Apex Credit Management and full and final!

LolStevo

Hey guys this is a bit of a weird one so hope someone can help!:money:

Well my friend was looking to get rid of her car but owed more on the finance than the car was due, at the time i was looking for a car but couldnt get the finance as i was a part time student.

Anyway i agreed to take the payments over and signed a contract my friend and her husband had written just to say i took the payments over. I paid every month and the final payment was march this year.

Anyway my friend had since been in a bitter divorce yet i continued to pay on time. Iv come to sell the car and been informed that there is outstanding finance on the car as we had paid the money into his bank but he had not paid every payment.

Anyway this has now been passed over to Apex Credit management. The car is in my name but the finance is still in his name (i now know this is illegal) but i want to sell the car.

My question is...can I make a full and final settlement to Apex and how much should i offer? the outstanding balance is £719.48 and i obviously dont want to pay too much as i have paid over the odds already!

Hope someone can help!

Thanks guys x:mad:

GeorgeUK

Personally, i would run that one past nationaldebtline.

He was not allowed to sell the car, but did.
He did not make the payments even though you had paid.

So far he has been in the wrong, but if you're not careful, you could land yourself with even more costs.

I would contact him in the first instance as he is the one you have the agreement with. I believe that even though you have paid for the car, it still belongs to the company so they're well within their rights to just come and take the car if he is not making the payments. It is their car until it has all been paid off. If they do not receive the full amount owed, you may lose the car - you may need to take him to court to get back any extra money you have paid.

I would seek advice from nationaldebtline as there are legal aspects to this i am unfamiliar with.

LolStevo

Thanks for your reply!
We have been trying to sort this for a long time with him and getting nowher as he knows he is in the wrong! Our only real option is to pay what he hasnt paid as the car needs to be sold asap.

I was querying also why the debt has been passed to Apex and if this will show on a HPI report as i could ring up apex and just be paying one of his other debts and would never know!

LolStevo

Just an update!

Iv just got a HPI report done and it says ther is outstanding finance with BMW, iv phoned them and they said i would need to pay them directly but they are not allowed to tell me how much! x