Fiat Finance and ever increasing payment demands

Bellio

Morning All,

Just a quickie. I owe 5k on a car that I could no longer afford due to losing my job back in 2008. They sold it for a paltry 6500k and I have been left with the deficit, which is fine, I tool it out, I owe the money. However, every 3 month they demand pay slips, bank stataments etc and up my payment every month, which I suppose is what they do. However I have never missed these payment and another one has come through. Im a bit sick of it and wondered if anyone could tell me a) Can they keep doing this. b) Can I refuse to pay more than what they ask if I am paying something (its not £5 a month either its is more than that).

Thanks for your help

picnic

very confusing post... how much do you owe?? do you have a repayment plan set up with the company?

Bellio

picnic wrote: »

very confusing post... how much do you owe?? do you have a repayment plan set up with the company?

Sorry, Car was 10500.00. They sold it for 6500 and I owe 5200 I had paid it for approx a year at £235.00 per month.

The payment plan is, they tell me how much I have to pay every month, then up it every 3 months based on my pay and outgoing on a form that I fill in. I had an extra £20 the last time, so they upped my payments by £40 ??

Thanks

picnic

I think the first thing I would do would be to speak to either the CAB or a debt information line (there are numbers on here somewhere..) and see if there is not some way you cant get a more 'fixed' payment plan?

we had a simalar problem with a credit card and we endedp up with a default notice. but the payments each month are the same and we never hear of them. more over I called them yesterday to ask for a statment and was offered a £1000 discount on the debt if I paid there and then......

good luck

picnic

http://forums.moneysavingexpert.com/showthread.html?t=2077631
might be some help here???

Bellio

picnic wrote: »

http://forums.moneysavingexpert.com/showthread.html?t=2077631
might be some help here???

Thanks for that

Also just a thought, the car is not even in my name, it is/was in my husbands and so is hte debt, do I have to declare my earnings to them ?

Thanks