Motor Finance Debt

[charlie_]

Hello everybody,

 

This is my first post on CAG.

I've been reading through the forums for a few months now as I've got a debt hanging over me that requires sorting.

 

About 4 years I took out finance for a vehicle. Shortly after I crashed the car. Being young and stupid I didn't have the correct insurance to pay for fixing the vehicle. The vehicle was written off due to the damage caused.

 

A few months later I took some calls from the dealer chasing payment for the vehicle. I put off this payment (which wasn't actually long) until they simply stopped contacting me.

 

4 years later I've been contacted by a DCA asking for payment on the outstanding balance which amounts to approximately £5,500. I sent the 'prove it' template letter just to see what they had on me to which they replied with the original signed credit agreement.

 

 

I would like to erase my debt and have no problem gradually paying the debt off, but at the same time I don't wish to be screwed in to the ground by paying over the odds to this very pushy DCA company. I understand this is all my own fault, but naturally I would like to pay less than what they are asking for.

 

Any advise on what I should be doing would be very much appreciated.

 

Thank you

[postggj]

welcome to the forum

 

first thing

 

1/ who was the original finance company

2/ who is the dca asking for money

[charlie_]

Hello,

 

The original finance company was from Ford / Ford Credit.

 

The DCA chasing me who apparently owns the debt is Link Financial.

 

Thanks

Charlie

[postggj]

so it is link that has this

 

this is going to be easy

 

now is this a hp, or conditional sale loan, or

 

fixed sum loan agreement

[charlie_]

It says its a 'Hire Purchase Agreement' on the signed letter

[postggj]

what does it say at the top of the credit agreement

 

thats the original signed agreement

[theghost]

How much extra are they asking for over what you think is the actual debt?

[charlie_]

It says exactly...

 

Hire-Purchase Agreement Regulated by the Consumer Credit Act 1974

 

Thanks

Charlie

[charlie_]

I'm not really sure of how much is the actual debt. I believe it to be roughly the same, they don't seem to have added much.

[postggj]

i realy do need to see a copy of this agreement

 

scan the agreement into your computer and google a program called photo bucket to post onto your thread

 

deleate personal info but leave in the figures

[charlie_]

I will have to do this tomorrow whilst at work, I will do this first thing.

 

Could you please tell me your initial thoughts on my situation?

 

Charlie

[postggj]

knowing link like i do

 

i will tie them up in knotts

 

now what ever you do

 

do not contact them

 

if by chance they phone

 

refuse to go through security

[charlie_]

I have not been answering the phone calls. As they are phone almost on a daily basis, which is very frustrating after a long stressful day.

[theghost]

Arguably they are within their rights to keep phoning you until you pick up - unless you make it clear to them you would rather deal with them in writing.

[charlie_]

I have spoke to them a several times on the phone and clearly told them I would prefer they corresponded in writing.

[postggj]

you need to send the telephone harrasment template

[dx100uk]

what shows on your cra file for this?

 

dx

[charlie_]

what shows on your cra file for this?

 

dx

 

I don't actually know. I signed up to equifax and they told me I needed to upload a utility bill and a form of ID to their website.

As my partner pays all the bills(i pay her lump sum) I dont have a single utility bill in my name so I'm finding it hard to see my credit file. I'm trying to find a way asap.

 

I have omitted everything that I believe to be personal info. Please let me know if I have missed something

 

Thanks

Charlie

ford agreement .pdf

[dx100uk]

well you've certainly got PPI to reclaim!

 

i'd ping postggj

 

dx

[postggj]

ill get back to this thread soon