Voluntary Termination with Moneyway

[Kaztoo]

Hi all,

I have read through the VT guide and googled lots for info.

I bought a car on finance via moneyway nearly 2 years ago. Within 7 months there was a coolant issue resulting in an £800 bill. I’ve never trusted the car since then. I have negative equity on it… I looked at part exchanging but cannot afford a new car and clear the £3k plus outstanding finance and the car is 10 years old. So I decided to VT. I have never missed a payment and absolutely cannot afford to have any blips on my credit file due to the terms of my employment. I’ve read some real horror stories so I am quite scared about this process. I owe less than £400 towards the 50% and am happy to pay it.

i have used a template from here (many thanks!) and emailed the vt team. I had an automated reply saying they cannot discuss my account via email due to my privacy. My question is, Is that normal or are they reluctant to put anything in writing? They had no issues emailing settlement figures or the like before. I’m worried this is the start of a nightmare that could affect my job. Any advice would be much appreciated

[Pezza54]

Hi
Welcome to LB
My advice is to send the finance company a signed letter, posted "signed for" delivery
Unfortunately this does mean a trip to the post office
You could add in your letter that your email address is secure and emails are your preference for future correspondence
If the fc refuses your request for vt, make a formal complaint by letter, and if this doesn't work, refer your complaint to the FOS