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Car debt and reposession
Comments
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Just watch out for the voluntary termination, mine wasn't Black horse but I had paid over the amount to voluntary terminate but because I was in arrears they wouldn't let me do that, I ended up voluntary terminating (due to what was said to me on phone calls) and although the car was sold at auction I still "owe" £3k ish for something I don't have
Sorry that should read that I had paid enough to hand back the car with no further liability0 -
debt_doctor wrote: »If half the payments have been made then you can hand the car back and 'walk away' from the deal with nothing else to pay.
read the terms of your agreement carefully ,we handed a car back to carcraft a few years back,we had paid half and the car was in a good condition [serviced /clean etc] after a couple of months we recieved a letter demanding almost £2000 for work they had to do on the car and the shortfall in the price because they sold it at auction!after many months of legal action all we ended up paying was £120 ,my legal rep argued that they chose to sell at auction rather than trying to sell for the best price elsewhere.
in the VERY small print of our hp agreement it states that the buyer would be responsible for any costs associated with returning the car .:eek:This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
in the VERY small print of our hp agreement it states that the buyer would be responsible for any costs associated with returning the car .:eek:
THIS is, unfortunately, so often the case - the Finance Companies deliberately hide terms like this in the 'minute' print of contracts, safe in the knowledge that the customer's mind is totally focused on his 'new toy' and not on the terms of a contract which a 'salesmen' offers him, with one hand, whilst he 'jangles' the keys to the new car in the other. :mad:
Lucky for you that you had a legal representative, CHRIS.
One poster on these boards summed it up in their signature:'The LARGE print giveth and the SMALL print taketh.'
How True.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
i was really lucky cos my legal rep was my lawyer BIL ! my current car is interest free over 5 years !This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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