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    • HollowCurse
    • By HollowCurse 14th Sep 17, 11:10 AM
    • 2Posts
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    HollowCurse
    Finding a Credit Provider
    • #1
    • 14th Sep 17, 11:10 AM
    Finding a Credit Provider 14th Sep 17 at 11:10 AM
    Hi,

    I took out a loan for a car some years ago and they really hammered me on the payments - 7k car - 10k payback

    Sooooo, I'd like to find out who provided the credit (long since binned the agreement) but the company I bought the car from went bust in 2008.

    Any ideas?

    Cheers
Page 1
    • dunstonh
    • By dunstonh 14th Sep 17, 11:22 AM
    • 89,436 Posts
    • 54,898 Thanks
    dunstonh
    • #2
    • 14th Sep 17, 11:22 AM
    • #2
    • 14th Sep 17, 11:22 AM
    I took out a loan for a car some years ago and they really hammered me on the payments - 7k car - 10k payback
    How is that hammering you?

    Sooooo, I'd like to find out who provided the credit (long since binned the agreement) but the company I bought the car from went bust in 2008.
    If you bought after January 2005, they would hold a copy of the agreement if they still existed. If you bought before January 2005, they would hold on to it for a minimal time.

    The lender would retain a copy, typically 6 years after the purchase and when the debt is repaid. Sometimes longer.

    Why do you want the agreement?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • HollowCurse
    • By HollowCurse 14th Sep 17, 11:39 AM
    • 2 Posts
    • 0 Thanks
    HollowCurse
    • #3
    • 14th Sep 17, 11:39 AM
    • #3
    • 14th Sep 17, 11:39 AM
    Yeah, I think nearly 50% payback on a 7k loans is pretty steep myself

    I don't want the agreement (?) I want to find out who the credit company was that provided the service to the garage at which I bought my car.
    • societys child
    • By societys child 14th Sep 17, 12:19 PM
    • 4,533 Posts
    • 4,824 Thanks
    societys child
    • #4
    • 14th Sep 17, 12:19 PM
    • #4
    • 14th Sep 17, 12:19 PM
    I want to find out who the credit company was that provided the service to the garage at which I bought my car
    .
    Not sure what you're hoping to achieve, but the dealer could have used various credit providers.

    • Moneyineptitude
    • By Moneyineptitude 14th Sep 17, 12:29 PM
    • 19,243 Posts
    • 9,361 Thanks
    Moneyineptitude
    • #5
    • 14th Sep 17, 12:29 PM
    • #5
    • 14th Sep 17, 12:29 PM
    I think nearly 50% payback on a 7k loans is pretty steep myself
    Originally posted by HollowCurse
    So why did you agree to this interest rate and (presumably) PPI?

    You can't complain about the interest you were charged I'm afraid.

    I also suspect that this was a pre 2005 sale so you will have no access to FSCS even though the car dealer has ceased trading.

    The credit provider has no liability for the sale.
    • -taff
    • By -taff 14th Sep 17, 6:33 PM
    • 7,331 Posts
    • 4,727 Thanks
    -taff
    • #6
    • 14th Sep 17, 6:33 PM
    • #6
    • 14th Sep 17, 6:33 PM
    If you bought it after January 2005 you can go to the FSCS. Before that, its a non starter
    • dunstonh
    • By dunstonh 14th Sep 17, 8:15 PM
    • 89,436 Posts
    • 54,898 Thanks
    dunstonh
    • #7
    • 14th Sep 17, 8:15 PM
    • #7
    • 14th Sep 17, 8:15 PM
    We dont even know what the OP is trying to achieve. So,until we know that, its difficult to give any guidance.

    Yeah, I think nearly 50% payback on a 7k loans is pretty steep myself
    These millennials dont realise how lucky they are. Anyone that borrowed in the 80s, 90s and early 2000s would know what high interest rates are like.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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