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  • FIRST POST
    • Lamplighter
    • By Lamplighter 24th Dec 17, 12:20 AM
    • 26Posts
    • 5Thanks
    Lamplighter
    URGENT: Car Finance / want to avoid Repossession
    • #1
    • 24th Dec 17, 12:20 AM
    URGENT: Car Finance / want to avoid Repossession 24th Dec 17 at 12:20 AM
    Hi there

    Urgent advice needed please - thanks in advance.

    Iím 2.5 yrs into a 4 yr vehicle HP agreement with Barclays Partner Finance. I got a couple of payments behind earlier in the year and agreed a repayment plan to catch up over 12 months, which Iíve been progressing. I have already repaid just over 1/3 of the finance value. However, the car is significantly over its agreed annual mileage, and hence my intention would likely be to pay the balloon rather than the mileage penalty at the end of the term.

    I was forced to move house in October (I rent, and landlord wanted to sell with vacant possession), which was totally unforeseen and not budgeted. Whilst waiting for the return of the deposit, I wasnít able to make the November payment.

    I called Barclays on a Friday whilst on a business trip to discuss, and they told me the account had defaulted. I told them I could make the missed payment, but asked if I could call back on Monday to arrange as I did not have my papers with me. I was told that was ok and a note would be put on the file to that effect.

    I called on the Monday, and a different call handler said the account had been transferred for repossession, as missing the payment on the arranged plan had put me marginally beyond 3 monthsí arrears (by about £50). They told me a letter had been sent on Friday. When I protested that I had called on Friday and been told I could call again Monday, and was doing exactly that, they said the call handler on Friday had been mistaken. When I said I could actually clear the entire arrears from the return of my rent deposit, they advised me it was beyond that stage and there is ďnothing they can doĒ. I also said that repossession was surely in neither partyís best interests, given the likely low sale value at auction and my ability to clear the arrears there and then, but I was told the finance agreement no longer existed because of the default, therefore their hands were tied.

    I have subsequently received a letter from solicitors on behalf of Barclays (TLT LLP) seeking payment of the full balance or recovery of the vehicle (voluntary surrender or otherwise).

    Iíve been given 14 days from date of letter, which has actually given me far less time as it was sent to my old address and was forwarded, and also covers the Christmas period. They advise they are instructed to commence court proceedings without further notice to recover vehicle and outstanding payment.

    I received an annual bonus from my employer in my December salary. My situation is that I can clear the arrears in full, and comfortably cover the monthly payment from my income / expenditure going forward. However, if I lose the car, I would face a significant shortfall due to the low value (high mileage) and I would also need to find and pay for an alternative vehicle. I need a car for work, and I have a disabled son. An added complication is that Iím out of the country from next week until mid January.

    Iím looking for advice as to how I might prevent the repossession of the vehicle, either with Barclays, the solicitors or the court.

    Thanks and Regards
    Lamplighter

    Merry Christmas!
Page 2
    • molerat
    • By molerat 18th Jan 18, 11:02 PM
    • 18,593 Posts
    • 12,744 Thanks
    molerat
    As you have paid over the 1/3 they cannot just rock up and take the car, they need an order from the court. They no longer wish to extend you finance just cut their losses and get what they can as quick as they can. They will then chase you for the balance which could result in further court action and a possible CCJ.

    As I see it you have three options :

    1. Pay off the outstanding settlement amount.
    2. Voluntarily hand the car back and take the hit re shortfall and fees.
    3. Put your case to the judge that they are acting unreasonably and you will pay back arrears and keep to the agreement in future. If you lose you take the hit re shortfall and higher additional fees.
    Last edited by molerat; 18-01-2018 at 11:09 PM.
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