VT'd car in February.. Heard nothing from finance company

[Pricey98]

I VT'd my Ford Focus in late February/early March this year after paying 50% of amount due under the agreement with Blue motor finance. When the inspection company VQS came to view the car, they picked up on numerous items/minor damage which was beyond fair wear and tear. The inspector estimated roughly around the £500 mark, and I wotkd receive a bill from Blue motor finance in due course. The strange thing is though, is that I've heard nothing. No communication from Blue motor finance at all. They have even marked the account as settled and closed it on my credit file. Is it safe to assume after I may have just got lucky and will not be receiving a bill, or do they sometimes take several months to arrive? I could just ring them I suppose, however I don't really want to give them any prompting to send me anything if I'm honest.

[R0b]

Hello

Probably best not to poke the bear on this one.

If they have marked your account as settled and closed I would download and save a copy of that credit report as evidence in case they (or someone else) comes after you later down the line. You can then use a copy of your report to show that by settling and closing the account, it is implied nothing further was owed.

Be aware that this is what finance companies should do to reflect your credit account, and they would still be within their rights to claim damage beyond reasonable care.

[Pricey98]

Thanks for the reply.

I guess it's just a question of wait and see really. I imagine there's no set timescale as such for them to send out a bill, although I was expecting it would be sooner than three months.

[R0b]

It really is. Most people don't but it is probably best practice to keep your documentation and evidence stored 6 years from when the termination took effect as that is the time period that Blue Motor Finance (or any debt purchaser if the alleged debt was sold on) would have to commence legal proceedings. Personally, I tend to keep them for around 7 years if possible because sometimes claims are issued on the wire as to whether or not a claim was issued in time.

Usually, you would expect something within 3 months if they wanted to recover losses but I believe there have been one or two postings on here that have been as long as 5 or 6 months.