CAR repo??

[losingwilltolive]

Hi Agin,

I am 4 months behinfd with car repayments---i am fully expecting them to repossess it as default papers were sent to me quite some time ago

could anyone advice as to procedure so i then know what toexpect---can they now simply without notice just come and collect my car

thanks

[caz_1967]

hi, it will depend on how much u have paid under your hire purchase agreement, if you have paid over 1/3 of the balance then they cannot repossess your car without a court order, in this case you would receive court papers from the court giving you an opportunity to respond and make an offer of payment that you can afford, the court will then determine if this is acceptable.

 

if you have paid less than a 1/3 of the balance, the finance company do not need a court order, 1st they will issue you a default notice giving you a chance to come to an arrangement. however if they intend to reposess your car you should receive a notice of repossession 1st.

 

i am no expert on this however i am sure someone will be along soon who can give you more detailed advice.