We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

No statement no contact in 8 years

Options
mctb
mctb Posts: 2 Newbie
8 years ago my business closed. I handed the vehicles back I had on lease purchase but on the sale it was 11k sort, I went into a DMA but the lease company refused so an a agreement for £50 a month was agreed with interest fees frozen and to be reviewed thats the last I've heard from them 8 years have now past i pay the £50 a month but have not received any statements FCA notices etc. Advice welcome

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 11 August 2020 at 8:15AM
    Ask them how much is remaining.

    It's in your interest to understand how much you owe and they may accept a partial settlement. However, you're under halfway there, based on your figures.
  • Clive_Woody
    Clive_Woody Posts: 5,937 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Sounds like you will have paid around £4800, so there will be around £6200 still to pay. At the current repayment level you have another 10+ years of payments to make. You could increase your monthly payments to clear the debt quicker, but if there is genuinely no interest being charged you don't save anything by doing this.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.