Park Motor Finance

[mojo8]

Please bear with me as its a little long winded

 

A few years back i started a business on the strength of a good contract so i purchased a van on finance.

Almost as soon as the contract was offered it was taken away due to unforseen circumstancies, subsequentely i had the van re-posessed.

 

I was then hassled by this company for payment of the balance owing after the van was sold, to which i agreed to pay £50 a month which was stretching my finances a bit as we had just had a new baby.

 

November last year when the recession hit our workplace and income dropped i wrote to my creditors offereing a reduced payment but to be revised in the future when things pick up, however this finance company kicked up a right stink and threatened all kinds of things and then refused to take the reduced payment.

 

i requested a copy of my agreement as i had never had a copy and when it came back it was very illegible.

 

I studied the agreement to try and fing a reason to dispute it and on the agreement they have added GAP. I specifically didi not ask for GAP as i knew it did not cover the vehicle due to what it was to be used for and on the greement in the section that covers GAP, it clearly says (NO, not required) so even though they acknowledge i didnt want it they have still added it.

Now my agreement should have been a 48 month agreement but instead its 47 months with a payment of Gap added.

This means that my payments include GAP so the contract is potentially wrong.

The finance company decided to take me to court and my defence was the illegability of the contract and the added gap.

I was due in court next week and i recieved a call from there solicitor and to be fair he was a nice guy who could not understand the finance companies methods.

 

After a discussion i agreed to pay them £25 a month.

Today a recieved a consent order that is signed by the solicitor and requires my signature.

what bothers me is i dont know what a consent order is and the implications if i cant pay in the future.

Am i right to agree to go along with this or does my defence have any substance.

 

the total amount payable is £11,727.36

 

This is 47 x 213.07

deposit of £1500

gap payment of 213.07

 

because of the gap payment the total amount is wrong as if it was a straight 48 payment the payments would have been £208.63... does this make it unenforceable and maybe the reason they have called to settle out of court.

[postggj]

with out knowimg

 

this smells of welcome finance

sorry if wrong

 

have you a statement of means ref any insurance ref ppi gap, earthquake cover, struck by a comet

 

sorry being flippent

 

have you posted your agreement

 

i do hope this consent order is not a tomlin order

 

ill be back on tonight

 

get a much detail together as you can

 

so they want to bargin

 

ask your self

 

WHY

[mojo8]

hi post

its not welcome, its park finance and they are just as bad. I cant post my agreement as my scanner does not work but i have all the info in front of me, any help and il be very gratefull...what is a a tomlin order

[postggj]

Park Finance

 

If Thats The Same As Park Credit

 

Say No More

 

 

Use The Search Option To Find Tomlin Orders

 

They Are Very Bad News

 

Do You Have Any Docs Ref The Insurance/gap

 

With Out This They Are Stuffed

 

How About A Default Notice Also

[mojo8]

Park Finance

 

If Thats The Same As Park Credit

 

Say No More

 

 

Use The Search Option To Find Tomlin Orders

 

They Are Very Bad News

 

Do You Have Any Docs Ref The Insurance/gap

 

With Out This They Are Stuffed

 

How About A Default Notice Also

i have a statementfrom them which includes the gap insurance added but like them all, no needs and demands, however on the agreement it states in capitals that i dont want gap but they have still included it

[postggj]

they are stuffed

 

you have it in black and white on the agreement

agreement invalid it seems

 

no wonder they want you to sign a consent order

cretins

 

ill be on tonight and you will have more replies no doubt but

 

ITS LOOKING GOOD

[mojo8]

they are stuffed

 

you have it in black and white on the agreement

agreement invalid it seems

 

no wonder they want you to sign a consent order

cretins

 

ill be on tonight and you will have more replies no doubt but

 

ITS LOOKING GOOD

 

cheers post, ill get as much info for you as i can to back up what im saying.

[brechiner]

I have a personal loan with them and I pay back £2 a month after pleading poverty. If you offer something, no matter how small, the company concerned will have a hard job taking and winning any court action.

[postggj]

this companies days are numbered

 

believe me

[brechiner]

this companies days are numbered

 

believe me

 

The buggers are clinging on though.

[rickjfs]

I have also had trouble with this so called company, phone calls every week until i told them i was recording incoming phone calls, so they started texting.

One one day had a phone call from them on a bank holiday and requested a payment the person at the other end was so rude, so i put in a complaint and asked for a copy of the recording to be sent now this took them 9 weeks, i still think it had been worked on as im never rude but it only showed me being angry and he was so polite.

so to stop all the trouble i have had to surrender the said Van

 

Never use this company.

[diddydicky]

My partner took out a personal loan with Park Motor Finance for a motor vehicle, where he could not keep up the payments. In fact because of the situation with the limited company he had set up, no payment was made and the van was subsequently taken and sold. The debt in question was approx 10719 and after the sale of proceeds and original deposit taken into account it left an approx balance of £5219.

Since Oct of last year we have been paying an agreed sum of £50/month without fail, however, recently due to circumstances we wrote asking if we could for a three month period reduce this to £25 and then looking at increasing.

They contacted us to say this was unacceptable and that unless we paid either a reduced balance of £3000 immediately they were going to pursue legal action. This being to take my partner to court and have him declared bankrupt, and to have a charge put on the property or even force the court to make us sell the property.

The property itself is already in negative equity, the mortgage is £178,000 and we have a secured loan of £18,000. The value of the property at the moment I would say is less than £185,000, a house next door but one is at this moment up for sale, less than this.

We are going to seek advice next week, however, because of the negative equity can they actually get the court to force a sale? We have a 17 month old baby boy and I am now at my wits end. All of our other creditors have an agreed payment plan and we are keeping to the payments. HELP????

 

added to which would be the costs of selling so relax on that score

 

the court will NOT make an order to force a house sale when it is in negative equity since to do so would not benefit anybody. and certainly not the creditor since he would get an equal share with all your other unsecured creditors of zilch!

 

i suggest , if you can getting a valuation done on your house

[pt2537]

or see a lawyer to have the agreement checked and to assess if there were any secret commissions etc

 

The underwriting sheet will tell all, and they may well resist disclosure of it, but dont let that put you off,

 

There is case law such as the hurstanger case and also the Imageview v JAck case

[nohappybunny]

Anyone got any other news on Park Motor finance... I am in a postal ping pong with them now, would like to hear other peoples experiences

[crackoff]

As a side issue, I just spoke with them (Park Motor Finance) and they told me, they are no longer trading???

Maybe a bad choice of words from the young lady, but if they are no longer trading, do any of us need to still pay them???

[bristolboy1987]

This company is still going strong - they are just not lending anymore, so yes you do still have to pay them what you owe

[socks&pants]

Does anyone have any news on them? I am admittedly behind in my payments for my car. i have been receiving a general letter from them every month stating that they have added a charge on my account for being in arrears, but NOTHING else.

 

Today, a hand written note was put through my door asking me to ring Able Investigations and Enforcement about my account with Park Finance (this note was not in an envelope and thus was seen by my Mother in Law who brings my son home from school for me).

 

I am going to ring him tomorrow and luckily I have some cash to be able to pay some of my arrears, but I prefer to be armed with knowledge!