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    • mariamaria2107
    • By mariamaria2107 8th Oct 17, 9:01 AM
    • 4Posts
    • 0Thanks
    Can we give them the car after being threatened with a CCJ
    • #1
    • 8th Oct 17, 9:01 AM
    Can we give them the car after being threatened with a CCJ 8th Oct 17 at 9:01 AM
    Morning Everyone,

    We currently have a car on finance the balance ya around £3,700 (originally c£10,000), however both me and my partner got in abit of a mess with finances and defaulted in the agreement. I called to make an agreement with the third party collecting on bahalf or ford originally stating that I would pay x on this date x on this date etc as we really wanted to keep the car. The call lasted a good while and I asked the lady if payments were able to fluctuate, I even said, so we could pay nothing for one month and pay double another abd she exaplaibed that provided the outstanding balance was received within 12 months we were free to make payments how we saw fit.

    After being told we had 12 months to clear the balance with different payment amounts and when etc we agreed to leave the car finance for now, and concentrate on paying off bills that had interest and would benefit us most financially from paying off sooner (eg credit cards etc)

    We received a court summons on Friday which has scared the life out of us to be honest, Iíve called the company, they were unhelpful and rude, said they never agreed anything with us and we have just not paid anything. I asked them to listen to the call where there woman clearly explained I could do this and they refused. I asked for a transcript and they said I needed to write it. After 3 future calls to them, theyíve agreed to listen to the call and will get back to me within 10 working days.

    Weíve worked so hard to pay things off to try and get ourselves financially back on track and begin to improve our credit that a CCJ now would just be so disheartening, Iím not going to hold my breath that they come back and say yes out employee did agree this with you so I know getting them to withdraw the CCJ request is unrealistic. The hearing is in 6 weeks and we donít have the ability to get the best part of 4K in that time, so is it possible for us just to hand it back to them?

    Weíve thought about it and that would be the easiest solution for us, but I donít know if we would be able. Could anyone help?

Page 1
    • molerat
    • By molerat 8th Oct 17, 9:21 AM
    • 17,087 Posts
    • 11,239 Thanks
    • #2
    • 8th Oct 17, 9:21 AM
    • #2
    • 8th Oct 17, 9:21 AM
    Handing the car back depends on the type of finance and depends on the car being secured on the finance. If it is then you can hand it back but that will likely be at a massive cost. If the finance has defaulted then the VT option will not be open leaving only ET and you will be held liable for any shortfall against what the car receives at auction plus costs. More information needed.
    • mariamaria2107
    • By mariamaria2107 8th Oct 17, 9:28 AM
    • 4 Posts
    • 0 Thanks
    • #3
    • 8th Oct 17, 9:28 AM
    • #3
    • 8th Oct 17, 9:28 AM
    Iím not sure what itís called but itís an agreement where there is no balloon payment at the end. We put the deposit down, and paid monthly for 48 months then the car was ours.
    • Tarambor
    • By Tarambor 8th Oct 17, 9:59 AM
    • 1,329 Posts
    • 918 Thanks
    • #4
    • 8th Oct 17, 9:59 AM
    • #4
    • 8th Oct 17, 9:59 AM
    So it was standard secured finance and not a PCP or lease deal then. Voluntary Termination is no longer an option. You can hand the car back but in that situation it would likely be sold at auction and you would be pursued for the shortfall between what it fetched less any costs and what the outstanding balance is. Those costs will include admin fees, the auction house fees plus transportation costs for collecting the vehicle and delivering it to the auctioneers which can be anything north of £1 per mile.

    As for the third party agreement, I find it pretty hard to believe that they agreed that you could make no payment for 12 months and I think you may have got the wrong end of the stick and that a minimum payment was expected but you could overpay if you chose. Certainly that is how pretty much every agreement with a debt collector works and if you say you're not going to pay them for 12 months they're round to take goods away.
    • Nebulous2
    • By Nebulous2 8th Oct 17, 1:06 PM
    • 1,593 Posts
    • 969 Thanks
    • #5
    • 8th Oct 17, 1:06 PM
    • #5
    • 8th Oct 17, 1:06 PM
    What's the car worth? Is the loan secured on the car?

    Selling the car might be an option, as long as the buyer paid the finance rather than paid you. Companies such as We buy any car will give you a baseline for price, allowing you to then negotiate elsewhere. A trade sale to a company or garage will get less than a private sale, but is likely to be the only way that will work.
    • DCFC79
    • By DCFC79 8th Oct 17, 2:08 PM
    • 30,102 Posts
    • 19,052 Thanks
    • #6
    • 8th Oct 17, 2:08 PM
    • #6
    • 8th Oct 17, 2:08 PM
    Hi OP have you looked at your sending and cut back where you can ?

    How did you get into the mess, was it just a combination of different bills at the same time.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • Bedsit Bob
    • By Bedsit Bob 8th Oct 17, 2:34 PM
    • 9,710 Posts
    • 51,000 Thanks
    Bedsit Bob
    • #7
    • 8th Oct 17, 2:34 PM
    • #7
    • 8th Oct 17, 2:34 PM
    Is this finance or HP?
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - £1161
    • iolanthe07
    • By iolanthe07 8th Oct 17, 3:25 PM
    • 4,872 Posts
    • 4,603 Thanks
    • #8
    • 8th Oct 17, 3:25 PM
    • #8
    • 8th Oct 17, 3:25 PM
    Is this finance or HP?
    Originally posted by Bedsit Bob
    HP (which is one type of finance), as explained in post number 3.
    Last edited by iolanthe07; 08-10-2017 at 3:29 PM.
    I used to think that good grammar is important, but now I know that good wine is importanter.
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