Moneybarn - 2 months behind - Repo man showed up

[Willy Wonker]

Hi Everyone,

 

I owe 2 months to Moneybarn and

 

tonight when I got home a card through the door was from the Repossession Company giving me 24 hrs to contact

or they would call at unsocial hours.I wasn't at home and the car wasn't here.

 

I took out this finance in Nov 2012 and have defaulted previously and

 

they sent a repo man then but he was great

 

called Moneybarn and they gave me 3 days to get the payment to them (was around £1800)

- thing was I had changed my employment and my pay was relying on me invoicing out

and I was waiting for a payment to clear in the bank - anyway all was paid and all was well.

 

bit of a delay getting paid again

- I have since gone into salaried employment again

(I was when I took out the agreement)

but went self employed as it was better financially I thought but of course you are always waiting on other people to pay

and hope they pay on time (they don't in my experience!),

 

so I now owe £750 - plus I suppose the repo company fee which was £200 last time.

 

I can pay it

- well most of it I could bank tomorrow

- the rest would have to wait till Monday

 

- my question is

 

- is there any point

- are they likely to accept that

 

- do I just hand the keys over to the repo man when he comes back

- I am sure he will

- car will be parked on my drive but from what I have seen /heard they just come in and take it anyway.

 

I hate speaking to Moneybarn they (well most of them) are really quite obnoxious

and make me feel just awful

 

- I vowed last time I went through this with them I wouldn't put myself in this position again

but regrettably it has happened despite a new salaried job and 1st pay due last working day of the month.

 

Can anyone advise please - I feel physically sick here.

 

Thanks in anticipation.

 

WW

[renegadeimp]

Ignore the 'repo company'. They have no legal rights at all to turn up on your doorstep. If they do so, tell them behind a closed door or window to leave, or the police will be called. Then walk away into another room and close the door behind you.

 

Also, you state about your car and 'repo', can you give us more info on this debt?

[renegadeimp]

If its a car finance company, if you have paid more than 1/3 of the total amount then they cannot take the vehicle without a court order. They certainly cant charge silly fee's like they are trying to. Should they come on to your property and take the car without a court order, then they open themselves up to a world of trouble.

 

This isnt America. They cant come on to your property and take the car simply because they want to.

[i hate bailiffs]

Pay the money direct not the monkey that calls!

Sounds like you will have it all sorted once you pay comes in

 

Nothing to lose sleep over

[Willy Wonker]

Hi thanks for the replies.

 

I haven't paid 1/3 as it is a 48 month agreement and I have only had the car since November 2012.

 

When I got into a bit of 'bother' with them the last time it was a different Repossession Company and I let the guy into the house and we had a chat about it and he and I spoke to Moneybarn on the phone and I eventually over the following few days got it all sorted.

 

I had an email from this new Asset Management/Repossession Company last week but didn't respond as I wasn't in a position to pay it and thought if I could get to pay the arrears before the visit then all would be OK, alas they move faster than me !

 

Surely they have some rights though - they must be able to secure their asset if I don't pay the installments (as I haven't paid 1/3).....with it being the weekend I can pay £500 into the bank tomorrow but will need to pay the balance on Monday - if I have to pay the repossession fee (as I did before) thats another £200 which I can ill afford but I suppose I have got myself into this position and its the price I have to pay!

 

I often wondered if they could just pull up onto my drive and take the car away - the car is always on the drive, regrettably garage full of junk. I am nervous about answering the door - as I'm writing I am jumping up to the window every time a car goes past !

 

Once again thanks for any advice given

 

WW

[renegadeimp]

Stop talking to them on the phone. If they come around, tell them to leave or the police will be called. They also cannot just turn up and take your vehicle. They have to follow a set procedure to get access to it. As i said earlier, this isnt america, and these muppets cant just come and take your vehicle because they feel like it.

[Willy Wonker]

Thanks for that - the info is giving me some strength in conviction should I be confronted!

 

One other thing I have thought about - I did get the termination letter - it does say - pay now or hand the car back with docs etc.

 

Would it be too late to pay now - if I pay would they still be able to pursue to take the car back? I have heard of people having cars repossessed but I wasn't aware that they would have had to sign for the car to be taken away.

 

What I am saying is - if I pay the £740 will it be fruitless and just going into a black hole as I am sure that any resale of the car would result in me probably owing then thousands which I will never be able to pay off for sure.

 

WW

[renegadeimp]

Can you go over the timeline that led to the moment you are at now? It seems very strange that they would say "pay now or we'll take the car' after 1-2 missed payments.

[Willy Wonker]

Hi, yes of course

 

I purchased the car in November 2012 for 10k, paid the deposit and agreed monthly payments of £370 per month over 48 months.

 

All went ok for the first few months and then I fell into arrears - 3 months - so the 1st repossession agent turned up (the one that was quite helpful), anyway the payment due at that time was 3 x 370.00 plus some late payment charges of 75-100. They then added the repo mans fee on which was £200 + vat and also as another payment was due within a couple of days they insisted I pay that so I paid £1800 +.......this was done, obviously crippled me because of my change in job (which as stated above ) didnt really work out as planned - another bad decision !

 

Anyway moving forward, again waiting on pay to come in I had a letter saying I owed £1156 however I called them and said I had paid £800 of this which they confirmed as I had paid £800 cash over the counter into the bank - so £356 to pay, another payment of £370 was due on the 1st of this month - now with late charges etc it is over £750 so equivalent to just over 2 months. So that is where I am at now.

 

As I said I could get to the bank in the morning and pay £500 over the counter but wouldn't be able to pay the balance until Monday, would be able to make November payment on 1st of the month as 1st salary payment due on 31st (Thursday).

 

Like I said just wanted to know if it is worth paying this money or if it will be sucked up into the outstanding balance anyway.

 

Thanks again for your reply

 

WW

[havinastella]

Firstly, if you have not paid a third, THEY CAN just turn up and take the car.

 

Second, ALL the charges they have applied are 'unlawful', so these need to be deducted from from the balance owed.

 

How much deposit did you pay? You need to keep the car away from them, park it as far from the house as humanly possible.

 

Work out what you have paid towards the £17760 and deduct that amount from it. Does it get near 1/3?

 

Is this HP or a loan agreement?

[havinastella]

You need to have paid more than £5920.

[renegadeimp]

They can come yes, but they still have to follow procedure.

[dx100uk]

go read this thread

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?382678-Bill-of-sale-(help-please)&p=4363845#post4363845

 

No logbook loan repossessions are not always legal,

if linked to a CCA agreement or if the BOS has not been registered with the high court.

If BOS registered then yes they can reposses, but have to show registration and debt details.

If linked to a CCA then can not reposses if on private property without a court order ( but can if on public road and under a third has only been paid ).

Over a third, they need a court order wherever it is.

020 7947 7772

QBEnforcement@hmcts.gsi.g ov.uk.

QB Enforcement Section, Room E15-E17, Royal Courts of Justice, Strand, London, WC2A 2LL.

is the number to ring and check if your BoS has been registered.

or

If anyone else needs to find out if a Bill of Sale has been registered

email Lindsay.hutchinson@hmcts. gsi.gov.uk really helpful,

replies straight away

& above all didn't charge

many many are not!

dx

[dx100uk]

have you had something called a default notice?

 

dx

[i hate bailiffs]

Do they not need a court order to do a repossession on private land regardless of how much is paid??

[dx100uk]

in certain instances no.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?382678-Bill-of-sale-(help-please)&p=4363534#post4363534

[Willy Wonker]

Hi and thanks for the replies,

 

No I haven't paid 1/3 - as I have a 4 year agreement and am still less than 12 months into it

 

The agreement is a Hire Purchase agreement which was signed at the Car Dealership

although the finance wasn't arranged by them

- it was arranged by Creditplus

who in turn would have selected Moneybarn

and then the paperwork was at the garage waiting for me when I went to collect.

 

Yes I have had a default notice.

 

Although I will be able to keep the car away from the house over the weekend this will become more difficult from Monday onwards.

 

Are their late charges unlawful? Its £25 a month.

 

I did owe £1156

- then paid £800 from this

- so it left £356.

 

Chap from Moneybarn called me chasing that amt (acknowledged the £800).

 

This £356 had then increased to £371 and another payment had become due

so a total of £740 +.

 

This is obviously going to increase by another £200 + when they add on the repossession companies fee

(I had to pay that the last time even though they didn't remove the car).

 

Reading the above

- I am starting to think it is game over.

 

I suppose I should be speaking to Moneybarn directly but I do find them intimidating at times

- I appreciate they have a job to do but from their investors point of view

wouldnt it be better to work with clients rather than take cars away,

sell at auction (not recover the full amount owed)

and then try to chase an individual for thousands that they will probably never be able to pay.

 

Again thanks for the replies - please let me know what you feel is best to do at this stage.

 

Thanks

 

WW

[renegadeimp]

None of those charges are lawful or enforceable. They are penalty charges

[dx100uk]

speaking to MB should be the last think you do really

you need a papertrail or at least record the calls.

 

late fee & repo fees are unlawfull under FCA rules/guidelines

and can be reclaimed

 

if you remove those from calculation, how does that look from what you owe?

 

as you are now back in fulltime work

 

and if you were to get these fees sorted, does the future of payment for x yrs look ok?

 

just remember you've yet to verify that BOS is registered too!

 

might change the whole ballgame.

 

go read that thread in post 13 I posted

 

then comeback

 

dx

[Willy Wonker]

Thanks for the reply,

 

So the late charges are not lawful and I should appeal against them - surely I must have signed to say I agreed with them.

 

I do feel that the previous repossession fee of £200 + vat which I paid was a little wrong as they didn't take the car. Moneybarn said that they would still be paying the company as they had turned up so if I wanted to keep the car I had to pay it.

 

I am about to go into town and was going to pay the £500 I have over the counter into the Bank toward the debt - is it worth me doing this ? Or do I have to speak to Moneybarn - honestly I feel physically sick just thinking about it.

 

Thanks for all the help here - its been good just to offload a little

 

WW

[renegadeimp]

You can sign anything, but it still doesnt make them enforceable. Adding them into the terms and conditions would be seen as an unfair clause in your contract, and even so, they are NOT enforceable under law.

 

Repayments are to be made according to your financial circumstances. If they are demanding money that leaves you short for your essential bills, then tell them to take a running jump. You said earlier that you will be able to clear a lot of the arrears on your next payday. Tell them this and that the money will be transferred that day. Just make sure you tell them that you will NOT be paying the unlawful charges or 'repo fees'

 

And by talking to them, i mean write to them. Only ever phone them if you can record the call in full AND are strong minded enough not to agree to anything they say.

[Willy Wonker]

Thanks for that - I will go to the bank now and pay across the money I have here now and that should then only leave me £240 arrears with another payment due on 1st November.

 

I have just read the letter from them: Termination Notice

 

Further to the Default Notice served by us in respect of the above, you have failed to pay the amount owed and demanded.

 

You are in material breach of the above contract which we hereby terminate.

 

Please contact us to arrange the return of the vehicle. You are no longer in possession of the vehicle with our consent. The cost of our retaking repossession and all amounts due under the terms of the contract following termination of it will be borne by you.

 

If you do not give up the vehicle voluntarily within 24 hours from the date of this notice repossession/court repossession action will commence, the costs of which you will be held to be liable for

 

I guess that is pretty standard stuff however.........the date of the notice is 09.10.13 so I would have been 1156-800 = 356 in arrears plus the instalment due on 1st October so that all seems to have been very quick.

 

Anyway off to the Bank to pay what I can - this could be a big mistake but I suppose I have to try as if they take it, sell it - I will probably owe 10k with no car to show for it.

 

I will come back and pen an email together and hopefully run it past someone before I send it.

 

Thanks again

 

WW

[Willy Wonker]

Just to throw in here - just found a 'Default Sums Notice', dated 09.10.13

 

03.09.13 Not received by Direct Debit £25.00

03.09.13 Not received by Direct Debit £25.00

18.09.13 Serve default £25.00

 

They state this is issued in compliance with section 86E of the consumer credit act 1974

 

So easy for these amounts to add up by the looks of it.

 

WW

[dx100uk]

along with the repo fee

 

these are unlawful under FCa guidelines and are a PENALTY charge so can be reclaimed.

 

just as a side note

 

they've not spoofed you on

 

PPI

mechanical breakdown

life ins

etc etc too have they?

 

dx

[renegadeimp]

They cannot add those charges in the default sums notice. Theyre really starting to dig a deep hole for themselves.