Welcome finance

[Gd86]

Hi guys I’m brand new to this but really need a some help on this matter I took car finance out years ago I can’t temembef for what amount it’s been that long but I paid around 3500 off the car I took finance on then told them I could no longer afford it as my circumstances had changed they said they couldn’t help and that I had to keep paying till I reached 5000 this was not possible so the car ran out of tax and the deal took the vehicle , the company retrrieved the vehicle and auctioned the car I still receive letters to this day for a substantial amount owed but they had the car back I don’t understand can anyone help

[Amethyst]

Re: Welcome finance

So you tried to VT but couldn't reach the 50% paid, and the car was eventually reposessed by the finance company/dealer. Do you recall when this was? And have you had any contact with them since the reposession ? ( have you spoken to them/made any payments etc or just received letters which you've ignored ?)

The car will have been sold at auction at a loss and then you will have been charged any shortfall.

[seduraed]

Re: Welcome finance

If you hadn't reached the 50% mark Welcome will have processed the return as a voluntary surrender rather thane a voluntary termination. So yes I think you still owe on the car.