Debt Collector sitting outside my home

VEE_2

Thanks. I will take advice tomorrow. It seems such a shame to lose my car for two months of payments missed especially since after auction and all the interest for the entire agreement i will be left owing them 5/6k for no car!
Still if i am unable to pay and they won't accept an arrangement then it looks like i will lose the car and so i would have to hand it back.

VEE_2

Yep, although i wouldn't dream of such a thing i'd be too scared!

Dumbledore55

I don't really know where you stand legally, I was just worried about you in case he was still outside.

I don't like his tactics much.

I hope you manage to get an new agreement with them, good luck.

DD

VEE_2

Thanks DD. I am a little anxious about things but although it may be cowardly i am just going to avoid going out/ dealing face to face and try to do what i can over the phone.
I agree regards his tactics especially since he has let down the car tyre [well someone has!]. I am a little intimidated but i'm going to try and pretend i'm not!
I will try and get the details of the actual office tomorrow and see if they will accept some kind of arrangement but i have a feeling they want the car.
Its actually only done 700 miles.
Thanks for your advice.

Luvly.cuppa.T

Hi ya VEE. Fraid I don't have any useful advice of my own- it's best to do what everyone else is saying and get right on to it tomorrow!

I just thought that I would say that you're not alone and the best of luck with it all.

Let us know how you get on.

Oh, an afterthought, could you look on the internet about Capital bank and their policies? It may be clearer there......

ffs

Don't hand over the keys. If he is an agent of the finance company then he should have been given keys by them. If he has no keys that is their problem. A friend of mine used to occaisionally repossess cars, usually when no payments were made (or perhaps only one or two), I even went with him on one occaision but we couldn't find the car.

VEE_2

Hi

Thanks very much for that. It really is so worrying and i am really embarassed at the state ive managed to get myself in. If i lose the car then i lose it i guess i will just have to live with it.
I'm reading the national debtline factsheets now for some info, there are a few subjectives as to what premises constitute and whether my agreement has been totally terminated or not.. i will seek clarifcation though.

I am in debt up to my eyeballs, they were throwing credit at me a year ago, but now i've been out of work i have realised what happens when you can't pay and make the minimum repayments anymore.
Suddenly i'm not treading water anymore.
Maybe it's what i needed to happen to ensure i don't treat any kind of debt lightly ever again, even a seemingly low car payment! Based on recent events i doubt i would ever get credit again anyway!
Thanks for your kind words.

stustu92

Hi VEE,

Have you got any new info today, any new developments at all?

Keep us updated.

VEE_2

Hi Stu

Been on the case all morning. Heres what i've found out so far.
Capital Bank totally refuse to speak to me or answer any questions except to answer one question, the one where i ask if they are allowed to take the car without a court order and they say yes.
However i called a local money advice centre [cccs couldnt help and i cant get ndl still] and they said they are not allowed to reposses the car without a court order despite what capital bank and the debt collector say.
I called the debt collectors office and they for the first twenty minutes said they could take it at will however when i persisted they finally just told me they in fact cant as it's on a private residents car park.
However the debt collectors advise that capital bank have ignored mine and the cab letters because they dont enter into arrangemnets at all. Hence the only arrangement is to pay the missed two payments plus the one due in a couple of weeks plus charges which would total nearly £1000.
If i give them the car i will owe approx 5/6 k to them without a car to show for it.

All in all i am trying to figure out what to do, but basically it seems they won't let you pay the arrears a little at a time or freeze payments for a couple of months or anything.. they seem to want the car.

Cheers

V

crystal_clear

Vee I have read through the thread from start to finish and as it reads you are in a no win situation so here is my tupence worth If I could I would try to stall off the debt collector and then advertise the car for sale ( do this from a relatives address you dont want mr DC coming round as a potential buyer getting keys and scarpering with it ) Any way hopefully sell the car privately and obtain the highest possible price for it then hand all the money to the debt collection agency with receipt and see if they will accept that as a full and final payment ??? that way ok you lost the car but got out of the debt aswell so both parties win here....... I dont know if the DC are in any position to agree FF settlements buts better than a 5-6k debt and nothing . p.s. can take as little as a week to sell the car ???? its gotta be worth a try atleast