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Advice needed on everlasting car loan

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  • #1

    Advice needed on everlasting car loan

    10 years ago took out car loan £10000.00 with GE Capital over 4 years. Paid ok for 2 years and due to illness was in reduced circumstances paid reduced rate for 3 years then 4 members of my family were killed in car crash and I did not work for a few months. GE took me to court and I started paying agreed rate of £100.00 per month then GE transfered loan to Santander. As I was no longer working (again) Santander took me to court and I was on £80.00 per month. Car was now costing too much to run (repair bills) Santander allowed me to sell and I sent the payment of £600.00 and as a thankyou present put they
    inhibition on house. I asked for redemption figure and was quoted £ 6000.00. My problem is I have been paying this albatross for 10 years and have no clue as to how to get rid of this debt. I seem to be paying interest upon interest upon interest. I have now almost turned my life around have job and staved off 2 evictions for house and have mortgage on track. I need advice how to get this last debt sorted I just cannot for some reason manage this. I have no details over the 10 years as to what I have paid and as it is now between 2 companys Santander refuse to try and help. I really need to sort this as I cannot afford to keep paying this and I feel (no Know) I am being conned.
    Any advice would be wonderful as they are now threatening to go for wages arresstment.
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  • #2
    Re: Advice needed on everlasting car loan

    Hi Anne,

    If it were me, & I had misplaced the info, I would start by asking Santander for all details via a Data Protection Act 'Subject Access Request'

    I won't re-invent the wheel - all the instructions on how to do that are here
    http://www.legalbeagles.info/forums/...ur-information

    Btw, you mention 2 companies; who exactly 'owns' the debt.
    CAVEAT LECTOR

    This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

    You and I do not see things as they are. We see things as we are.
    Cohen, Herb

    There is danger when a man throws his tongue into high gear before he
    gets his brain a-going.
    Phelps, C. C.

    "They couldn't hit an elephant at this distance!"
    The last words of John Sedgwick

    Comment

    • #3
      Re: Advice needed on everlasting car loan

      Many thanks for your reply.
      Santander now own the debt as GE sold it to them.
      I will ask for the info using your template letter. When I get the reply I will let you know what it contains and perhaps you could point me in the right direction as to what to do as I am certain they have taken me to the cleaners on interest charges.

      Thanks for all your help Alsation it is a good feeling that there are people to help.


      Regards Anne
      • 1 thank

      Comment

      • #4
        Re: Advice needed on everlasting car loan

        Your welcome, Anne.
        CAVEAT LECTOR

        This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

        You and I do not see things as they are. We see things as we are.
        Cohen, Herb

        There is danger when a man throws his tongue into high gear before he
        gets his brain a-going.
        Phelps, C. C.

        "They couldn't hit an elephant at this distance!"
        The last words of John Sedgwick

        Comment

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