Car Finance

yellowemma

Dear Forum,

I am in a predicament which I am hoping that someone out there can help with. Last year I purchased a car on finance from the bank (£11000aprx). Nievely and very stupidly I did not read the agreement properly when signing up (Lesson learnt on that one). The finance ended up being far too expensive for me and the car was swiftly taken away from me. 5 months after having it taken away I was advised that I owed the finance company £7000.00. They had sold the car (for £7500aprx) at auction and apparently that figure is the figure they had somehow plucked from the sky that I owed them :mad:.

I have written to the car finance company 3 times now, simply asking for a detailed report on how they had come to that figure, a copy of the original agreement and proposals of how they want me to pay them back should that be the actual figure that I owe them. Sounds simple enough .

I have not paid them a dime since wiriting to them first in January, again in February and the third letter in March. I have not heard a single thing .

I know that they will come after me for the money eventually but worry that in the mean time that they are not getting back to me a black mark will be against me on my credit report and the interest will continue going up.

Any ideas?

Yellowemma.

Current Debt
CCard £1100
Loan £3000
Car??? £7000
Total £11100

£4000 of debt paid off since December :T