court date but no notice, long story

[pt2537]

Do we have a valid default notice?

[R0b]

As said by PT, there is a statutory limit under the CCA which is 50% of the total price payable.

Repossession/voluntary surrender is acknowledging you don't want to continue with the contract (in effect a breach of contract) which the finance company accepts, and is then entitled to damages for their loss under the contract. There is a Court of Appeal case, Yeoman Credit v Waragowski determined how the damages should be calculated on a hire-purchase agreement:

1. Calculate the total price payable under the contract inclusive of interest, one-off payments etc.
2. Deduct the deposit amount.
3. Deduct the sums already paid up to the point of termination.
4. Deduct the value of the car as at the time of repossession, or if the car has been sold, deduct the proceeds from the sale.
5. Deduct the option to purchase price.
= amount recoverable by finance company.

There is some authority suggesting that there should be a discount given for the early return of the car, but I won't complicate matters.

[Amethyst]

Roughly then...

Car CAP value on reposession - £2800 ( Dec 2011 )

Purchase price £5650
Interest - £4350
acceptance fee £150
Option fee £120
Total Payable under Agreement - £10270

GAP £742
Interest on GAP £573

Total for GAP ( 42 months ) £1318.80


£0 deposit - no trade in etc

Judgment was £9940 thereabouts (inc court fee etc) awarded in July 2012

seems like three payments were made ( July (late), August, Sept ) but OP is trying to check bank account from that time.

Charges added were £380 ( that we know of )

Soooo....

Total payable ( inc the GAP ) £11588
less deposit N/A
less Car CAP value £2800
less payments … July 419 - Aug £269 - Sep 269 - total £957
plus chagres £380
Remainder - £8211

then add court fee (currently £455 ) then presumably legal fee / s69 interest and whatnot to take it to a default judgment for £9940 doesn't seem too far out.

I'll redact the agreement and add it here.

No Default Notice provided as yet. ( Date of default on credit file is 28 November 2011 - notice of default issued 26 October 2011 according to the charges list above )

No court docs provided as yet ( only a notice of transfer for enforcement from 2012 )
Nothing relating to the repossession as yet ( only vehicle condition report)

[Amethyst]

Agreement ( there's other pages, demands and needs, finance proposal, insurance confirmation etc etc )