Welcome car Finance... Help please!!

worriedchrissy

I have been really silly and not kept up with my car payments as I lost my job. I have not made a payment now for almost a year!!..

I have also moved house and as yet not told them... can they track me down??

Also I am thinking that I should call them today to finally face up to my debt as I really really dont want to lose my car. My payments are £289 a month, ideally I would like to get them reduced. Do you think it is too late?? I really really need some advice as to what to say so anything would be appreciated..


help!

~Beanie~

They will track you down eventually so contacting them is probably a good idea, you may well find that they have already passed the debt to a debt collection agency.

I'm not sure that they will reduce the payments, I would have thought they would increase if anything to cover the arrears although you won't know until you contact them.

worriedchrissy

I should really call them today...... Iam scared though.

Robert_Sterling_3

Things do not look good.
If you have missed 12 payments you credit worthiness will suffer.
The least bad option is to come clean I think.

Did you notify the DVLA of your new address?
Did you notify your car insurer of your new address?

worriedchrissy

I just bit the bullett and rang. It had been passed on to debt recovery but I have been able to get my payments reduced!! so suprised....

Far better then going on the run like planned! lol

CHR15

The road may turn out to be rockier than it seems

If the debt has been passed to a debt recovery service, was it them who agreed to reduced payments or the car company (who no longer have the debt)?

It would be a remarkable escape if you get away with it so simply (you do know that you would not have lost your car, it isn't yours to lose).