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asbestross_2
Posts: 18 Forumite
in Loans
Hi Guys,
After some advice on this one, as not really sure how to progress.
In 2006 I took out a car loan with Welcome Finance. Car Valued at £3500, with repayments of £216 per month. I cant remember the apr or specifics as rather stupidly my credit agreement was shredded when i moved house.
I had the car for 19 months, and made every payment on time of £216 a month (£4104). At the end of 2007, i gave the car back to finance company rather stupidly, and having discussed this on the phone with the finance company was told that the vehicle was valued at £3000, and as a result of handing back the car it would clear any oustanding amounts on the finance...so happily I agreed and left it at that.
Around two months ago, I had a call from a DCA claiming to be calling on behalf of welcome finance; chasing an outstanding debt of over £2k. I was astounded at this, and requested all information including copy of the original credit agreement and statement of all payments etc.
I have never received this. But have noticed on my credit file, I still have an entry for this debt for said amount. Can anybody offer advice as to where I stand, and what steps to take? If I legally owe this debt, then i'm more than happy to make payments and clear it...but annoys me that I was informed I wouldn't owe any further amounts: Did welcome just tell me this to take the car back and sell it, thus making more money than i owed?
Thanks in advance guys
Ross
After some advice on this one, as not really sure how to progress.
In 2006 I took out a car loan with Welcome Finance. Car Valued at £3500, with repayments of £216 per month. I cant remember the apr or specifics as rather stupidly my credit agreement was shredded when i moved house.
I had the car for 19 months, and made every payment on time of £216 a month (£4104). At the end of 2007, i gave the car back to finance company rather stupidly, and having discussed this on the phone with the finance company was told that the vehicle was valued at £3000, and as a result of handing back the car it would clear any oustanding amounts on the finance...so happily I agreed and left it at that.
Around two months ago, I had a call from a DCA claiming to be calling on behalf of welcome finance; chasing an outstanding debt of over £2k. I was astounded at this, and requested all information including copy of the original credit agreement and statement of all payments etc.
I have never received this. But have noticed on my credit file, I still have an entry for this debt for said amount. Can anybody offer advice as to where I stand, and what steps to take? If I legally owe this debt, then i'm more than happy to make payments and clear it...but annoys me that I was informed I wouldn't owe any further amounts: Did welcome just tell me this to take the car back and sell it, thus making more money than i owed?
Thanks in advance guys
Ross
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