We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Welcome Finance....Please help!!
I'll apologise in advance for the long post here!
Brought a car from welcome finance in February 2008. Intended to give it back February 2010 as have paid half the term, never missed a payment, and was under the impression I had purchased on HP, as the terms & conditions I have with the vehicle are HP conditions.
In January 2010 I phoned welcome finance at my local branch to be told I had actually signed a credit agreement. Therefore I CANNOT simply return the car. I have to voluntarily surrender the vehicle, it will be sold at auction & I will owe the outstanding. When I questioned my terms and conditions, I have been told "It must have been a paperwork mix up". Because I actually have signed a credit agreement, effectively I've had a loan for the car & don't have a leg to stand on.
So in January 2010 I sent a letter voluntarily surrendering the vehicle. I heard nothing. I have rung on numerous occassions to be told that the local branches have now amalgamated.
I telephoned in March to find out what was happening & was told my account had been closed! I asked if the conversation was being recorded to which I was told "yes" and I then stated I was also recording the phone call, as the customer service (pah) person informed me that they hadn't said this. At this point I was passed to a manager who said "I understand you are recording this call? I have to hang up the telephone"!
I have since written to complain & also give them 21 days to remove the car from the driveway. The car is still sitting here, depreciating in value everyday. They even phoned me 2 weeks ago, asking if I am making a payment on the account as I am falling into arrears!!
So the question is legally, where do I stand?? This is clearly going to adversely affect my credit rating, as it is no doubt showing that I am not making payments when they are due, and hence I am falling into arrears. The car is rapidly depreciating in value, and I am acdtually moving home in 4 weeks & have no intentions of taking it with me. Can I sell the car privately, as I apparently have a credit agreement so the car is technically not on finance??
I am cursing the day I EVER went near welcome finance!!
Thanks for your help in advance!
Brought a car from welcome finance in February 2008. Intended to give it back February 2010 as have paid half the term, never missed a payment, and was under the impression I had purchased on HP, as the terms & conditions I have with the vehicle are HP conditions.
In January 2010 I phoned welcome finance at my local branch to be told I had actually signed a credit agreement. Therefore I CANNOT simply return the car. I have to voluntarily surrender the vehicle, it will be sold at auction & I will owe the outstanding. When I questioned my terms and conditions, I have been told "It must have been a paperwork mix up". Because I actually have signed a credit agreement, effectively I've had a loan for the car & don't have a leg to stand on.
So in January 2010 I sent a letter voluntarily surrendering the vehicle. I heard nothing. I have rung on numerous occassions to be told that the local branches have now amalgamated.
I telephoned in March to find out what was happening & was told my account had been closed! I asked if the conversation was being recorded to which I was told "yes" and I then stated I was also recording the phone call, as the customer service (pah) person informed me that they hadn't said this. At this point I was passed to a manager who said "I understand you are recording this call? I have to hang up the telephone"!
I have since written to complain & also give them 21 days to remove the car from the driveway. The car is still sitting here, depreciating in value everyday. They even phoned me 2 weeks ago, asking if I am making a payment on the account as I am falling into arrears!!
So the question is legally, where do I stand?? This is clearly going to adversely affect my credit rating, as it is no doubt showing that I am not making payments when they are due, and hence I am falling into arrears. The car is rapidly depreciating in value, and I am acdtually moving home in 4 weeks & have no intentions of taking it with me. Can I sell the car privately, as I apparently have a credit agreement so the car is technically not on finance??
I am cursing the day I EVER went near welcome finance!!
Thanks for your help in advance!
0
Comments
-
hi,if your terms and conditions are for a hp agreement then this is what you have.welcome finance try to get out of voluntry termination all the time0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.7K Banking & Borrowing
- 252.3K Reduce Debt & Boost Income
- 452.5K Spending & Discounts
- 241.4K Work, Benefits & Business
- 617.9K Mortgages, Homes & Bills
- 175.8K Life & Family
- 254.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards