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  • FIRST POST
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:17 AM
    • 197Posts
    • 27Thanks
    Anzhelka
    Lloyds bank car finance fees
    • #1
    • 9th Jan 18, 11:17 AM
    Lloyds bank car finance fees 9th Jan 18 at 11:17 AM
    hello. i received a letter from Lloyds bank yesterday, which says that i owe them INVESTIGATION REPO FEES of £1000, but i don't have any payments overdue. what does that mean , please can anyone explain?? i tried to ring number on the letter about 8 times and it's doesn't work and have no chance to get to the bank until Saturday. maybe someone knows what these can be?
    ***Twins mummy***
Page 1
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 11:20 AM
    • 2,555 Posts
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    TadleyBaggie
    • #2
    • 9th Jan 18, 11:20 AM
    • #2
    • 9th Jan 18, 11:20 AM
    Are you sure the letter is really from Lloyds Bank, what is the number you are trying to call?
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:23 AM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    • #3
    • 9th Jan 18, 11:23 AM
    • #3
    • 9th Jan 18, 11:23 AM
    Yes, it's from lloyds bank and it has my details (agreement number and etc.), however it doesn't explain why i received those fees, just says that i can pay now or at the end of my agreement. also rang general lloyds bank customer service and they couldn't transfer me to car finance extension, as it wasn't working.
    ***Twins mummy***
    • BoGoF
    • By BoGoF 9th Jan 18, 11:35 AM
    • 2,858 Posts
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    BoGoF
    • #4
    • 9th Jan 18, 11:35 AM
    • #4
    • 9th Jan 18, 11:35 AM
    Have you sold the car?
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:40 AM
    • 197 Posts
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    Anzhelka
    • #5
    • 9th Jan 18, 11:40 AM
    • #5
    • 9th Jan 18, 11:40 AM
    Yes, i have sold, but before that i spoke with them twice and advised, that i'm selling this car and they sent me settlement figures even by post.
    ***Twins mummy***
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 11:42 AM
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    TadleyBaggie
    • #6
    • 9th Jan 18, 11:42 AM
    • #6
    • 9th Jan 18, 11:42 AM
    So have you sold the car AND are still making payments?

    Depending on the finance agreement type, it might not be yours to sell at this point.
    • BoGoF
    • By BoGoF 9th Jan 18, 11:44 AM
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    BoGoF
    • #7
    • 9th Jan 18, 11:44 AM
    • #7
    • 9th Jan 18, 11:44 AM
    If it was an HP agreement it wasn't yours to sell and they seem to have incurred costs to reposess the car.
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:51 AM
    • 197 Posts
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    Anzhelka
    • #8
    • 9th Jan 18, 11:51 AM
    • #8
    • 9th Jan 18, 11:51 AM
    Yes, sold, but making payments
    ***Twins mummy***
    • BoGoF
    • By BoGoF 9th Jan 18, 11:53 AM
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    BoGoF
    • #9
    • 9th Jan 18, 11:53 AM
    • #9
    • 9th Jan 18, 11:53 AM
    Doesnt matter, you didnt own it of on HP
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 11:53 AM
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    TadleyBaggie
    Then I think we have the answer, the finance company have got wind that their asset has been sold and are attempting to (or have) reprocess it.

    So when you sold the car did you not settle the finance?
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:53 AM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    If it was an HP agreement it wasn't yours to sell and they seem to have incurred costs to reposess the car.
    Originally posted by BoGoF
    but how they can repossess the car, if i sold it?
    that letter with fees doesn't say anything how the fees occurred though
    ***Twins mummy***
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:54 AM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    Then I think we have the answer, the finance company have got wind that their asset has been sold and are attempting to (or have) reprocess it.

    So when you sold the car did you not settle the finance?
    Originally posted by TadleyBaggie
    No, i didn't settle as I had to give it as a part exchange, i needed urgently new car. so basically I'm still paying my finance without delay, just without car itself. they didn't send me any letters apart from this , saying that they I have to pay these fees in the end of agreement.
    ***Twins mummy***
    • BoGoF
    • By BoGoF 9th Jan 18, 11:55 AM
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    BoGoF
    They can recover it from whoever you sold it to.

    You have been very naive
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 11:56 AM
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    TadleyBaggie
    They own the car, they can repossess it from whoever currently has control of it.
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:58 AM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    They own the car, they can repossess it from whoever currently has control of it.
    Originally posted by TadleyBaggie
    But they would repossess it from the person , who owns it now? I mean if i'm paying the car finance without delay.
    ***Twins mummy***
    • BoGoF
    • By BoGoF 9th Jan 18, 11:59 AM
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    BoGoF
    Yes they could
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:59 AM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    They can recover it from whoever you sold it to.

    You have been very naive
    Originally posted by BoGoF
    I wasn't naive , but i just didn't read T's & C's probably until the end. i also rang them twice saying that i'm selling car and they said that it's fine if i have notified them. how can they repossess it now from different company?? they probably already re-sold it to somebody else.
    ***Twins mummy***
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 12:00 PM
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    TadleyBaggie
    You don't seem to be getting this, the person you sold it to doesn't and never owned it. You are still on the hook for any charges incurred as the finance agreement is with you and has not been settled.
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:00 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    Yes they could
    Originally posted by BoGoF
    that was a dealership, who got it after me, probably been sold now to somebody else.
    ***Twins mummy***
    • BoGoF
    • By BoGoF 9th Jan 18, 12:01 PM
    • 2,858 Posts
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    BoGoF
    They may or may not reposess - that is not your concern.

    Your problem is you sold something you had no right to and Lloyds have incurred costs tracing their asset which you are now liable for.
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