really upset thanks to welcome finace

one-day

the other week i got told to get my car fix is not worth the cost of the car so i called welcome up upset to see what could happen. the man said because i have paid so much the off they can come and take the car and i don't have to pay anything more back to them.
great i thought well that was until yesterday had a phone call saying a still owe £700 odd pounds my heart went, they said £300 odd in arreas even though i know for a fact there are no arreas as changed pay payment last summer to pay them off so don't know how to go around this
the rest of the money is for my payment protection that i took out, but i'm abit confussed as read the policy schedule about it and one thing it says is:
Your cover provided by this insurance and all benefit payment will end, if any of the following happen:-

• Your credit Agreement is repaid or is due to be repaid, or the date the credit agreement ends (for whatever reason)

also i'm a bit scared as they are now saying an rac man is coming to check out my car before they take it but if i have been told its not worth getiing fixed i can see them not taking it.

i'm really confussed about all this and where i stand as i have never been good with money matters

GeorgeUK

If this was a HP agreement, then i think this will be a voluntary termination.

Have a look at the nationaldebtline site (and give them a call) as this should help explain it a bit better.
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=16_how_to_deal_with_hire_purchase_debt#6

I would suggest that you put it in writing to the company that this is a voluntary termination so they can't claim that they are repossessing the car - which would mean you were liable for the full cost (they would need to take you to court to do that anyway). If you have paid more than 50% then all you need to pay for is "damage" to the car - i think that's over and above normal wear and tear. I would advise you to be careful with this as it seems that RAC put on a blanket price of £500 for this, at least in the cases i've seen. If this is excessive then you may be able to get a 2nd opinion - ask NDL about this too.

one-day

thank you for the advice

rog2

one-day wrote: »

the rest of the money is for my payment protection that i took out,

You may be able to reclaim the Payment Protection Insurance - have a look at the following board:

http://forums.moneysavingexpert.com/forumdisplay.html?f=169

Good luck - Welcome are a pain. :mad: :mad: