Payment made by mistake

Albiedoo

I was a gaurantor for my sons car. He defaulted on the payments. It is now in the hands of a solicitor as it turns out that the loan and insurance was missold. He has not made a payment for 6mths under the advice of the solicitor. I have mistakenly just made a payment on the loan from my own limited company account. They are refusing to give this payment back. How do i stand on getting this payment refunded?

R0bert_Sterling

I take it this Pride & Joy of yours has returned the car back to the garage considering he should never have had it in the first place??

iolanthe07

They are refusing to give this payment back.

I don't blame them, especially if your son has had six months' free use of the car.

Albiedoo

Actually we are waiting for them to pick the car up. They have missold us the loan and charged us interest on the insurance which is wrong. which on a high interest rate this was mounting up quite a bit. We have paid for the car for 3 yrs out of 4 and the accumulitive interest virtually covers the outstanding debt, so before you get all high and mighty know the facts!

[Deleted User]

I do love people who come on here for the first time for advice then get all snotty when its not what they want to here......not !

hullight

You shouldn't stop paying the loan altogether just because you disagree with one part of it.

And if everyone only ever paid back the original balance of a loan, they wouldn't make a profit. Therefore wouldn't offer a loan. Therefore you would have to *save up* for a purchase yourself.

Albiedoo

Woodbine, what advice was I actually given before your comment? All I got was cocky insults. A solicitor told him not to make anymore payments after he defaulted once, he was willing to carry on paying but i repeat a solicitor advised him not to. What I am on about is, are there any rules about me getting my money back for the payment which was paid from a Limited company account which isnt a personal account? If it was a payment from my own account then fair enough but the mistake was made from something completely unconnected with the loan by a girl in work?

Albiedoo

PS the car isnt actually being used as again I repeat myself he is waiting for them to come and pick the car up, again on the advice of a solicitor!

LDJ2009

As far as the loan company are concerned, your Son still owes them the money so until it reaches court (i assume that's where it's heading if they're refusing to budge re the APR etc) and a judgement is made as to who is in the wrong etc, the payment will be taken off the balance owed.

Is this not classed as a voluntary termination though seeing at 3 years of payments have been made or is the Solicitor advising your Son that the credit agreement is void ?

ShaunJUK

Albiedoo wrote: »

Woodbine, what advice was I actually given before your comment? All I got was cocky insults. A solicitor told him not to make anymore payments after he defaulted once, he was willing to carry on paying but i repeat a solicitor advised him not to. What I am on about is, are there any rules about me getting my money back for the payment which was paid from a Limited company account which isnt a personal account? If it was a payment from my own account then fair enough but the mistake was made from something completely unconnected with the loan by a girl in work?

Why not just make the payment you meant to make from your personal account into your company account?

Tixy

The fact that you made a payment from a limited company account will make no difference legally to your ability to get it back.
When you say the mistake was by a girl at work do you mean your employee at the limited co? If so then and you authorised her to make payment it is as if you made payment yourself.
It would be therefore assumed that you have the authority to use the Limited company's money (are you a director/shareholer), and it is quite normal for a director/shareholder to utilise company money and then 'square up' with the ltd co seperately (paying back, salary deductions, dividend declared etc)