Welcome Car Finance - Car Written off - BIG problem

RobertoMoir

wolvesfanuk wrote: »

Hold on hold on...I came for help not personal attack. I suffer with enough mental health issues as it is...I don't need that kinda thing dragging me further down. Advice/help is all I want.

Telling you stuff that isn't what you want to hear isn't the same as attacking you.

wayne99

hello,

If the insurance company paid out to your girlfriend / wife and she purchased a new car with the money then how does this effect your repayments to welcome for the original fincance agreement ?

if you or your girlfriend spent all all the insurance money on a new car then you have no monthly finance spend on that vehicle, so surely the both of you if not just your girlfriend can continue to pay welcome what you were paying them before ? - I say just your girlfriend as she has obviously benefitted massivly from all of this, with you now paying for both new cars effectivly.

a few choices for you:

1) phone welcome and inform them the car has been in an accident and is now considered an insurance write off.

2) carry on paying them what you were paying them before the car was a write off.

3) dont pay them anything, watch the charges mount on the account, eventually get a default possibly get a CCJ and have a ruined credit file for the next 6 years.

i would personally opt for options 1 and 2.

thanks

wayne

clairbear1000

Ok, well if you don't contact them, then they very much probably will come after you. Your girlfriend now has a car with no finance and no risk. I'm sure you are happy and nothing bad is going to come of it, but you are the one with all the risk. She needs to help you with these payments, even a little is better than nothing. Perhaps as someone else suggests she needs to move job or something to make this a little easier. Saving on petrol can be moeny to help with the payments.

kittiej

In all honesty I don't think anyone else posting on here knows the WFS ways of trying to con people.

Have you had your agreement checked, did they add Guard ex into the agreement without your knowledge? Did you buy PPI and GAP insurance?

Have you got your agreement to hand?

PNPSUKNET

kittiej wrote: »

In all honesty I don't think anyone else posting on here knows the WFS ways of trying to con people.

Have you had your agreement checked, did they add Guard ex into the agreement without your knowledge? Did you buy PPI and GAP insurance?

Have you got your agreement to hand?

When you take a car on finance, until its clear it belongs to welcome. They have a right to know about their asset and if at a later date they find the car has been disposed off and them having an investied intrest can land the op in serious trouble.

Welcome would also have a clause in their agreements covering total loss claims, it does also state that you must fully insure the veichle

terryw

PNPSUKNET wrote: »

When you take a car on finance, until its clear it belongs to welcome. They have a right to know about their asset and if at a later date they find the car has been disposed off and them having an investied intrest can land the op in serious trouble.

Welcome would also have a clause in their agreements covering total loss claims, it does also state that you must fully insure the veichle

Yes, this point bothers me as well. Surely the insurance money should have gone to the owner of the vehicle (the finance company) not the person who took out the HP agreement.

housebuyer_abc

wolvesfanuk wrote: »

I just think civility is a small thing to ask for. Once more, I know i'm in trouble - I just want to know the consequences. As for what you said about my "ills" - back off now! You have no clue about me or my illness...and you are out of line. Post reported.

A bit harsh there - you brought your ills into the discussion not the person replying...

They merely responded in the 'cold light of day' stating advice (the fact you don't like it doesn't chnage the fact it is the correct advice)

I think you should unreport the user as they've done nothing wrong

Fiddlestick

wolvesfanuk wrote: »

The new car is registered to her so I have no ownership rights on that whatsoever.

I'm sorry to be the bearer of potentially bad news but that may not be the case.

The person who has legal title to the vehicle is NOT the person "registered" on the V5C - that's just the registered keeper which is NOT the same as the legal owner.

If you bought the car then it's yours, regardless of what name is on the V5C...

Common_Sense_2

this is the (honest) point of view from someone who has worked in the car finance industry for 10 years.

1) it sounds like the car WAS on a Hire Purchase agreement. That means that you hire the vehicle for a certain period of time, then purchase it once you have made the payments. Until the end of the agreement, the car is not yours, but is actually owned by the finance company. (a side point is that the car was registered and insured in your girlfriend's name - this could muddy the waters as this is not really allowed)

2) You must call Welcome and let them know that their (note that word - their) car has been written off. They will probably ask for the money from the insurance company. you will have to 'fess up and tell them that you spent the money on a car instead of paying them off. You will offer to keep paying the monthly payments and they will (probably) agree - i know i would in their situation.

3) ref GAP - yes it possibly was a miss-sale - you would need to check the small print to see exactly why it did not payout. - if it was the case that it didn't payout because of the name on the V5, then you may have a claim of miss-sale against the dealer who sold you the policy. You need to write to them (the dealer) to get this claim started.

now onto the other matters.

Why does your girlfriend work 50 miles away? get her to look for another job closer to home (i appreciate that that may not be easy - but it will certainly cut down on fuel bills!!)

Sell the car you bought her with the money that should have gone to the finance company, buy a cheap, reliable car that is under £1000 and give the rest back to Welcome to hopefully make them happier over this whole saga (they would be within their rights to really hammer you if they wanted to)

Look through the debt free wannabee pages and pick up some tips on how to pay off all your debts (it seems from your comments in your posts that you are struggling financially). And don't stick your head in the sand!

finally - please remember that some of us are posting here as quickly as possible, so some of the posts may appear blunt, but they are honest opinions of the members here.

wolvesfanuk

Thank you common sense2.

I believe it was an HP agreement so I know i've done wrong. I bought it directly from Welcome - from day one they knew that it was registered to her so I do believe that the gap insurance was mis-sold.

I think I will just have to pay them what I was paying them before and say nothing. What I was hoping for was to put them in with the other 12 creditors I have and set up a DMP - I would take from some of things being said that I won't be able to do that. Currently I am paying out in the region of £750 per month on debts - £334 of that is the car finance. A lot of my debts were run up three years ago by my ex wife - she left me in the lurch financially after I walked out on her. I guess I could setup a DMP, excluding the car finance, for the others and get the amount i'm paying out down?

As for the more personal matters of where she works etc - she has a specialised job and has to take the work where it's available. She is not financially well off and I support her and her son all I can. Selling her car now she has it is not an option for a great many personal reasons which I won't go into.

Thank you for the advice given here. I made this mess, now I have to just accept that as much as I hoped I could get all my debts onto a DMP, I can't, and that the struggle will have to continue.