Car from Cygnet Finance

smegs1978

Hello,

I am hoping to petition for Bankrupcy at the end of August (just trying to get funds together).

I have a car on finance from Cygnet Finance. I have been unable to find this months payment as my children needed new clothes. I rang them 2 weeks ago to say the payment was going to be late as i thought i could get the money together but have been unable to. The payment was due to be paid today so i am sending the letter to let them know.

The finance was done on a "Bill of Sale" so it is my understanding they can legally take the car if i do not pay. Do you think this is likely to happen after 1 missed payment?

Also i never received a copy of the "Bill of Sale", how do i go about getting a copy? Do i need to pay them any money to request this?

I can not afford to run this car anymore, its costing me nearly £400 a month in fuel, insurance and monthly payments. I don't think the OR will have any interest in the car as it is in negative equity. However how do i include this in the bankrupcy, do i contact Cygnet Finance and get them to take the car and then the debt is included, or do i just stop paying and then they will take the car anyway?

Sorry for the long post?

smegs1978

Anyone????

charliedavis

Hiya

We've done this with our 2 cars - one on a lease, one on finance. We missed several payments on each - and one of the cars is STILL sat outside now (I can't even afford to insure it so it's totally unused). We told the OR we couldn't afford them anymore and they dealt with it, contacting the companies concerned. The shortfall then got included in the bankruptcy / will get included in the case of my car that CIT don't seem to want to bother to come to collect it!

HTH.

EnslavedByDebts

Just ring the company and tell them to collect the car. Once they collect it and you have given the bankruptcy details to the finance company they will send a bill to OR for the car then it will get included in the bankruptcy. Be warned though it can take months for the car to be collected.

I had to inform them of no insurance and no tax before they got into gear to collect it. They are a nightmare

EBD

smegs1978

Thanks both for the replies.

I will ring CYGNET later to let them know.

simong75

has any1 got a phone number for cygnet plz i need to find out where they are as i am going to make a claim against them, they repossessed my car and told me they would write the debt off, then 2 years later i receive a solicitors letter saying hey want the money