VT confusion

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  • motorguy
    motorguy Posts: 22,479 Forumite
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    BoGoF wrote: »
    You need to formally complain to them and ask on what basis they are pursuing you for the shortfall and where in the contract this was stipulated.

    Actually, yes, if my step (a) fails to produce clarity for further steps then yes, i'd raise a formal complaint with them as above.
  • Clive_Woody
    Clive_Woody Posts: 5,855 Forumite
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    I've seen a few threads on here and the loans board in recent weeks all telling a similar story of people VTing cars with Barclays and then getting a bill from a debt recovery company several weeks later for a shortfall when the car is disposed off at auction.

    Similarly there seems to be mixed messages about whether this cost is due to excessive wear and tear or down to the fact they took a hit on sale price by putting it through an auction.

    Either way it sounds like Barclays are routinely doing this and hoping people will just pay up. It all sounds very dodgy to me.
    "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
  • Chlonatben
    Chlonatben Posts: 24 Forumite
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    Motorguy - Do you know of any templates for these sorts of letters?
  • motorguy
    motorguy Posts: 22,479 Forumite
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    Chlonatben wrote: »
    Motorguy - Do you know of any templates for these sorts of letters?

    There are people on here who would be better placed than me to advise (and maybe on other sub-forums too), but when we'd an issue with our mortgage my wife asked the agent to invoke the complaints process as she wanted to raise a formal complaint and i think they are obliged then to do that as they are FCA regulated.

    Can anyone give advice / direction for the O/P?
  • Ectophile
    Ectophile Posts: 7,368 Forumite
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    It's generally easiest just to phone the credit company and tell them you wish to make a formal complaint. that should get them to start their complaints procedure.


    If you hear anything more from the debt recovery company, tell them that the debt is in dispute, and they must refer the matter back to the finance company. Don't deal with them any further.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • Chlonatben
    Chlonatben Posts: 24 Forumite
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    Formal complaints letter sent to them through Resolver whom I got through this site. Lets see what happens!!
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