Car Finance Deficit - Almost 6 years ago.

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

Well here's an interesting one. I sent the letters recorded delivery as advised on Tuesday.

I have received a letter this morning (Saturday) from the solicitors advising me that "The fee earner with conduct of the matter is on holiday until 22nd July 2014 and will reply upon her return".

Interestingly this will mean that they will miss the CPR 7 day limit and also the CCA 12 working day limit if the information is not received by the 24th.

Any advice ?

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

Okay, well despite the above I have now received all documents requested from the solicitors.

Copy Hire Purchase Agreement dated 28/01/2008.
Default notice dated 20/06/2008.
Notice of termination dated 07/07/2008.
Formal demand dated 15/07/2008.
Copy of sales invoice upon sale of the vehicle dated 13/02/2009.

So am I right in thinking I can defend this under a statute barred ? The default date is 20/06/2008 so the last payment must have been before this making it over 6 years.

Any guidance would be greatly appreciated.

Many thanks.

[Guest]

Re: Car Finance Deficit - Almost 6 years ago.

I thik the date of the claim was about the 4/07 ?

It seems very convenient that the termination notices and the demand should be dated the 7/07 which would put them 3 days the right side of the statute barr period.

It makes no difference because the SB starts 6 years after they are entitled to enforce, at the latest this would be 14 days form the date of the default notice(the remedy period)
There is a school of thought which says it is earlier than this and will actually be when the default notice was sent. Do you have any record of when you made your last payments on the agreement.

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

I thik the date of the claim was about the 4/07 ?

It seems very convenient that the termination notices and the demand should be dated the 7/07 which would put them 3 days the right side of the statute barr period.

It makes no difference because the SB starts 6 years after they are entitled to enforce, at the latest this would be 14 days form the date of the default notice(the remedy period)
There is a school of thought which says it is earlier than this and will actually be when the default notice was sent. Do you have any record of when you made your last payments on the agreement.

The issue date on the court papers is 02/07/2014.

I have no record, but generally as a rule all my bills are paid around the same date, so going from the paperwork a default was logged on the 20/06/2008, I usually make my payments on the 18 of every month, and I doubt that they could lodge a default 2 days later, so in all likelihood my last payment would have been 18/05/2008.

I can check this with the bank if need be, I can get a printout of 04/08 05/08 06/08 perhaps ?

Many thanks for your help.

[Guest]

Re: Car Finance Deficit - Almost 6 years ago.

The issue date on the court papers is 02/07/2014.

I have no record, but generally as a rule all my bills are paid around the same date, so going from the paperwork a default was logged on the 20/06/2008, I usually make my payments on the 18 of every month, and I doubt that they could lodge a default 2 days later, so in all likelihood my last payment would have been 18/05/2008.

I can check this with the bank if need be, I can get a printout of 04/08 05/08 06/08 perhaps ?

Many thanks for your help.

Yes I would it all just seems a bit to convenient to me that these dates so neatly coincide with the possible SB date. usually DN are not issued until the debtor misses a couple of payments, so if you can get you financial records for that period we can use the agreement to see when they were entitled to default the account.

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

Yes I would it all just seems a bit to convenient to me that these dates so neatly coincide with the possible SB date. usually DN are not issued until the debtor misses a couple of payments, so if you can get you financial records for that period we can use the agreement to see when they were entitled to default the account.

Well online banking seems to allow me to go back that far.

I can confirm that the last payment was made on the 19/05/2008. So really the next payment due on the 18/06/2008 was missed, funny that a default notice came 2 days later ! Maybe It had something to do with me telling them beforehand that the missed payment was likely to happen due to my financial circumstances at the time.

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

Would It help if I scanned in the agreement and documents removing any personal information ?

[Guest]

Re: Car Finance Deficit - Almost 6 years ago.

d it would be helpful to see the agreemnt particularily the financial details.

It is odd that they defaulted you so quickly after your last payment, if you requested for them to collect the vehicle, why did they send you default notice in a any case ?

Also there is o mention of the early settlement discount on the POC i notice.

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

I've taken photos of the documents and obscured some details.

Page 1
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[Guest]

Re: Car Finance Deficit - Almost 6 years ago.

Links don't work

[exa3z]

Re: Car Finance Deficit - Almost 6 years ago.

Links don't work

Oops apologies ! Try again, they should be fine now.

[ironman]

Re: Car Finance Deficit - Almost 6 years ago.

Bit of clarification Andy.

Is the date for statute barred from cause of action. That being when the last contractual payment was missed. Technically that is when the agreement has been breached and when the statute of limitations start. It can take many months for a creditor to default an account under 87(1)

So by my reasoning, the account will be statute barred from the missed last contractual payment, and not the service of the Default notice demanding remedy before enforcement

[Guest]

Re: Car Finance Deficit - Almost 6 years ago.

Yes the ere are arguments about the commencement of the SB date the case law says that the SB commences when the creditor is able to claim the full sums under the agreement ( i think that this is what we are gong to have to argue here). The creditor cannot demand full payment until he is able to terminate the agreement).

If he can terminate after a single missed payment is arguable, usually it is only after a couple and there will be a term in the contract which states this.

There is case law which points to the idea that the termination can only take place after the DN and subsequent termination, there is also case law which states that the DN may be a procedural bar only and the SB should run from the start of the process which would be the repudiatory breach.

[ironman]

Re: Car Finance Deficit - Almost 6 years ago.

Do we have a link to this case law. Only the court of appeal and above can set case law, not a District judge at the county court

I still say the cause of action will be from when the repudiatory breach ocurred, that is the last missed contractual payment.

Many thanks

[Guest]

Re: Car Finance Deficit - Almost 6 years ago.

Do we have a link to this case law. Only the court of appeal and above can set case law, not a District judge at the county court

I still say the cause of action will be from when the repudiatory breach ocurred, that is the last missed contractual payment.

Many thanks

That is what the O P will have to argue. the case law is BMW vs hart and it was a higher court although not specifically a regulated agreement so could be distinguished, hopefully cannot remember the other one at the moment but it is well documented.

The requirement fo an agremnt to be terminated before the full balance can be demanded is just common law.