Completed a VT now a debt collecting service is emailing me

[mrlexus]

I completed a VT with the help from the templates on this forum in November 2017. I have heard nothing from the finance company (specialist motor finance) since. Then all of a sudden a month ago I got a letter telling me that a debt collecting company has taken over the company and my account now belongs to them. I emailed them telling them that I completed a VT in 2017, the car was signed over via the DVLA and I have heard nothing from that company since.

The debt collector emailed me today stating that there is a £350 "shortfall" on the account. I don't see how there can be a shortfall when I paid them back exactly half of the agreement total.

What can I do if they keep hounding me? I have kept everything from the VT even the postage recipes.

Thanx

[R0b]

Hello, have you asked the debt collecting company what the shortfall relates to?

You need to keep communications in writing so you have a paper of what is being said.

It would be helpful to see a redacted copy of that letter as the debt collecting company may simply be a debt collector.

[mrlexus]

Hello, have you asked the debt collecting company what the shortfall relates to?

You need to keep communications in writing so you have a paper of what is being said.

It would be helpful to see a redacted copy of that letter as the debt collecting company may simply be a debt collector.

Hi

They sent my the following.

  Thank you for your email and the information provided regarding your account which is owned by Debt Managers (Services) Ltd, originally due for The Funding Corporation with an outstanding balance of £350.00. 

I can confirm that the account is for an agreement which was taken out with The Funding Corporation on 25 September 2015 for a Ford Fiesta, registration XXXXXX. The outstanding balance is the shortfall that was left.
 
 

I replied to this and stated there is no short fall and I can gladly send them copies of all my information I kept from the VT. They replied with their address so I'm in the process of photocopying everything to send to them.

My only main concern is that I cannot get my bank statements to go back to 2015 only 2016. What if they ask me to prove I made all the payments? Can the bank itself help me with this?

Thanx

[R0b]

You should be able to contact your bank for a statement if the account is still open, though they may charge you for printing one out. You could also make a subject access request to The Funding Corporation for a copy of everything they hold about you. this should also provide the information that you need.

In reality, they need to be specific about the shortfall and what it is they are claiming. Saying that a shortfall was left is vague and unclear so I'm guessing until they provide you with the proper information, you can't really give a detailed response other than a generic one.

[mrlexus]

....

Hi

They sent my the following.

Thank you for your email and the information provided regarding your account which is owned by Debt Managers (Services) Ltd, originally due for The Funding Corporation with an outstanding balance of £350.00.

I can confirm that the account is for an agreement which was taken out with The Funding Corporation on 25 September 2015 for a Ford Fiesta, registration XXXXXX. The outstanding balance is the shortfall that was left.

I replied to this and stated there is no short fall and I can gladly send them copies of all my information I kept from the VT. They replied with their address so I'm in the process of photocopying everything to send to them.

My only main concern is that I cannot get my bank statements to go back to 2015 only 2016. What if they ask me to prove I made all the payments? Can the bank itself help me with this?

Thanx

[mrlexus]

Hi

I got a letter back after sending them all my info, see below.

What should I be expecting back? My Anxiety on this is going up, I didn't expect this after over a year of nothing.

[R0b]

Sorry, I can't see anything?

[Amethyst]

Here



It seems that things are on hold while they get the information from the original creditor so just a case of waiting to see what they come back with.

I might be inclined to send a SAR to The Funding Corp yourself as well to find out yourself what's gone on and where any shortfall might have arisen - Subject Access Request Letter

• Email:
  
  customerservices@thefundingcorporation.com
• Address:
  Customer Services Team, The Funding Corporation, International House, Kingsfield Court, Chester Business Park, Chester, CH4 9RF

[mrlexus]

Here

It seems that things are on hold while they get the information from the original creditor so just a case of waiting to see what they come back with.

I might be inclined to send a SAR to The Funding Corp yourself as well to find out yourself what's gone on and where any shortfall might have arisen - Subject Access Request Letter

• Email:
  
  customerservices@thefundingcorporation.com
• Address:
  Customer Services Team, The Funding Corporation, International House, Kingsfield Court, Chester Business Park, Chester, CH4 9RF

Thank you for your help, I have sent a SAR today via email and recorded delivery.

[mrlexus]

@AMETHYST Ive had a reply from my SAR request. They sent me everything they hold for me.

The "short-fall" the debt company wanted from me is a Write-Off Fee of £350 from the sale of the car at auction.

I have added 2 photos below. I would appreciate any advice on if I am liable for this or not.

[Amethyst]

From that it looks more like a repossession fee ? Do you have the original correspondence from when you VT 'd - it was definitely a VT rather than a surrender ?

The £350 write off bit is the remaining balance that they have 'written off' ( sold to DMS ) it seems to have come from those repo fees and a difference between the car sale price and the amount of the advance remaining after the interest rebate.

Think you you need to dig out the original agreement, terms and VT notice and their acceptance etc.

R0b

[mrlexus]

From that it looks more like a repossession fee ? Do you have the original correspondence from when you VT 'd - it was definitely a VT rather than a surrender ?

The £350 write off bit is the remaining balance that they have 'written off' ( sold to DMS ) it seems to have come from those repo fees and a difference between the car sale price and the amount of the advance remaining after the interest rebate.

Think you you need to dig out the original agreement, terms and VT notice and their acceptance etc.

R0b

Its definitely a VT. Do I have to pay this fee as this "write-off fee is not in the original agreement I signed when buying the car.

[R0b]

If you don't know the breakdown of the write-off fee or what it relates to then write to them and get them to clarify the position. If it is what Amethyst says it is then I would say that no you are not required to pay those fees.

The write-off fee is not going to be in your HP agreement but it's likely to be internal terminology. You can't consider whether you are liable unless you know exactly what it is for so find out first and then decide whether to pay it or not.

[mrlexus]

Hi

It's been a while but the debt managers have finally written to me saying that The Funding Corporation insist that I owe this £350 shortfall. I have all my documentation and it was a VT that was done. I went through all the info they sent back to me in the SAR and (to my maths) I overpaid by £665.

I have emailed the debt managers back stating that in the credit consumer act 1974 (s.99) I was only liable for half of the agreement to which I overpaid and I am not liable for any fees thereafter for collection/ repossession etc.

Do I have a next move or is this just a waiting game?

[mrlexus]

The debt managers have now replied to me with the conclusion of their investigation and of course I have to pay as I am liable.

Please see their letter to me below.



Do I write to the Ombudsman? if so what can they do?

Thanx in advance.