Problem with Ford Credit

tulip28 · 20 November 2012 at 11:11AM

took out HP with Ford Credit just over a year ago and recently sold the car privately and sent a cheque to Ford to settle the finance. The settlement figure was given to me as £6,014.96.

I sold the car for that exact price as I did not want to make any money from the sale just wanted to be able to walk away finance free.

Ford have today called me numerous times as they have now 'recalculated' my settlement figure and they have now worked out that I owe them an extra £280.96?

The settlement figure I was given was valid up until the 14th December. I called and spoke to customer services and was basically told if it's not paid it's going to a debt collections agency and a default will be applied to my credit history.

I dont have the £280 (hence selling the car) even by spreading the payments by three months (the dont spread payments beyond three months that is still £93.57 a month I dont have) How can they even decide after I have paid my settlement fee - do then call me AFTER they have tried to take the payment from my bank... I am so upset and worried now. Has anyone got any advice please? How should I handle this? I really dont see how I can be liable for this extra payment??

I have called them this morning and asked for my full monthly payments breakdown and a letter explaining why I owe the extra when I was given the settlement figure.

I cant afford £280 - or the three monthly payments of £93.57 - anything else I can do - Also I am currently on a DMP. Another reason why I am trying to get myself debt free and back on my feet.

Wywth · 20 November 2012 at 2:31PM

tulip28 wrote: »

took out HP with Ford Credit just over a year ago and recently sold the car privately and sent a cheque to Ford to settle the finance. The settlement figure was given to me as £6,014.96.

I sold the car for that exact price as I did not want to make any money from the sale just wanted to be able to walk away finance free.

Ford have today called me numerous times as they have now 'recalculated' my settlement figure and they have now worked out that I owe them an extra £280.96?

The settlement figure I was given was valid up until the 14th December. I called and spoke to customer services and was basically told if it's not paid it's going to a debt collections agency and a default will be applied to my credit history.

I dont have the £280 (hence selling the car) even by spreading the payments by three months (the dont spread payments beyond three months that is still £93.57 a month I dont have) How can they even decide after I have paid my settlement fee - do then call me AFTER they have tried to take the payment from my bank... I am so upset and worried now. Has anyone got any advice please? How should I handle this? I really dont see how I can be liable for this extra payment??

I have called them this morning and asked for my full monthly payments breakdown and a letter explaining why I owe the extra when I was given the settlement figure.

I cant afford £280 - or the three monthly payments of £93.57 - anything else I can do - Also I am currently on a DMP. Another reason why I am trying to get myself debt free and back on my feet.

Pop over to the Debt Free Wannabe board and post your SoA there (details on how to do this in a sticky thread there)

Lets help you get out of this debt situation asap.

pluto60 · 20 November 2012 at 5:25PM

Hmm, nice wheels on their goalposts.

I'm not a lawyer and this should not be taken as necessarily the legally correct position. But as far as I can see, they offered you a full and final settlement which was valid as long as you paid it by 14 December. You did pay this, so the matter is settled. I can't see how they can then tear up that offer, once you have accepted it and paid the money, and ask for more money. If they got their figures wrong, that is their problem.

So, if it was up to me, I would repudiate their claim for extra money, and tell them that if they wish to pursue it, I will see them in court.

tulip28 · 20 November 2012 at 6:02PM

Exactly Pluto60.

On the other forum a fords car salesman posted a reply to me and told me I was liable to pay as the settlement date - included car payments up and including the 14th December.

I feel like I have been taken for a complete mug.

pluto60 · 20 November 2012 at 6:15PM

tulip28 wrote: »

Exactly Pluto60.

On the other forum a fords car salesman posted a reply to me and told me I was liable to pay as the settlement date - included car payments up and including the 14th December.

I feel like I have been taken for a complete mug.

Which other forum was that?

I think a lot would depend on the wording of the quote for a final settlement. Obviously, the £6,014.96 would only be valid if you paid it by 14 December, if you hadn't done, they could have recalculated the figure after that date. But is there anything to say that they can recalculate the figure after you've paid the amount and before 14 December?

tulip28 · 20 November 2012 at 6:25PM

That's what I am waiting for from them. I have asked for a letter and a break down of all my monthly payments.

To make matters even more confusing I never received my final settlement letter from them.

The other forum was debt free wannabe under problem with ford credit.

CAB_Swansea_Bay_representative · 21 November 2012 at 3:47PM

Hi Tulip28, thank you for your query regarding Ford car credit.
I would suggest you put in a complaint to Ford stating you were given the settlement figure and paid the amount stated within the settlement period. I would suggest you put the complaint in writing and ask them to stop any enforcement/collection action whilst they investigate and put the complaint in writing, keep a copy and send recorded delivery. If you can remember who or when you spoke to them re the settlement figure they may be able to trace the call. I am presuming you got permission to sell the vehicle from Ford as otherwise there may be action taken against you are a vehicle on Hire Purchase does not belong to you until the last payment is made. If you are unhappy with their response or they do not respond at all within 8 weeks you can take your complaint to the Financial Services Authority. You can find more information about making a complaint and dealing with hire purchase debts at www.adviceguide.org.uk.
Hope this is of assistance.

tulip28 · 21 November 2012 at 3:50PM

It was okay to sell I checked first with them whilst I got the settlement figure. I will do as you have advised me - thank you.

tulip28 · 21 November 2012 at 4:19PM

I have spoken with Fords - all their notes are messed up so badly not one of them know what the other has told me. I spoke to a lady called Katherine who then cut me off - then when I got back through less than a minute later she was away from her desk - then she was in a meeting. Unbelivable. I got the address and name of their team leader and requested the account was placed on hold whilst it was investigated - also now today is the last day they can pull the recording. And guess what I cannot listen to the call - what are the chances the result wont be in my favour - even though their OWN notes point the blame at them. This is ridiculous.

Wywth · 21 November 2012 at 6:18PM

Put your complaint in writing to them at:

Ford Credit
Customer Service Centre
Abbot House
Everard Close
St Albans
AL1 2RW

If they fail to respond or do not resolve the issue within 8 weeks, you can take the matter to the FoS

Still waiting to see your SoA on the DFW board btw...

tulip28 · 21 November 2012 at 6:19PM

I have done this today Wywth - thank you x

Problem with Ford Credit

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