Hi Everyone , i was hoping for some advice , after looking through documentation it seems i was REALLY naive when i took out the credit for my car , i had finance on 10.12.2014 for a renault megane 2007 1.9 DCI To cut it short they charged me £2,350 for the car and the loan amount by credit for cars was £5500 !! i was paying £150 a month , ive paid £2,300 off it , but with all the numerous problems ive had to pay for with the car from the start i stopped paying last month last payment i made was on 17th june and i had to pay via "shopper@worldpay.com a Guy from avelo emailed me 10th june saying i needed to contact them urgently to discuss arrears (he was a negotiations case handler) i gave him a email back and told them when id make a payment he replied saying "sorry our systems have not been updated and could i ask how you will be making a payment ? and can we have your current phone number" i didnt give him my number but id updated them with my new address and he replied back "thank you ive updated our systems and "are you willing to continue paying £175 per month starting from next month?" i never replied then today i had a different person who was "Trainee Case Handler" asking me to contact the office to discuss arrears (the same like before) The reason i am not making payments is because i cannot afford to , the advice im looking for is Can they take the car away from me ? (on the documents i signed it stated that they could not take the goods if payments totalling £1997 have been made then they may not take the goods back against my wishes unless we get a court order) this is the Credit4Cars agreement i signed 2 years ago , also i have noticed that they charged me £375 for a "Stronghold Protector payment assurance system" they said they can disable my car with it as they reckon a device has been attached , the reason why i say they reckon because when i was late with a payment with C4C they threatened me they were going to disable it , i was not in a good way then and snapped back and replied "be my guest as i dont care" (they did this 3 times to me but never disabled it and also when i asked a mechanic to look for it he said he couldnt see anything , when i chose the car the people at trade center where i bought the car said because i have a tracking device my insurance would go down now when i queried with them what make it was for my insurance they would not tell me so i was paying a LOT more than i should have for my insurance , sorry to have gone on and on its just that the cars wheel bearing has gone and it will cost me £200 tomorrow and if they are going to take back the vehicle then i wont get it fixed , thanks for your time any advice appreciated

Hi All I'm new to this site, another matter brought me here but thought I'd ask you knowledgeable bunch about this too (they are kind of related). In 2014 we stupidly had a vehicle from Credit4cars - we allowed voluntary repossession. The balance was removed and the account closed on my credit file but on my husbands it still shows as open with a balance??? Now, I appreciate that there would more than likely have been a shortfall in the auctioned amount and amount owed in finance but the amount on his credit file never changed and why would the balance go to £0 on mine and a closed account yet on my husbands still show as this? What do I need to do to get this updated on his credit file? I note they are in administration so not sure where to go really - contacted the credit reference agency and they said contact creditor. We've had a bad few years financially and we are finally getting sorted - trying to clean up credit files and this looks really bad. Thanks in advance for any advice you can give

Hello I took finance with Credit4cars in March 2015. The agreement I signed includes a total of £13526.38 , in the agreement my right to terminate the agreement states to write to Credit4cars at the address in clause 1.1 yet, that address no longer exists for the company now its in administration and we haven't received notification of an alternative address to write. I understand from the receivers CVR GLOBAL LTD that the company AVELO LTD is now taking payments for credit4cars however the direct of C4C has resigned from Avelo Ltd in March 2016 and now the 1 remaining director is an accountant. As Avelo Ltd is not registered and regulated by FCA they have employed Shoosmiths solicitors LLP to collect payments for them. I cant get in touch with Shoosmiths just diverted to a/machine message and they are not responding to emails. Apparently because they hadn't anticipated the high number of queries etc when they got the loan book. Others are just saying they are a debt collection company. All our payments made since October 2015 when credit4cars were investigated and Fidor Bank pulled out financing - well no payments shown on our files since October. We were asked to set up a standing order to AVELO ltd and we understood this to be a change in name of company not that they were in receivership. The agreement its interests and rights etc have been assigned to this non regulated company Avelo Ltd according to shoosmiths llp however the same letter also states we are in 1 month arrears and we have never missed a payment. I dont know who to pay, when to pay if at all or keep the money aside. My agreement stated that I could VT and hand car back after 50% paid but the figures they have on the agreement do not equate to 50%. Its a few hundred out Really would like to cut my losses and walk away because i dont want to line the pockets of directors etc but im at a loss which way to go forward. The FCA have told me NOT to pay AVELO and pay Shoosmiths yet they havent put that in writing to me when I asked either. Section 2.6 of our agreement states we can repay the agreement sum early by writing to Credit4cars at Supreme House Essex SS13 1EB however, we have not received an address to write to for future now that Credit4cars is no longer using this address as the registered office and, we have not received any notification of an alternative address. I refer to section 11. It clearly states that we are required to pay Credit4cars as per page 2 of the agreement at the address shown on page 2 yet, the company no longer exists at that address and, we have not received notification to pay any other company or address other than the company on page 2. We have not signed any documentation the the contrary. Section 11.9 states you have the right to assign this agreement and its rights and obligations providing you notify us in writing and no change to terms and conditions - We have a tracker fitted to the car from finance company but FCA investigated them for the fact they shouldn't have been immobilizing vehicles and Fidor bank pulled their finance etc. What do you think I should do? Do I continue to send a cheque to shoosmiths in full or wait until they can furnish me with a schedule showing all payments made against my account? What if like others they send a new finance agreement to sign albeit a lower APR? What can shoosmiths do in terms of recovering the vehicle if I dont pay because they haven't given me the information I need to prove to me that my payments are reducing the balance. Can a non regulated company actually take over a finance agreement and instruct a debt collection agency to get the money? Any help is much appreciated Thanks