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Car finance debt sold on to DCA
Newbie06
Posts: 215 Forumite
I have just had a car finance debt sold onto Link. I got my first letter off them a week ago and a message on my answer phone asking me to telephone them today.
I am not sure how best to deal with them..
I owe £13,000 on the car, still have the car in my posession.... Have no money at present and may or may not have some money in two months (relying on a sale of a house to go through - but it's dragging and dragging and may not even happen)...
How can I best deal with them? At best I want to keep the car and pay them in a few months, at worst I want to keep the car until a time when I know whether the house sale is going to go through or fail...
Also, what are my rights?? Can they just turn up and take the car away???
I am worried sick and starting to get a little paranoid, like not leaving the back door or any windows open whilst I am in the house....
Any advice greatly recieved,,,
I am not sure how best to deal with them..
I owe £13,000 on the car, still have the car in my posession.... Have no money at present and may or may not have some money in two months (relying on a sale of a house to go through - but it's dragging and dragging and may not even happen)...
How can I best deal with them? At best I want to keep the car and pay them in a few months, at worst I want to keep the car until a time when I know whether the house sale is going to go through or fail...
Also, what are my rights?? Can they just turn up and take the car away???
I am worried sick and starting to get a little paranoid, like not leaving the back door or any windows open whilst I am in the house....
Any advice greatly recieved,,,
0
Comments
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Have a read through the following link, Newbie:
http://www.insolvencyhelpline.co.uk/legal_issues_explained/car_repossession.phpI am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
And, assuming that the car is on hire purchase, you should also read the whole of the National Debtline factsheet on the following link:
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=16_how_to_deal_with_hire_purchase_debtI am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
Hiya,,, thanks for replying...
The car was originally on HP - but as I missed payments they sold the debt onto a DCA - does the DCA automatically take on the same right as the origanial car finance company or do things change??0 -
Hiya,,, thanks for replying...
The car was originally on HP - but as I missed payments they sold the debt onto a DCA - does the DCA automatically take on the same right as the origanial car finance company or do things change??
Were you notified, by the HP Company, that the 'debt' had been sold on?
Who is the 'Debt Collection Agency'?
Dcas must follow strict OFT guidelines when trying to collect against a debt:
http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdfI am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
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