess the car when a new agreement hadn’t been signed and they are acting on the old agreement? They will need to get a court order to repossess, but there is no way I am handing the car back. Anybody able to help on this one. Not sure whether I should contact Trading Standards or the FSA?

[deafandy]

don't forget the office of fair trading...

[andy2708]

Okay, thanks for that. Does anybody else have any ideas on where I stand legally. What if they turn up on my doorstep to collect the car?

[dw190]

Okay, thanks for that. Does anybody else have any ideas on where I stand legally. What if they turn up on my doorstep to collect the car?

 

As long as the correspondence is referenced to the old agreement and you have paid over the required 1/2 (I think is the figure) they will need a court order to reposess.

 

Under no circumstances should you hand them the keys. Just in case they have a set fit a krooklok on the car.