Help with bill of sale

[jontycrook]

Hi all and heres hoping somebody can help me

I made the obvious ( now ) mistake of advising the funding corporation that due to relationship breakdown i will be going bankrupt. They have now hounded me non stop for repossesion of my car. I have read with great interest all the posts on here and a lot of help has been gained. I am now in need of specific help/advice. Around two years ago i missed a payment and at the time they agreed to add it to the end of my agreement, they are now citing this as the reason that they are going to reposses the car. I have a man from the funding corp ( or at least i say he is, he states he works for separate company who liase with the police relating to cars on finance being stolen ). To be honest part of me wants to just hold my hands up and give up but after reading posts on here part of me feels why should i when they have been nothing but a nightmare for me from start to finish.The car was sold to me on a bill of sale with a credit agreement that states is regulated by the CCA 1974. This man is wanting me to tell him where the car is so he can collect it kind of now. Is it correct he has to have a stamped coy of the bill of sale to do this?? And also i read with interet about where a car can be repossesed from, can it be from a private work car park?? Any help greatfully received. It is not that i want to get away with owing money on the contrary i would rather pay i just cannot afford to pay for two months in one lump sum. I just feel they have bullied and harrassed me, ( including contacting my mother on her work mobile ) and have not been of any help at all.
With kindest regards
J

[Guest]

Re: Help with bill of sale

Hi all and heres hoping somebody can help me

I made the obvious ( now ) mistake of advising the funding corporation that due to relationship breakdown i will be going bankrupt. They have now hounded me non stop for repossesion of my car. I have read with great interest all the posts on here and a lot of help has been gained. I am now in need of specific help/advice. Around two years ago i missed a payment and at the time they agreed to add it to the end of my agreement, they are now citing this as the reason that they are going to reposses the car. I have a man from the funding corp ( or at least i say he is, he states he works for separate company who liase with the police relating to cars on finance being stolen ). To be honest part of me wants to just hold my hands up and give up but after reading posts on here part of me feels why should i when they have been nothing but a nightmare for me from start to finish.The car was sold to me on a bill of sale with a credit agreement that states is regulated by the CCA 1974. This man is wanting me to tell him where the car is so he can collect it kind of now. Is it correct he has to have a stamped coy of the bill of sale to do this?? And also i read with interet about where a car can be repossesed from, can it be from a private work car park?? Any help greatfully received. It is not that i want to get away with owing money on the contrary i would rather pay i just cannot afford to pay for two months in one lump sum. I just feel they have bullied and harrassed me, ( including contacting my mother on her work mobile ) and have not been of any help at all.
With kindest regards
J

Unfortunately all BOS agreements will have a clause that says in the event of bankruptcy the goods will be reclaimable, they should serve you with a section 87 default notice before they can reclaim the car, but they do have a right to it.

They cannot enter your private property to re posses without an order from the court of course, but IMHO you will just be putting off the inevitable.

Once re-possessed they should knock the value of the car off your agreement debt, calculate your early settlement discount, you will then be due to pay the balance.

Sorry to be the barer of bad tidings, but they cannot make you pay what you do not have, if you are becoming bankrupt it will go on the list with any other creditors and get a pro-rata payment from the receivers office.

[jontycrook]

Re: Help with bill of sale

Unfortunately all BOS agreements will have a clause that says in the event of bankruptcy the goods will be reclaimable, they should serve you with a section 87 default notice before they can reclaim the car, but they do have a right to it.

They cannot enter your private property to re posses without an order from the court of course, but IMHO you will just be putting off the inevitable.

Once re-possessed they should knock the value of the car off your agreement debt, calculate your early settlement discount, you will then be due to pay the balance.

Sorry to be the barer of bad tidings, but they cannot make you pay what you do not have, if you are becoming bankrupt it will go on the list with any other creditors and get a pro-rata payment from the receivers office.

Hi and thanks so much for your reply.
I noticed the clause in the bill of sale relating to bankruptcy but the point is that i am not yet doing it. In fact i have not put any wheels in motion at all. You are right about putting off the inevitable however can they be like this when i am not yet bankrupt so in theory the clause does not apply??
kindest regards
J

[charitynjw]

Re: Help with bill of sale

The trigger figure for bankruptsy should have been pegged to wages.

What could go wrong with that?

http://www.independent.co.uk/news/uk...n-8737169.html


Well, apart from that,...................................

[Guest]

Re: Help with bill of sale

OK, well if the bankruptcy is no longer on the table you need to tell them so, they should have issued you with a section 87 default notice before trying to repo the car. This would have given you 14 days to remedy any arrears. If this has not been issued they are prevented from claiming the vehicle by the act.

You need to write to them and phone them tell them that you have managed to forestall any need to go bankrupt and wish to continue with the agreement, tell them that if the arrears on the account merit a default notice that they must give you chance to remedy before the reclaim the vehicle. You should also mention that DNs are not generally issued uni ll there are at least three months arrears.