Collector making me pay £3000+ I believe I dont Owe HELP ME PLEASE!!!! WHAT TO DO

Daniel_Turner

Please read the email below that I have send to Credit Resource Solutions and let me know what you think and what options I have,



Hi Credit Resource Solutions Ltd.

My Reference ***********
Account ****************

My Name is Daniel Turner and I am really unhappy, upset and distressed about the resent turn in even of how my debt repayment is going.

I was thinking that I only had a couple more payments to make and than the debit would be clear but turns out in your eyes this is not the case.

I owed Barclay partner finance £8369.75. You guys come along demanding the money and give me the choose of either paying the amount in full. monthly payments or give up the car and pay the difference.

I spoke to Chris about giving up my car. On the phone I was told that I could give up the car they would come along and collect it this would also reduce the amount I owed to Barclay's to £5000. great good way to make the debit small. So thinking that giving up the car was a good way to reduce the debit that is what I went with. So April/May time the car was collected also in April I made a large payment of £1000. From my point of view the debit was down to £4000. Was happy I was down to half the amount I owed. A very good start to paying of a big sum.

with thing I only owed £4000 at this point I agreed to pay £170 Per month the pay of the remaining amount plus I was also expecting a chunk to come off the when the car had sold.

by now I have made monthly payments totaling £1,530 meaning that I only had £2,470 left to pay. Recently I phone up to find out how much my car had sold for which was £2000. that good means I only have £470 left to pay. pretty much nothing a couple of more payments left and then I am paid up a massive weight of me.

I wanted to here from you how much I had left too pay so I asked on the phone, too my shock and disbelieve I was told that I still had around £3985 left to pay how can this be. I have gone over and over in my head and on paper how can I still owe this much. This has cased me massive problems I have lost sleep every night for the last couple of weeks over it. It is also damaging my family life, me and my partner or not talking and its because of this. It can not go on any longer I need it sorted right away.

The only thing that makes scene to me and what I am sure the problem is caused by is that when I was told that if I give up the car the amount owed would be reduced from £8369.75 to £5000.00 its as not been done which is a difference of around £3000.00

Too me the only way that this can be put to bed is if the amount owed right at the start is in fact reduced from £8369.75 to £5000.00 like I was told on the phone that it would be. This is the only out come that I will be happy with.

Also I have been in touch with Barclay's Partner finance and I would like to know why they know nothing about me giving up the car.

To me to have to pay another £3985 is going to put finance strain on my family and I am not willing to let this happen. I would like someone to call me about this first thing Monday morning this must be resolved in the next few days. You can reach me on either ************ or ************ I will look forward to your call.


Thank you for your time and I hope you can understand this from my point of view.

Many thanks

Drp8713

Why don't you ask them for a breakdown of the debt and what has been repaid?


I am guessing you are paying charges and or interest along the way. I can't imagine they would make much money if they paid for auctions to sell your car/ people to arrange it etc all out of their own pocket.

HHarry

Dan,

You're going to need to ask for a breakdown of your account. If you've been in arrears at any point then there will be all sorts of fees and charges you haven't allowed for.

The only thing I would say from your post is that when you handed the car back the balance was reduced from £8369 to £5000 - I'm not sure that you can also expect the £2000 selling price of the car to be credited to your account as well.

andyfromotley

So can i just check
1. You give the car back, your debt reduces to £5000 - why??
2. You have taken no account of interest on your calculations - Why?

Ask for a breakdown of your debt.

sourcrates

As above, you need to request a statement of account from BPF.
You need to make the request in writing, not on the phone, chances are they have added default charges to the debt, so you need to either find your original agreement, or request a copy.

It will state on the agreement what they are allowed to charge you, basically if they have charged you over and above what is stated, then you will have cause for complaint.

I can sympathise with this, as my ex wife's mother has been ill in hospital with cancer, her mind is all over the place at the moment, she missed the last two payments on her car, every other payment was on time, they now want the arrears of £400, fair enough, but another charge of £800 has appeared, I am currently trying to find her agreement and have requested a statement.

I'm damm sure a charge of £800 quid has got to be laughable for literally been one month late, so follow above advice and you will be a little clearer on what has gone on, you then need to post back for further advice.

spicefox

Reducing your debt to £5000 would have been by the sale of the car, which you've taken off again at £2000, it doesn't reduce your balance twice

I think you've misunderstood along the way.

Sazzie23

I agree with Spice, I think the debt was reduced by £2000 minus charges for sale of car, obviously they or someone valued it at a bit more,than that which is why they thought the debt would go down to £5000.

A breakdown of the debt is the way to go, of,course the increased amount outstanding is quite a shock, but you've come this far with it, don't let it throw you off now.

Poppops

If they reduced your debt to £5000 because you returned the car, and only sold it for £2,000, haven't you actually got away with paying (£8,369.75-£5,000-£2,000) £1,369.75?