can someone help me pleaseeeeeeeeeeeee ???

kathturner30

hi.

can someone please help me and my husband??

in 2006 we took out finance on a car, we were struggling to make payments because of the loss of my husbands job.we asked if we could have reduced payments and explained our situation,they refused and told us that we could have a personal loan for £2000 as we were in other debt..they said they would then allow us to make lower payments..we took the personal loan out stupidly in november 2007 and then also signed a new agreement to lower the payments on the car but we could only do the loan jointly,... ... so we have had letters and phone calls askin us to make higher payments which we have refused as our income hasnt changed for the better.... so now this month(2010) we decided that we would down size everythin and make cut backs... so we tried to get rid of the finance on the car with welcome finance by tryin to get a smaller car on finanace with another company... ths company got in touch with welcome and welcome told them that we could only send the car back by volountarily terminatin our contract by payin the value of our car,, they said they would send the value through the post in 10 days....either we could pay a settlement fee of £3,585.86 and keep the car.. before this they told us that we still had till 2013 to pay the car off and without the settlemnt fee we owed them £4.100.00.. (not exact but in the 4000 mark).. and our personal loan settlement fee was over the 1000 mark.... we are really strugglin to make the payments on the car and loan and are cuttin other bills short so the car doesnt get taken away as my husband needs it for work...

can someone please tell me were we stand in regards to cancelling our accounts... ive heard different stories of ppl takin them to court and gettin the debt written off and ppl payin £1 a month.... i dont want debt collectors at my door i just want rid of the bloody thing its causin problems for me and my husband personally aswell as finacially.... help !!!!!

Peelerfart

I think the Debt Free board may be a better place to post.
It sounds to me like the problems are a little bit more than just a car loan

Good Luck

PF

zppp

so we tried to get rid of the finance on the car with welcome finance by tryin to get a smaller car on finanace with another company...

By making reduced repayments, this will have serverely affected your credit file. For Hire Purchase they will recover the car if you default and yes you may make a token payment if the court agrees, but you will not get credit until it is paid off + 6 years.

I agree with Peelerfart though, post up on DFW.