Help car being repossessed

GeorgeUK

If there is no way you can afford the payments then it seems the only option you have is a voluntary termination. This would mean that although you may not get anything back, you will not be liable for the remaining payments. I would urge you to contact one of the groups RAS mentioned. The finance company seem to be trying to make you liable for the remaining payments as well as wanting to take the car away so they can sell it. I would suggest writing to them to arrange the voluntary termination but get advice from the companies RAS mentioned to make sure it is done properly. Nationaldebtline should definately be able to advise you.

misspoppy

re the sky know should give it up but my kids would go nuts. Also we dont go out much so tend to watch it - also it gives me better picture.


I dont mean to be rude but who's the parent here? You can drop down to the free channels only and still have cbbc etc and to be honest there is plenty to watch on the free channels. Sometimes we have to make tough choices but you are about to loose your car but can't give up sky?

tallyhoh

I know you have arrears on the car but you also have £75 a month surplus? If you take that £75 pound, drop your sky & cut your grocery bill you will have at least £150 a month spare that you could offer them.

If you do not have the spare cash then you should be keeping a spending diary to find out where its going.

ThePetPsychic

I am in so much debt too, I gave my car up for reposession after 2 years paying on a 4 year deal, because money was so tight, BMW sold it at auction and now I have to pay 7000 outstanding which was the difference., they have agreed a monthly figure which I can afford, BUT they can take my house! if i miss payments.
I had people at my door serving me a letter stating I was NOT allowed to sell anything until car is payed off, I don't sleep now with worry, so I understand your concern honey. BE CAREFUL get advice, they seem lovely on here.:A

hellohello1

Thanks for the advice. Went to the bank today and really no hope of them helping - however, the lady in the bank gave me the number for the union so am going to try them. Also will contact NationalDebtline tonite and see what they say.

re the sky - know am the parent and its not just for the kids. have already cut the grocery bill this month and still no light at end of tunnel.

Will let you know after having spoke to these companies tonite.

Thanks

Aud

RAS

ThePetPsychic wrote: »

I am in so much debt too, I gave my car up for reposession after 2 years paying on a 4 year deal, because money was so tight, BMW sold it at auction and now I have to pay 7000 outstanding which was the difference., they have agreed a monthly figure which I can afford, BUT they can take my house! if i miss payments.
I had people at my door serving me a letter stating I was NOT allowed to sell anything until car is payed off, I don't sleep now with worry, so I understand your concern honey. BE CAREFUL get advice, they seem lovely on here.:A

Have you taken advice frrm any of the debt charities?

Unless the car is on HP, it cannot be repossessed and if you paid half the installments, you should be able to give it back and owe nothing.

Please ring them up NOW.

AMBERSHADOW

hellohello1 wrote: »

help again!!!

George phoned the company and they would not take an arrangement apart from us paying the full arrears today which we cant. They are sending someone out to see us on monday and they want to see the log book. Does this mean that we have given them permission to take the car?

Have not posted since last week as my wee boy been in hosp having an op. Am so stressed out about all this and obviously about my wee man. All fine with him now just need to sort this out. Am going to the bank today see if they can help before contact the colleague assistance helpline. Not sure if can get a staff loan to cover everything cos the rate they offering is 6.4%. Not even sure if they will give us it!

If someone can let me know about letting these people come to the house that would be great. George offered them a lower payment but they said had to come to the house and go through our affairs etc. Am panacking!

Thanks

Aud

If you have paid over one third they have to get court order I have been in this position myself But the courts WON'T make the payments less they have to go by what you aggreed in your payment plan But they can give you a suspended order which means you have to pay your installments or they can take the car.......... But before they do that even it has to go back to court for them to enforce the fact your not paying.

pania

hi hon i'll send you a pm re halifax. that doesn't sound right to me, will help anyway i can. P xx

hellohello1

have spoke to cccs and have an appt on 13th Nov - also spoke to the colleague service at my work - someone calling back on monday. The guy said as you all have that they cant take the car without a court order but we can tell them just to take it back.

Thats what we are going to do. Am going to try and enjoy the weekend and see if monday brings a better day!

Aud
x

pania

ok aud decided to post on here as it may help other people in your shoes. Re what the halifax said about your mortgage and an endowment etc. I work as a mortgage broker and have just handled a case very similar to yours with a client switching to interest only from repayment. Basically Halifax allow you to switch provided that you are able to specify a repayment vehicle such as an isa or similar. They do not check that you are paying into this account or the details of it just so that they can say ner de ner ner if you get to the end of your morgage term and cannot repay the loan. I am sure that this is what they meant when you spoke to them and it is worth calling again monday morning to switch it for now. Just BEWARE that you WILL need to revert back to repayment as soon as you are straight again and beware of teh value of your property falling into negative equity while you were on interest only as you won't be clearing any of the capital.
Hope that helps
Hugs for now
P
xxx