RCI Financial services car loan default

[Tools]

Re: RCI Financial services car loan default

Tools , have you taken into account the credit facility fee of £99, which usually has to be paid with the first installment

Where does it say that on the Credit agreement PKea?

[Bakedalasker]

Re: RCI Financial services car loan default

Hi guys,

I've had a read of Scottishlass story and my immediate thoughts are the none compliance of the CCA agreement. As indicated RFS have handed over everything to RCI this does smell like the agreement has been lost. This is not the first time this has happened and will not be the last.

I would recommend Scottishlass not pay anymore to this account until compliance of the CCA. Tbh I would expect RCI to write to Scottishlass and inform her they cannot comply so will not chase. It could be that simple.

I've had a look at the agreement and to be honest cannot see anything wrong with it. The credit facitily is on there so does not apply for an argument I'm afraid. Someone mention hidden commission and this is still a possibility but needs to be proved. A SAR might do this.

I doubt any court action will be carry out by RCI as things stand. Scottishlass has shown willingness to pay the debt and no judge likes giving judgement against a debtor in these circumstances. Besides if RCI do take her to court the most likely outcome would be a time order to pay the debt that would most likely be alot less than what RCI want.

Summing up I think we need to wait the compliance of the CCA. If that does not come soon we have a large negotiation tool to play with.

[scottishlass]

Re: RCI Financial services car loan default

Hi Thanks for all the help you guys,

as far as I can remember she traded in an old escort and we gave her £100 so it is possible that she got £200 as a trade in.

will hold tight for the time being and see if they can come up with everything I have asked for.

Thanks again for all the help much appreciated

[Tools]

Re: RCI Financial services car loan default

The mysterious £99 added can be seen in my calculations(assuming I have done them right I may be wrong and often am)

I agree entirely with Baked regarding ceasing making payments for now, that is not to say you should avoid the valid debt. The cash value/price of the car will always remain legally collectable, but without a valid CCA the interest and associated charges are not.

Can you take a second look at the figures on the agreement with a calculator, I am sure you will come up with the same as me.

[scottishlass]

Re: RCI Financial services car loan default

Hi Tools,

I have checked the figures and have come up with the same as you.

I have seen someone else query the same thing about an agreement regarding the £99. but can't remember where I have seen it, or what the answer was, will have a look about and see if I can find it.

I have spoken to my daughter about this and told her to give the monthly payment to my Mother to keep for her,there is no way we are trying to avoid the debt,just don't agree with all the charges that have been added.

[Bakedalasker]

Re: RCI Financial services car loan default

Hi guys, just had another look at the agreement. They dont make it simple do they.

I feel they have made a small mistake in the final payment of £151.89. If you look at the total payment on the right hand side the final one reads £250.89. This would account for the £99.

I dont think this would be an strong argument to challenge the agreement as the mistake they made means the borrower would be paying back less than borrowed. I doubt a judge would make the agreement unenforceable because of that.

Most car credit agreements have become challengable due to the clients having to take out the insurance products. These insurance products have opened a can of worms and are causing the lenders no end of trouble. Scottishlass agreement does not have any insurance so it makes it difficult to challenge.

As thinks stand at the moment the none compliance of the CCA request is our best bet. I agree with Tools that the price of the car is legal to collect but the charges are not at the moment. As Scottishlass daughter has been paying into this for a while and RCI dont comply then I can see RCI closing the account with no liability. What we will then have to look at if they do this is how much has been paid into the account against the price of the car. If it is more than the price then we have a challenge ot reclaim the difference.

[Tools]

Re: RCI Financial services car loan default

I have spoken to my daughter about this and told her to give the monthly payment to my Mother to keep for her,there is no way we are trying to avoid the debt,just don't agree with all the charges that have been added.

A very good idea SL and a good attitude regarding the debt.

Baked knows a hell of a lot more than I do on these matters SL and I thank him for his time on this one.

[scottishlass]

Re: RCI Financial services car loan default

A very good idea SL and a good attitude regarding the debt.

Baked knows a hell of a lot more than I do on these matters SL and I thank him for his time on this one.

Me too Tools much appreciated

[scottishlass]

Re: RCI Financial services car loan default

update on this one.

They are taking her to court......... she has hid this from me as she feels I have enough to deal with at the moment.......... silly girl.

Dated 26th March 2008

21 days from the 27th March to Defend or apply for time to pay

My feelings on this are she should ask for time to pay.

Any advice would be very much appreciated

[Amethyst]

Re: RCI Financial services car loan default

bugger

Can you scan in or type out the POC please.

Has she entered an acknowledgement of service ?

[scottishlass]

Re: RCI Financial services car loan default

Hi Ame,

I have scanned all the pages,but don't know how to remove her details etc
Please bear with me,you know how slow I am at these things

She hasn't done anything as yet.

[enaid]

Re: RCI Financial services car loan default

copy it first and then black out the details on the copy SL It should be still readableEnaid x

[scottishlass]

Re: RCI Financial services car loan default

I hope this works

[scottishlass]

Re: RCI Financial services car loan default

Update,

She has asked for time to pay, I wish we could have fought it, but due to time and serious lack of funds took this option.

I would like to thank Bakedalaska for all the help and time he gave to us.

I will let you know the outcome.

[enaid]

Re: RCI Financial services car loan default

Hi SL,
You take whatever option suits you the best, no reasons needed. You know too, if you need any further help with this you only need ask Enaid x