Welcome Finance Terminate HP - WHAT!!!!!

kirstycobie

Hi, any help would be much appreciated.

i took out a car HP with WF in Dec 07. whilst on maternity leave last year i missed a few payments but they agreed that i could pay an extra £30 pm from sept 2009 to cover this and this would end my contract on the original date - Dec 2011. this was fine for me, and i have not missed any of these payments since then......
last month i received a letter from them (first ever) Default notice and seeking possesion letter, thought nothing of it since they agreed to the £30pm and no payment had been missed, thought it must be a mistake. and totally forgot about it.......

TODAY i receive a letter Post Termination Notice which said 'The above account has now been terminated. your liability is to pay us £4913.92 immediately. By way of concession if you pay £203.17 pm in discharge of that liability we will suspend repossession of the vehicle however your liability will be the total amount payable less payments made at the date of termination less the statuary rebate.

What on earth does all this mean??? also why have they got my original payment on of £203.17 when i have been paying £233 for the last 7 month?

Also, i am over the half year mark and more than half the car has been paid for - not sure if anyone needs to know this.

Id be really greatful for any help on this matter.

[Deleted User]

if you are over the half way mark afaik you can now hand the car back to them

kirstycobie

hi, thanks for the reply.

thing is i dont want to hand the car back, i need it to drop kids off at nursery and then get to work and getting the bus would mean having to get three bussess before ieven get to work then by the time i finish it would go over the time that the nursery closes and i dont have anyone else to pick up kids.

paulmcerlean

woodbine wrote: »

if you are over the half way mark afaik you can now hand the car back to them

Not if the agreement has been broken you cant.

molerat

paulmcerlean wrote: »

Not if the agreement has been broken you cant.

Which is probably why they sent the letter. The OP no longer has that option. The finance co are just securing their income.

sandean

hi
Really need help, received letter from Welcome /finance "without prejudice" in order to protect our interests your hire purchase account has now been terminated, and full balance is now payable!!!
I have rang Welcome this afternoon to be told that they have applied for a court order for repossession, I advised that we have only 7 months left on agreement out of a 4 year hire purchase loan, WF advised that we have arrears of £609, December 2008 we made an agreement to pay an extra £20 per month and this would cover arrears, now they want all the payments and will not let me pay extra each month!! I was told by call taker that welcome had gone bust and were winding down over next 2 years, so i said basically this is the company making sure they get their money and he agreed. I was also told that i have no right to appeal with court even though i have paid £340 per month forover 3 years, IS THIS RIGHT??? ARE THEY ALLOWED TO DO THIS???

PNPSUKNET

everyone has the right to appeal and attend the court

kirstycobie

hi, looks like loads of people have been getting these letters from what ive seen on other discussion forums aswell!
i really dont know where i stand on this, dont no wheather to cancel my direct debit seen as though they have terminated my contract, if i cancel it it wont look good on my half but if keep it going whos to say that the money each month will come off my balance or disapear! ive got 21 months left on mine.

any advice would be great! thanks

sandean

have you contacted them regarding letter, i rang today but got nothing much from them and i was told i couldn't appeal which i think is strange!!

kirstycobie

no i havent rang, not sure wheather to ring or write letter but dont know what to put in letter. i know that they cant just take car without a courtorder but if they do they are breaching regulations and would owe me back all the money i have paid plus a car to the same value plus 8% interest. but if it does go to court and i can prove i can pay for this surley that would go in my favour?? not sure how it all works.

WF have got 2 years to recoup as much money as they can so i guess this is how they are going about doing it.

sandean

well basically the guy i spoke to said that is what wf are trying to do, we have paid over £12,000 and that letter we received (it sounds the same as yours) he told me that they have applied for court order and that the court won't even contact us, because now there is no hire purchase agreement so we don't have a leg to stand on!!! I asked why they still took money out of my account and he said they will keep taking it that it is up to me to stop direct debit!!! like you i dont know what to do but i am going to ring ombudsman in morning