Hi can anyone advise or help?
I have car finance with Blue Motor Finance and my financial circumstances have changed and i can no longer afford the car. i am at the point were i can do a voluntary termination and rang them to see where i stand and how i go about this, i was informed by the advisor that i could no longer do a VT as my agreement had been terminated due to a default notice and they have entered me into a pre contract to keep the car.
Last year May/June time i rang as i had difficulties paying that months installment due to a financial emergency that took priority over anything else. i rang BMF to explain this and see what i could do, I.E if it was possible to have 1 month payment holiday. this was flatly refused as they don't offer this service and i was told by the advisor to cancel my DD and then ring up and make an arrangement to pay the arrears over a period of time (3 months) and everything would be ok.
I then received a alarming letter basically saying i had defaulted and they wanted the car back and still chase me for the full balance! i rang them and after speaking to a rude and very abrupt advisor who wasnt interested in what i had to say or was advised by his colleague, i set up a payment plan over 3 months to pay the 1 month i missed. i have looked on my credit report and there is no history of any defaults against my account only 1 month arrears which is now paid off and fully up to date.
My question is how can they terminate my agreement and i still have to make the payments and for them to enter me into a pre contract agreement to keep the car without my say so and i didnt sign any new paperwork to state i was happy to do this.
I still need to VT the vehicle so is there anyway i can still do this? are BMF just trying it on and hoping i leave it and carrying paying my finance even though i cant afford it?
any advice and/or help is very welcome!
thanks in advance
I have car finance with Blue Motor Finance and my financial circumstances have changed and i can no longer afford the car. i am at the point were i can do a voluntary termination and rang them to see where i stand and how i go about this, i was informed by the advisor that i could no longer do a VT as my agreement had been terminated due to a default notice and they have entered me into a pre contract to keep the car.
Last year May/June time i rang as i had difficulties paying that months installment due to a financial emergency that took priority over anything else. i rang BMF to explain this and see what i could do, I.E if it was possible to have 1 month payment holiday. this was flatly refused as they don't offer this service and i was told by the advisor to cancel my DD and then ring up and make an arrangement to pay the arrears over a period of time (3 months) and everything would be ok.
I then received a alarming letter basically saying i had defaulted and they wanted the car back and still chase me for the full balance! i rang them and after speaking to a rude and very abrupt advisor who wasnt interested in what i had to say or was advised by his colleague, i set up a payment plan over 3 months to pay the 1 month i missed. i have looked on my credit report and there is no history of any defaults against my account only 1 month arrears which is now paid off and fully up to date.
My question is how can they terminate my agreement and i still have to make the payments and for them to enter me into a pre contract agreement to keep the car without my say so and i didnt sign any new paperwork to state i was happy to do this.
I still need to VT the vehicle so is there anyway i can still do this? are BMF just trying it on and hoping i leave it and carrying paying my finance even though i cant afford it?
any advice and/or help is very welcome!
thanks in advance
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