British Crdit Trust Charges and Fees & random APR increase

[tomtom013]

Hi I need some please.

 

I was made redundant about 7 months ago but have recently found a new job.

 

However, I have fallen behind on my payments with British Credit Trust (BCT) and they have served me with a Notice Of Termintion letter. They say I need to ring them to return the vehicle and If I fail to do this they will reposess the car.

 

The total HP finance was: £9480

Amount outstanding is: £2619

Current arrears £675.00

 

I really need and want to keep the car. Onced I have my first pay packet I will easily be able to pay all arrears plus some more.

 

I need some advice on what should be my next move considering that I want to keep my car.

 

Many thanks

[seanamarts]

Have you written to them and advised them of this?

[tomtom013]

They know I lost my job but I only got the new job offer last week. Given it's an academic position it will about 7 weeks before I get my first pay packet. Do you think they will hold of any action if I tell them I could pay them all arrears within a few months. Do you think they will try and reposess my car.

[seanamarts]

I would write to them with your proposed offer and see what they say. I would think that they would rather have your money then the hassle of repo-ing your car, plus all the paperwork that goes with it. See what they say.

 

Let us know.

[tomtom013]

Okay thanks. I will ring them outlining my proposal and back it up in writing. I hope they accept.

[seanamarts]

I will keep my fingers crossed for you.

 

If you have any problems come back and others maybe able to advise what the next course of action could be.

[tomtom013]

Okay, I rang them and they are willing to accept small token payments until I get my first wage. Thanks for the advice

[huggys boss]

Sometimes all it takes is a phone call. You will read on here NEVER call always in writing, but I find a friendly chat can resolve certain issues easily.

Did you ask or did they offer to confirm your arrangement in writing or by email? I can't see any problems with your arrangement but stranger things have happened.

 

Good Luck with the new job. HB

[Consumer dude]

Okay, I rang them and they are willing to accept small token payments until I get my first wage. Thanks for the advice

 

Fantastic. Cag supports people and people support Cag..

[seanamarts]

Okay, I rang them and they are willing to accept small token payments until I get my first wage. Thanks for the advice

Well done

[tomtom013]

Thanks again,

 

I did ask for our agreement to be put in writing and she was happy to do this and should expect a letter in a few days.

[Ell-enn]

If you read your agreement you will probably find that they cannot reposses the car if you have paid more than a third - they would need a court order to do that.

[tomtom013]

Hi all,

 

I need some advice on a few matters I have with British Credit Trust.

 

The first one is regarding late payment charges. Until recenlty I have struggeled for a year or so to meet my regular payments with BCT. I estimate they have charged at least £300.00 and possibly more in late payment charges and other such related fees. I am searching for advice on whether these fees/charges are legitimate or enforceable. In other words are they just trying to make money out of my recent precarious circumstance.

 

Secondly, I recently had a statement from BCT outlining some of these charges but also a sentence suggesting that the APR they are currently charging me is 28% APR. I found this odd as I remember that my original HP agreement was struck at 23.9% APR. I therfore checked and found this to be the case. Therefore, Can BCT change the APR for whatever reason, including if I incurr numerous late payments

 

Many thanks in advance

[tomtom013]

Hi all,

 

I need some advice on a few matters I have with British Credit Trust.

 

The first one is regarding late payment charges.

 

Until recenlty I have struggeled for a year or so to meet my regular payments with BCT.

 

I estimate they have charged at least £300.00 and possibly more in late payment charges and other such related fees.

 

I am searching for advice on whether these fees/charges are legitimate or enforceable.

In other words are they just trying to make money out of my recent precarious circumstance.

 

Secondly,

 

I recently had a statement from BCT outlining some of these charges but also a sentence suggesting that the APR they are currently charging me is 28% APR.

I found this odd as I remember that my original HP agreement was struck at 23.9% APR.

 

I therfore checked and found this to be the case.

 

Therefore,

 

Can BCT change the APR for whatever reason, including if I incurr numerous late payments

 

Many thanks in advance

[dx100uk]

get reclaiming

 

this is one of BCT's favourite tricks.

 

if you've not got all the statements

 

sar them

 

and we'll help you get reclaiming.

 

dx

[tomtom013]

Hey dx100uk,

 

Thanks for your reply. Can you just clarify which part of my post is BCTs favorite trick. The charges and fees or the random increase in APR. Also, is it legal for them to increase the APR from 23.9% to 28%.

 

Thanks again

[dx100uk]

all of them

 

await the sar.

 

they cant just chnge teh fixed apr no, but the T&C might allow it

 

dx

[tomtom013]

Is the SAR template in the library, I'm having problems locating. Cheers

[dx100uk]

urm click on the black SAR link in your msg.....

[tomtom013]

lol, did you mean urrrrm-duuuuuuuumm. thanks again

[tomtom013]

Hi al, I finally got around to sending a SAR for both cars I had through BCT.

 

I have received data for one of the cars but I am still awaiting information on the other.

 

I am not really happy with what BCT have sent me as it is minimalistic to say the least .

 

I will start from the beginning to give a full picture as it as been a while.

 

My first car with BCT I paid of over £7500 on the HP agreement before i doing a VT.

After receiving the the SAR request it seems I still owe them £249 but I think they owe me money.

 

In the SAR request BCT have included the original HP agreement, GAP cover signed and PPP not taken.

 

With this is a sheet of A4 paper with listed payments and that's all really.

I can't fully understand it to be honest as I have no documentation of what they actually sold the car for and there are a small number of charges.

 

From what I can make out BCT have received over £12500 in payments, some of which I don't understand, for an HP agreement of £12175 total.

[dx100uk]

so

 

on this you can tally the PENALTY charges?

 

dx

[tomtom013]

Hi dx,

 

To be honest there are not many listed, only a few.

 

On my other car, which I am am still in possession of,

I'm expecting there to be quite a alot but have yet to receive the SAR for that yet.

 

The SAR i received was for the a car I voluntarily terminated in 2010/2011.

 

They have sent me very little in terms of payment information and don't have any information on how much they sold the car for.

 

There are payments on the sheet whcih I never made so don't really understand what they are for etc.

 

With tis it's difficult to understand how much is owed either way other than to state that they suggest I still owe them £249.00

[dx100uk]

scan it up if you want

 

dx

[crem]

I will start from the beginning to give a full picture as it as been a while.

 

My first car with BCT I paid of over £7500 on the HP agreement before i doing a VT.

After receiving the the SAR request it seems I still owe them £249 but I think they owe me money.

If you VT'd it, they can't owe you money. Not for the basic car value anyway. To VT you must have paid them AT LEAST 50% value at the time of the VT, if you haven't then you owe them the money to make it up to 50%, If you have paid more than 50% you get nowt back!

 

 

In the SAR request BCT have included the original HP agreement, GAP cover signed and PPP not taken.

 

With this is a sheet of A4 paper with listed payments and that's all really.

I can't fully understand it to be honest as I have no documentation of what they actually sold the car for and there are a small number of charges.

 

From what I can make out BCT have received over £12500 in payments, some of which I don't understand, for an HP agreement of £12175 total.

..