Help needed

RONMILNES

Hi, today I received a letter from ccm instucting me to get in touch asap. I phoned them and they said because ive missed 7 payments for my Black Horse Car Finance they've become involved. They then arranged for someone to visit and make sure we still have the car and to do some kind of report for Black Horse.

The finance was for £13k, the amount we owe now is £4200.

Any advice???

immoral_angeluk

RONMILNES wrote: »

Hi, today I received a letter from ccm instucting me to get in touch asap. I phoned them and they said because ive missed 7 payments for my Black Horse Car Finance they've become involved. They then arranged for someone to visit and make sure we still have the car and to do some kind of report for Black Horse.

The finance was for £13k, the amount we owe now is £4200.

Any advice???

I'm presuming it's hire purchase? How long have you been paying and what was the original term?

RONMILNES

Sorry, yes its hp. It was taken out in march 2007 over 5 year, but in 2009 I was made redundant and we arranged a lower payment until I was back in employment. Iwas out of work for just under a year.

chanz4

they maybe looking at repo, however they have every right to see their asset. Is ccm a repo agent ?

RONMILNES

chanz4 wrote: »

they maybe looking at repo, however they have every right to see their asset. Is ccm a repo agent ?

A Debt Recovery Agency, But they informed me that they cannot take the car because I have paid so much off the agreement?? (not sure about this.)

immoral_angeluk

RONMILNES wrote: »

A Debt Recovery Agency, But they informed me that they cannot take the car because I have paid so much off the agreement?? (not sure about this.)

If you have paid more than 1/3 of the sums owed under the agreement then the lender cannot repossess the car without a court order, so it's a possibility that they want to inspect the car to see if it's worth the cost and hassle to take you to court...