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  • FIRST POST
    • Anzhelka
    • By Anzhelka 9th Jan 18, 11:17 AM
    • 197Posts
    • 27Thanks
    Anzhelka
    Lloyds bank car finance fees
    • #1
    • 9th Jan 18, 11:17 AM
    Lloyds bank car finance fees 9th Jan 18 at 11:17 AM
    hello. i received a letter from Lloyds bank yesterday, which says that i owe them INVESTIGATION REPO FEES of 1000, but i don't have any payments overdue. what does that mean , please can anyone explain?? i tried to ring number on the letter about 8 times and it's doesn't work and have no chance to get to the bank until Saturday. maybe someone knows what these can be?
    ***Twins mummy***
Page 2
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:02 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    You don't seem to be getting this, the person you sold it to doesn't and never owned it. You are still on the hook for any charges incurred as the finance agreement is with you and has not been settled.
    Originally posted by TadleyBaggie
    ok, maybe i don't get this. what should i do now? i mean i will pay that fee , what are my next steps? how to avoid this car being taken away from the person who is registered keeper at the moment, as they are not aware that it's still under finance.
    ***Twins mummy***
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 12:02 PM
    • 2,778 Posts
    • 2,094 Thanks
    TadleyBaggie
    i also rang them twice saying that i'm selling car and they said that it's fine if i have notified them.
    Originally posted by Anzhelka
    It would be find if you duly settled the finance after the car was sold.
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:03 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    They may or may not reposess - that is not your concern.

    Your problem is you sold something you had no right to and Lloyds have incurred costs tracing their asset which you are now liable for.
    Originally posted by BoGoF
    is not possible that the car sold to me was already repossessed from somebody and i'm paying their fees?
    ***Twins mummy***
    • BoGoF
    • By BoGoF 9th Jan 18, 12:04 PM
    • 3,215 Posts
    • 2,537 Thanks
    BoGoF
    Your next steps are you pay the fee. Anything beyond that is not your concern.
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 12:05 PM
    • 2,778 Posts
    • 2,094 Thanks
    TadleyBaggie
    Begs the question why whoever "bought" the car didn't do an HPI check. If it was a company they probably thought you would settle the agreement.

    You need to talk to the finance company ASAP.
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:08 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    Begs the question why whoever "bought" the car didn't do an HPI check. If it was a company they probably thought you would settle the agreement.

    You need to talk to the finance company ASAP.
    Originally posted by TadleyBaggie
    I tried to reach them for 2 days now - all phones are out of the order, spoke even with their technical support - car finance numbers are not working :/
    ***Twins mummy***
    • TadleyBaggie
    • By TadleyBaggie 9th Jan 18, 12:12 PM
    • 2,778 Posts
    • 2,094 Thanks
    TadleyBaggie
    Then write to them. Do they have a email address or even a Twitter account?
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:15 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    Your next steps are you pay the fee. Anything beyond that is not your concern.
    Originally posted by BoGoF
    i will pay the fees, it will be cheaper anyway rather than keeping that car.
    ***Twins mummy***
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:16 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    Then write to them. Do they have a email address or even a Twitter account?
    Originally posted by TadleyBaggie
    No, there was just phone number, which doesn't work. what should i write to them? just explaining all situation ?
    ***Twins mummy***
    • Anzhelka
    • By Anzhelka 9th Jan 18, 12:23 PM
    • 197 Posts
    • 27 Thanks
    Anzhelka
    also when I log in to my car finance account (this was suggested on the letter) - these fees are not showing there, is that suspicious?
    ***Twins mummy***
    • Lucky Duck
    • By Lucky Duck 9th Jan 18, 1:53 PM
    • 173 Posts
    • 91 Thanks
    Lucky Duck
    Begs the question why whoever "bought" the car didn't do an HPI check. If it was a company they probably thought you would settle the agreement.

    You need to talk to the finance company ASAP.
    Originally posted by TadleyBaggie
    Every time I have traded in a car the contract has stated that they will settle the finance fand that the difference between any outstanding allowance and the agreed px value will credited to the new purchase so I don't understand how the OP can have traded it in and continued with the payments unless they didn't own up to it being on HP and the garage didn't check.
    • marty2be2000
    • By marty2be2000 10th Jan 18, 7:56 AM
    • 202 Posts
    • 111 Thanks
    marty2be2000
    How long ago did you sell the car?

    When you sold the car, any money you got for it should have been paid to the finance company plus any shortfall between what you sold it for and the settlement figure provided.

    Since you have sold an asset which is secured against the loan agreement, and not payed the agreement off in full at the same time this is where the problem lies.

    When you contact Lloyds they may well want not only the 1K fee paid, but also the full remaining balance on the agreement.

    Or Lloyds have already repossessed the car and you may also find the dealer you sold the car too is also going to be chasing you for their money back.
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