Desperate Help needed Welcome Finance

rachy86.w

Hi there,
I got a car through Welcome finance on hp last October,I was made redundant in December and since then had not been able to get a job so me and my partner decided to sell the car as money was low and thought Id get a job soon enough.
I didnt and am now doing an apprenticeship and am on £90 a week.They are asking for car whereabouts and I do not know!I am so worried and stressed and am worried about what will happen,I can make token payments every month but not the £260 they are asking for.They want to re posses a car I dont have.
It is my fault yes but now I do not know what to do.

Thank you in advance

Typhoon2000

I would tell them what happened straight away and plead ignorence (that you were unaware you were not allowed to sell the car). Anything else will lead you into bigger trouble.

rachy86.w

Typhoon2000 wrote: »

I would tell them what happened straight away and plead ignorence (that you were unaware you were not allowed to sell the car). Anything else will lead you into bigger trouble.

Hi! I just wondered ,have you had experience of this yourself?
Thank you

ShEp

Effectivley you have sold a car you don't own.

Ideally you should of used the revenue from the sale to pay the finance off, or have the money in the bank making the monthly payments with it so it never came into question.

I'm afraid this is a bad situation to be in, as the buyer of the car could end up out of pocket too, as iirc they can find the cars whereabouts by way of the DVLA.

As the previous poster has recommended get in touch with them and plead ignorance.

Your in a horrid situation though, as you don;t have the car or the money.

copier_guy

The person who bought the car did not have a HPI check done then?

I think that Welcome could trace the car & reposses it.

rachy86.w

copier_guy wrote: »

The person who bought the car did not have a HPI check done then?

I think that Welcome could trace the car & reposses it.

No they didnt,they were more than happy to buy the car and transfer the funds. I am just worried about going to prison!

barclaysguy

They will do a kepper enquiry with the dvla and talk to the current owner about how they came about the car etc. If you you have paid more than a third they will need a court order to repo the car though. Ignorance has no place in the law, and you did sell a car that you dont own. I would ask how much the settlement figure is and see if any family can help with the settlement - could they take a personal loan for you?

If you are in arrears i would recommend trying to borrow for that, if they have asked out the blue this is would normally mean so has contacted them about the finance on the car and them thinking they own it.

Hippocampus

Was the loan obtained via an HP agreement, or was it a loan, the money having been usd to buy the car?

There's a big difference.

rachy86.w

hp unfortunately....

iolanthe07

The car was not yours to sell - it belonged to the finance company. The new 'owner' will lose his money and the car if Welcome manage to repossess it, and you could be prosecuted for fraud, though I think this unlikely. The person you sold it to would in any case be able to chase you through the civil courts to get his money back, so you could be facing a civil action and a criminal one at the same time.

Your best bet to avoid all this is, as others have said, to plead ignorance and come clean, making the best offer you can afford to Welcome.

PNPSUKNET

putting the fraud part aside. what happened to the money from the car, did you pay it onto the welcome acc?