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Hi and thanks for reading.
I have a bit of an issue with Moneybarn claiming I owe them some money and could do with some advice in understanding the law surrounding a VT.
The facts in my case are that I purchase a vehicle on finance over 48 months in March 2017. I never missed a payment and submitted a VT request late in December 2019.
Their agent collected the car early in January 2020 and shortly thereafter I received a letter from them stating that there were no damages and there would be no charge in relation to the condition of the vehicle.
Earlier this year I started getting messages from them stating that I owed them 1 payment of £176.12 : As I had no arrears when I sent the VT letter I was under the impression that I would have no further payments to make as far more than 50% had been repaid.
I sent them the following message through their portal:
Further to your email and message, why do you claim that I owe you the amount of £176.12? This agreement was voluntarily terminated with NO arrears and more than 50% of the balance paid. You also wrote to me to advise that there were no charges to be added. Kindly amend this balance to zero and reflect this on my credit history. I do not owe you anything
Their response to me was as follows;
After reviewing I can confirm there is a remaining balance of £176.12.
The balance is due to the Direct Debit on the 28/12/2020 returning on the 31/12/2020, where we had received communication of you wanting to Voluntarily Terminate your agreement on the 28/12/2020.
This means the normal monthly instalment on the 28/12/2020 is still due, I have attached a “statement Of Accounts” to this email for your refence.
To Clear this remaining balance we can set up an affordable payment plan to cover the balance over a period of time. To allow Moneybarn to set up a payment plan on your behalf, please can you answer the following information:
Once Moneybarn has the above information we can set up the payment plan on your behalf and send you written confirmation for your records.
I accept that I cancelled the direct debit payment for 28/12/2019 and that they may have received my letter of termination on or after that date, but are they within their rights to claim this? If not, how can I respond and what sections of law can I quote? They have now handed this balance to Moorcroft, but I won't talk to that bunch.
Any advice would be very welcome.
I have a bit of an issue with Moneybarn claiming I owe them some money and could do with some advice in understanding the law surrounding a VT.
The facts in my case are that I purchase a vehicle on finance over 48 months in March 2017. I never missed a payment and submitted a VT request late in December 2019.
Their agent collected the car early in January 2020 and shortly thereafter I received a letter from them stating that there were no damages and there would be no charge in relation to the condition of the vehicle.
Earlier this year I started getting messages from them stating that I owed them 1 payment of £176.12 : As I had no arrears when I sent the VT letter I was under the impression that I would have no further payments to make as far more than 50% had been repaid.
I sent them the following message through their portal:
Further to your email and message, why do you claim that I owe you the amount of £176.12? This agreement was voluntarily terminated with NO arrears and more than 50% of the balance paid. You also wrote to me to advise that there were no charges to be added. Kindly amend this balance to zero and reflect this on my credit history. I do not owe you anything
Their response to me was as follows;
After reviewing I can confirm there is a remaining balance of £176.12.
The balance is due to the Direct Debit on the 28/12/2020 returning on the 31/12/2020, where we had received communication of you wanting to Voluntarily Terminate your agreement on the 28/12/2020.
This means the normal monthly instalment on the 28/12/2020 is still due, I have attached a “statement Of Accounts” to this email for your refence.
To Clear this remaining balance we can set up an affordable payment plan to cover the balance over a period of time. To allow Moneybarn to set up a payment plan on your behalf, please can you answer the following information:
- Payment plan amount:
- Payment plan method:
- Payment plan frequency:
- Payment plan date:
Once Moneybarn has the above information we can set up the payment plan on your behalf and send you written confirmation for your records.
I accept that I cancelled the direct debit payment for 28/12/2019 and that they may have received my letter of termination on or after that date, but are they within their rights to claim this? If not, how can I respond and what sections of law can I quote? They have now handed this balance to Moorcroft, but I won't talk to that bunch.
Any advice would be very welcome.
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