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advantage finance problems!!

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  • advantage finance problems!!

    Hi. I hope I can get some help on here. You all helped me last year with different issues.
    I really needed a car with a poor credit rating. I was with my husband and even though awful amount. I could at that time afford it.
    My husband left me 2 years ago and I have really struggled financially with lots of debt.
    I have made payments most of the time but missed some.
    The car cost £3600
    The loan amounts to over £8000
    I have made payments of over £5000 but am in arrears.
    They keep asking me for more and more money on the repayments.

    I'm working with step change for all my financial problems and on a token payment plan.
    This with my rent is the only thing I.am making full payments too.
    My question ( sorry long winded ) is they are threatening to repossess my car.
    Even though I am doing my best and paying over the monthly payment to know catch up.
    So can they do that ? What is the process ?? Have I got any chance of keeping my car??
    They are the most unhelpful company. Totally distressing and calling daily. Even at work !!
    Thanks
    Tags: None

  • #2
    Re: advantage finance problems!!

    Sorry to hear about your troubles.

    I shall ask our car finance specialist to pop round. :yo:

    Comment


    • #3
      Re: advantage finance problems!!

      Originally posted by debbieg14 View Post
      Hi. I hope I can get some help on here. You all helped me last year with different issues.
      I really needed a car with a poor credit rating. I was with my husband and even though awful amount. I could at that time afford it.
      My husband left me 2 years ago and I have really struggled financially with lots of debt.
      I have made payments most of the time but missed some.
      The car cost £3600
      The loan amounts to over £8000
      I have made payments of over £5000 but am in arrears.
      They keep asking me for more and more money on the repayments.

      I'm working with step change for all my financial problems and on a token payment plan.
      This with my rent is the only thing I.am making full payments too.
      My question ( sorry long winded ) is they are threatening to repossess my car.
      Even though I am doing my best and paying over the monthly payment to know catch up.
      So can they do that ? What is the process ?? Have I got any chance of keeping my car??
      They are the most unhelpful company. Totally distressing and calling daily. Even at work !!
      Thanks
      HI firstly do not panic, I take it this is a HP agreement ?
      You have paid over one third of the agreement so they cannot just take the car back without first taking you to court and getting an order.
      Do not sign anything at this point.
      Can you put the agreement on here minus any identifying details and I will advise further.

      Comment


      • #4
        Re: advantage finance problems!!

        Thanks for reply. Problem is I can't find original agreement. So much to sort out since ex left that I must of chucked it or put it in his paperwork
        They got back to me last night. To say the directors had looked at my account and decided not to repossess. They now want a £50 token payment towards arrears. Then to ensure I make the £190 monthly payment. Final chance apparently

        Comment


        • #5
          Re: advantage finance problems!!

          tht sounds to me as if they have realised that they cannot repossess without going to court. Can you afford the repayment plan they re offering? Sending them £1 and a request for a copy of the agreement would be a good idea.

          Comment


          • #6
            Re: advantage finance problems!!

            I have sent that in the post today. I can't really. But with step change we decided this was the main debt to clear. Means it's paid off , I have a decent car to get to work in and then in can sort out the rest. I'm ok with it. Just as a company they don't give you a moment's peace !! They know my situation. They have my budget from debt counsellors. I'm single now grown up kids. Working my backside off to get out of this mess. Just gets me very depressed. Thanks for advice. I think I worried them as I have tried to look.into the legal side and did think.I was in a good position regarding repossession. Thanks again

            Comment


            • #7
              Hi can anyone help.
              Im also having problems with Advantage finance. I’ve paid 1/3 off my account and recently missed some payments. I emailed them last week to change payment dates, to be told that it was too late the car was out for repossession unless I paid £1500 before the repossession guy came, I asked when would that be, I was given his number he said he was coming on the Tuesday the following week, this was all in the Thursday, I panicked rang advantage back asking if I could have till Friday to get the money together which I was told no it had to be before the Tuesday or the the car was going. This was I’m possible to do, so I rang the repossession guy to arrange collecting the car away from from home as I hadn’t got the cash in time. He said I would have to be there to sign as it wasn’t at my house, I couldn’t do this as couldn’t get time off work in time he said, email advantage to tell them your voluntarily terminating the agreement and then my wife can just be there to hand to car over. This is what I did. Now I have since realised as I had paid 1/3 they needed a court order to repossess it, so I’ve been lied to and mislead into volunteering to sign it over. Help please.

              Comment


              • #8
                Not sure but phone Advantage finance advise them of your rights that you have paid over the amount and that they will have to take the case to Court as advised above, do not allow the car to be taken as you will have lost your bargaining power

                Comment


                • #9
                  Thank you, but it’s too late the car went, I Voluntarily Terminated it, as didn’t want them to repossess it. Once it’s sold, do I have to pay all the arrears in full? The arrears are very high as I reduced my monthly payments over the period covid hit. Also as I’m over the 50% mark I’ve paid just over, when the car is sold does that come off my arrears or off the remaining balance for the car? Thanks

                  Comment


                  • #10
                    Just to add the remaining full balance is £4300 and my arrears are £2900 of that amount.

                    Comment


                    • #11
                      Lucy how many payments had you missed at the time? And how much were your arrears at the time they repossessed or threatened too? Would they not even accept half and half a week later?

                      Comment

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