Motonovo Finance, 5 out of 60 months left. What are my rights?

Larry123

Morning everybody.

I have a work van on credit with Motonovo (Carlisle Finance). My final payment is in September. My standard arrangement is £370/month. I ran into heavily into arrears over winter due to lack of work and the account was handed over to Credit Style who threatened to repossess the vehicle back in Jan. We came to an arrangement of £600/month for 6 months to clear the arrears. This is completely unaffordable but I felt like I had no choice.

Since this arrangement was agreed, I have made 4x payments of £600. £370 + £230. Aprils payment is now overdue and I cannot afford the full £600. I can just manage to make the standard payment. They are not showing any willing even though I have made 4 payments of £600 and I am only 5 payments off clearing the entire balance (2x £600 & 3x £370). They have explained that if I do not make the full payment of £600 by the end of today, they will be repossessing the vehicle as of tomorrow. The payment was technically due of the 14th of April. It is so frustrating as I have a huge job starting tomorrow that will earn me enough to clear all this crap but everyone needs their money now.

What are my rights here as I am so far into the credit agreement? Can they repossess at this stage? Are they obliged to give me a break or at least let the arrears carry over for one more month? Obviously I need the van, and tbh, I am working away so they won't find it lol. But joking aside, I want to pay them, I want to own the van, I just don't have any bloody money.

Naturally I've had a look around for other information but can't find anything solid. If anyone could give me any more information, this would be much appreciated.

Cheers

SeanG79

Read the T&C's of the agreement.

The following is true if the agreement is an HP or conditional sale agreement and is in your personal name and not the name of a limited company. If you have paid over a third of the agreement, they may not take back the goods against your wishes unless they get a court order.

If they do repossess the vehicle without a court order and against your wishes, you have the right to get back any money that you have paid under this agreement.

Larry123

SeanG79 wrote: »

Read the T&C's of the agreement.

The following is true if the agreement is an HP or conditional sale agreement and is in your personal name and not the name of a limited company. If you have paid over a third of the agreement, they may not take back the goods against your wishes unless they get a court order.

If they do repossess the vehicle without a court order and against your wishes, you have the right to get back any money that you have paid under this agreement.

Thanks. I've taken a look and it looks like they would need a court order to repossess. Given the fact I'm due in court about 4 times in the next 6 months, this is something I'd like to avoid. I have manged to persuade them to take the £370 today on the promise that I can clear the arrears at the end of May (when I get paid for this job). Hopefully I can follow through with that promise.. but we'll cross that bridge when we come to it. Sorted for another month at least..

SeanG79

Good luck.

loco3978bws

I also hav eha dproblems with Motonovo finance.I took out acar finance with them on 26/04/2014 and I cancelled it on 27/04/14.they say I am still reliable for th ehp until garage pays them the finance back which they havnot done.Any idea son what I can do ?