Question regarding car loan

Holeypockets

Evening moneysavers,

Not sure if this is the correct place to post so apologies beforehand if wrong.

This question concerns someone I know but I will answer any questions as best I can.

Girl had a car loan - not good interest. Boyfriend has taken the car and the documents and registered the car in his name. She has phoned the DVLA who said nothing can be done, apparently the police wouldn't be too interested either. What she wants to know is what will happen if she stops paying the loan. She can't afford it anyway. Her credit rating is probably shot to bits already as she is not the most responsible of people. Any advice regarding teh car loan? I know it is not ethical/legal? to choose to not pay it, but what are her options?

thanks in advance

bobbie78

I think to sign a car over to someone else the seller has to sign the form, so unless both your names were on it I think you could go to the dvla and police and get the boyfriend in trouble for forging your sig and stealing the car. depending on how much you like him still you might want to give him the option to do the right thing before you do this though as it might be nasty. I would think the police would try and recover the car for you but I have no idea how easy that would end up being.

As far as the loan goes, I would think you are stuffed and will still have to pay.

Is the car still insured by you? can you report it stolen to the police then claim on the insurance, I know you won't get all the money back but it could help.

It all really depends on who the car was registered too and if he forged your sig to get it changed to his name I think - you could say you left the forms in the car so that is how he got hold of it to re-register, but it could all be tricky.

I'm sorry I don't really know the best way to get the car back but if a loan is in your name you have to pay even if you don't have the car.

Holeypockets

Hi, thanks for that.

Yes, the car is in her name and insured by her so it might be worth her going down this route first. He did forge the signature. I have told her to tell him the consequences of not giving the car back but I doubt he will care. She would really like to stop paying the loan. What can happen if she does that?

Skint_Catt

I'd report it stolen to the police.

S_C

Holeypockets

Skint_Catt wrote:

I'd report it stolen to the police.

S_C

that might make things more difficult for her, but i will advise it as a last resort - or as bargaining power to get the car back.

bobbie78

same as any other loan, ccj's bailiff bankrupt:eek: If she is just having problems paying in general then maybe contact cccs or payplan to see if they can work out a debt management plan to repay it in a different way rather than just stop paying it.

Holeypockets

bobbie78 wrote:

same as any other loan, ccj's bailiff bankrupt:eek: If she is just having problems paying in general then maybe contact cccs or payplan to see if they can work out a debt management plan to repay it in a different way rather than just stop paying it.

I'd recommend CCCS or Payplan if I thought she'd stick to it, unfortunatley I don't think she will.

CLAPTON

was the loan a HP or just a loan to buy the car?

Holeypockets

CLAPTON wrote:

was the loan a HP or just a loan to buy the car?

Not sure about that. A car loan I think. She probably owes more than she borrowed. I think the company was Morgan finance???

CLAPTON

its important because if its HP then she doesn't actually own it the HP company does.

Holeypockets

I will have to find out. Thanks for that info.