Advantage Finance - HP Car failed after 1yrs - still paying - HELP

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Letter has gone off today (less the bit about the refund), as soon as the woman behind the counter put the Barcode sticker on it, I got a sinking feeling in my stomach, I hope that its the Spag Bol that I had and not anything to do with the letter. :/

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Received responses from my Letter.

First the MBI/GAP:

[ATTACH=CONFIG]41611[/ATTACH]:whoo::whoo::whoo::whoo:

 

Secondly the termination:

[ATTACH=CONFIG]41612[/ATTACH] :mad2::???:

 

£500???? No chance, they told me to scrap it. I've paid more than half the agreement.

 

Can I have some (hopefully last) help on this as I really want to put this to bed - its been going on for way too long.

[dx100uk]

i REALLY do hope that they have also refunded the INTEREST they charged on the insurances.

 

great two results rgardless to this.

 

dx

[dx100uk]

and ofcourse the matter of all the fees?

 

dx

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They have'nt said, it's just as whats stated, the money paid on the Insurance has gone on to the account as it was in arrears.

 

In the 2nd letter he goes on about returning the goods, and hen says the market value of the car £500...

 

I can't see how they can still charge me £500, I've paid more than 50% of the car value as indicated in the agreement, yes the car was scrapped but they did not ever say I would be liable for the cost of the vehicle epecially when it was their property and they gave the permission to scrap it.

 

It jus seems that they are throwing figures out at me in hope that I'm going to bite. I owe nothing further, I've jumped through all of their hoops, if I didnt contest any of this I would of been financially worse of than I an now.

 

Any advice on what to write / send them?

[dx100uk]

thank you so much for your understanding in blah blahblah issuesso i may be clear upon the facts

 

can you please send me a fully updated statement of account from day one please.

 

it would be pleasing if you would also confirm that the interest charged on the insurances

and the accumilated penalty fees and their interest have also been thus revised too?

 

dx

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Could I say anything about as the insurance was included on the original agreement it now renders this as invalid?

[dx100uk]

no there are numerous instances and examples from the fos whereby they should simply rewrite the old

so it cant make it invalid.

 

anyhow dont think you need too.

 

you owe nowt we know hrtat they know that

this is just the dying swan act.

 

dx

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Lying in bed and I've just had a eureka moment so logged back in on phone so excuse me if I'm over the place.

 

Darrens last letter stated that they hold the VT at £825. Which as he has worked out to bring this to 50% paid (states that I've only done 35.69%).

 

Now this figure was before the £2331.36 for the mbi/gap was removed.

 

Now forgive me if my maths is wrong as I make it that £2331.36 is a far greater sum than £825.00?

 

Where he says I've only paid the 35.69% of the agreement that only comes to £2111.70 that's been paid s where is the £780 pounds gone that's been paid ( 35.69% of 7977.56 is 2111.70, I paid 2892.34) does that make sense?

I'd love to know what the 500 consists of as well as there is normally an.admin fee involved in VT's which I had confirmed has already been included in the agreement (when I questioned the item marked as optional fee)

[dx100uk]

if you have now paid more than 50% of the new [refinanced] agreement

you are clear.

 

as for the car they agreed for you to scrap at £0 value to them.

 

and you still have the PENALY charges [could that be the £780] + their interest?

 

that would make sense?

 

dx

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Upto October 2012 there was about 650 of charges, so a tweek here and there or another pointless trace fee would bring it to 780.

Guess I will nit know with out asking.

But a drop by 325 for the VT as the insurance has been removed doesn't sound right either.

Will try draft something out tomorrow..

For the first time I'm starting to see the light..

[dx100uk]

and surely with interest on the charges it will be more too?

i bet they charged int on them

 

dx

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I've had a long think about this and I really am no clearer how he's got to the two VT figures (£825 & £500) as the first figure is settlement including the MBI/GAP and the second one is supposedly without.

 

He states in the letter received 16/01/13 (post #167) that I'm only 35.69% through the account and that £825 is the VT figure to settle the account (no details of returning car or charge as the car had been scrapped). Then the letter yesterday says I have to pay £500 to settle the VT.

 

1) If £825 is 14.31% of the agreement then, 1% equals £57.65; 50% £2882.50 and 100% £5765.00.

That is £118.80 more than the figure for the vehicle on the agreement, PLUS I've paid £2,892.34 which is still more than the 50% quoted.

 

2) If £500 is 14.31% of the agreement then, 1% equals £34.94; 50% £1747 and 100% £3494.00.

 

3) As at the 16/01/13 total value of the agreement was £7,977.56 (inc GAP/MBI). So 35.69% is £2847.19 which means 50% would be £3988.78, meaning I would be required to pay £1141.59 to complete the VT

 

4) As of 13/02/13 total value of the agreement should be £5,646.20. So 35.69% is £2015.13 which means 50% would be £2823.10, which means I've completed the VT and paid extra £69.24

 

I did ask a friend of mine who's an Financial accountant and she has even said, yep I'm right, unless I'm missing something vital.

Could it be VT = the total of the first 3 numbers out on the lottery multiplied by the bonus ball divided the date of the month.

 

To me of course (4) is what I believe is correct. but even (2) & (3) show that I do not need to pay anything further.

 

He does state that because I didnt give any money for the scrappage of the vehicle I have to pay the £500, now the confirmation of scrappage from Advantage states any funds received are to be made payable to Advantage... Well if no fund's are received then nothing can be payable. The guy who took it questioned if there was Oil & Diesel still in it, and when I said yes, he said normally we would charge for disposal of that, and checking with garage's when they do oil changes etc they do charge for disposal.

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Here is what I am looking to send to Advantage.

 

Thank you for your letter dated 08/02/13

 

I am confused as to how you still state I owe Advantage money.

The information you provided to me in both your letter on the 16/01/13 and the 08/02/13 contradict each other, and just seems your trying to justify a means as to getting more money out of me, when nothing further is payable.

 

I will explain to yourself as to why I no longer owe anything to Advantage, just based on your last two letters.

 

Your letter on the 16/01/13:

You state “we would state that at this point the account is only 35.69% through at the time of writing this letter” and also “We would as a gesture of good will allow you to complete a VT and hold the figure for this at £825, should this be received we would settle the account in full.”

 

With that said, I can assume the following:

35.69% of the account has been paid then the £825 is 14.31%.

That means 1% equals £57.65, meaning the 35.69% is £2057.53. Therefore 100% equals £5765 and 50% equals £2882.50.

 

Firstly both are greater than the Agreement and the VT (£5646.20 & £2823.10).

Secondly by your maths you state I have only paid £2057.53 where actual payment on the account totals £2892.34. Please provide me with a Full statement of account if you believe this to be incorrect and also state the reason’s as to why this amount has not been paid.

 

With either VT Value (£2882.50 or £2823.10) I have paid more than this.

In addition to that as you stated in your letter a further £825 is required then this has already been paid:

Total Payments made: £2,892.34

Less your stated payments: £2,057.33 (35.69%)

Money Unaccounted for: £835.01

 

As you can see the £835.01 is a greater figure to the amount you are claiming I still have to pay. So therefore there is nothing left to pay.

 

Next brings me on to your letter dated 08/02/13, here you now state that “At this stage we are willing to accept the Voluntary termination of the account, to complete this you are required to return the goods to us” and “Due to the vehicle having previously been scrapped and funds not provided to us, we would accept current trade value of the vehicle to satisfy this part of your VT this figure currently is £500. Once this figure has been received the account will then be settled in full”

 

Firstly, you provided the permission to scrap the vehicle, and on your permission the vehicle was disposed, of which no funds was received, so I cannot give you a value of nothing. I was even told that due to the car having a full tank of diesel and oil, there would be a cost to dispose, just like any garage, only by explaining to them I was on benefits they wavered this charge.

Secondly, this is the reason why I believe you are trying to fool me into paying more money than I should. It seems to me that you have realised that I had in fact met the criteria you laid out in your letter on 16/01/13, and throw this additional £500. Can you explain to me as to why this was not mentioned in your letter 16/01/13 or at any time when discussing the scrapping of the vehicle?

 

With all the information you have provided me, and the information contained by way of this letter, the account is settled in full, and that this will also be stated on my credit files.

 

Please provide confirmation of settlement of account by return.

Alternatively if you still believe funds are still outstanding under the Voluntary Termination then please feel free to submit a claim with the MCOL (https://www.moneyclaim.gov.uk/web/mcol/welcome)

 

Regards

 

 

Is it ok, or am I pushing my luck with the last part, as I could not think of any suitable ending.

[dx100uk]

add in £650 PENALTY charges + interest charged on them !

 

they owe you

 

but as a gesture of goodwill you are prepared to refrain from reclaiming these

on the CLEAR UNDERSTAND that your CRA file is marked as SETLLED [not partial settlement]

and all negative data re defaults and markers are removed.

 

dx

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Letter received today.

Now I don’t know if this is to do with the above letter I sent them, or it relates to the Notice of Default that was sent before they removed the MBI.

Either way, I have a few questions:

Should I be worried about this, there stating yet again about returning the property, when they clearly know that I haven’t got it.

Does this affect my Credit File and score

Should I email this person from the legal department and ask as to what it’s in reference to ie is it the reply I sent to Darren asking for a further £500.

If it is on credit file as a defual can I do anything to get this removed.

I’ve now had enough of this company and I would now goto court over everything, as it just seems a complete joke.

[ATTACH=CONFIG]42029[/ATTACH]

[dx100uk]

i would guess someone has updated their computer records a nd itsspat that letter out

 

i take it, thats not a real sig?

 

dx

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It is a real signature, you can even see the impression mark through the other side of the paper.

[dx100uk]

i would suspect left leg right arm.

 

send a copy to darren.

 

dx

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Should I email it to him and ask if this is the response to the letter I sent?

[dx100uk]

no just ask him if he is aware of it

sort of blows some of what he is going on about out the water.

 

dear darren

in relation too [wherever he makes ref to it not being terminated etc by what he is stating before]

i am now puzzled.

 

your comments

 

dx

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Is this acceptable to email?

 

Darren,

 

Please find attached a copy of a letter received today from yourselves.

 

In relation to letters received 13/02/2013 from Advantage (of which a reply was sent), you stated that I had to pay an extra £500 to complete the VT and also your colleague stated that the MBI/GAP was now cancelled.

 

Now this letter has got me confused, as to what it is relating to and what effects it is to have on my Credit Files.

 

Is this a reply to my letter sent to yourself, or is this a system generated letter?

 

If the agreement has been terminated under the VT then there is no Default and also no effect to my credit file.

 

Could you please respond via email, as I am under the impression that different departments within Advantage do not seem to discuss accounts, which causes cross overs and confusions.

 

Am I right in saying that as I am in contact to resolve a disputed account and that I am to complete the VT then this should not have been sent and also that as I am doing the VT nothing negative should be applied to my credit file.

Would it still be a negative impact if they mark it Defaulted on xx/xx/20xx and then settled?

[dx100uk]

even if marked settled, a default on the account will be as bad as a CCJ.

 

the other fact i think is that you or they cannot VT a terminated account?

 

dx

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So if the letter is a Default termination, whilst a complaint and VT was being negotiated then are they in breach of some code of conduct/screwing me over

[BRIGADIER2JCS]

:thumb:

even if marked settled, a default on the account will be as bad as a CCJ.

 

the other fact i think is that you or they cannot VT a terminated account?

 

dx