BMW Voluntary Termination mark on credit file (@R0b)

[alancwright]

Having recently experienced financial difficulty buisness going into insolvency and divorce proceedings and having read through @R0b article on how to voluntary terminate a vehicle contract. http://www.legalbeagles.info/forums/...on-Your-rights I decided to terminate my biuiness vehicle which was costing £500+ per month and being over the 50% rule.

Since doing this in late July 2017 I have now been pursued by BMW with phone calls and letters on a constant weekly basis, I have spoken to BMW finance that I wanted my day in court but they said they were not going to take me to court but to leave a mark on my credit file, then after 6 months they would put a default notice on my file which according to the financial ombudsman would take 6 years to clear. The financial ombudsman sad they wouldn't take up my case at this point. I have recorded all my calls so i can play them and recall the conversations.

My question is can I have my day in court to STOP this from happening as hopefully i will be back on my feet. One option was to pay the amount off which isn't a great amount £2400 but i feel that the Section 99 of the CCA was put there for a reason and to protect people in my situation.

Any comments advice would be useful.

[R0b]

Re: BMW Voluntary Termination mark on credit file (@R0b)

Hello,

You can, but is likely to involve you in pursuing a claim against BMW for breach of data protection and/or negligence. The result of which is that BMW might counterclaim against you for the money allegedly owed.

What are the £2,400 charges made up of? I assume they relate to damages to the car and/or excess mileage? If so, what evidence do you have to counter the damages in particular?

P.s. was the contract for the vehicle taken out under a consumer credit contract ? because the VT rule doesn't apply to businesses (unless your a sole trader if i recall)

[alancwright]

Re: BMW Voluntary Termination mark on credit file (@R0b)

Hello,

You can, but is likely to involve you in pursuing a claim against BMW for breach of data protection and/or negligence. The result of which is that BMW might counterclaim against you for the money allegedly owed.
Ok Understood, Thanks

What are the £2,400 charges made up of? I assume they relate to damages to the car and/or excess mileage? If so, what evidence do you have to counter the damages in particular?
Excess mileage and some slight damage which I didn't sign as per advice

P.s. was the contract for the vehicle taken out under a consumer credit contract ? because the VT rule doesn't apply to businesses (unless your a sole trader if i recall)
it was a personal PCP under my name not the company and I just claimed mileage, so I assume covered by the CCA.

Hi Rob, Answers above thanks.

[R0b]

Re: BMW Voluntary Termination mark on credit file (@R0b)

Well I think the starting point is to obtain a copy of your credit report, to see what this 'marker' BMW are going to record. Usually the marker is a VT one which they are lawfully entitled to do as that reference is accurate, though it doesn't affect your credit rating. As for the reporting of a default after 6 months, this seems quite odd and I am not sure why BMW would wait 6 months to record a default. Anyway, take what they say with a pinch of salt and just see how things go. If there's no adverse entries to your credit file, then legally there is nothing you can do.

You can obtain a free copy of your credit report through Noddle or Money Saving Expert offer a free Experian version. I would sign up to both, unless you are already signed up and see what is on there in relation to this agreement.

If there are of course any adverse entries are you still willing to take BMW to court? And what happens if they counterclaim, are you still willing to do press ahead given that there may be a risk you could potentially lose? In which case if you pay off any money judgment awarded by the court within 1 month of the date of judgment, then it won't be recorded on your credit file, otherwise it will last for 6 years.

Also, was the car brand new or second hand?

[alancwright]

Re: BMW Voluntary Termination mark on credit file (@R0b)

I think it was the financial ombudsman who stated the default 6 months but he didn't seem an expert on the topic.

I will check the credit report in the couple of months. My backup plan would be to pay the Excess Mileage in installments and negotiate the damage out (circa £600) as it was in a very reasonable condition and they sent it directly through the Auctions so no repair , no cost to them.

Will keep you posted on events for others to learn from my experience. p.s. having b@lls of steel helps when dealing with these people i have learnt so far.

Thanks again

[alancwright]

Hi Rob,

I thought I would just update you on this as I am one year since doing the VT. In November BMW started putting VT markers on my account but in February ( six months after the VT) they added interest putting late payment markers on my credit file this has now been ongoing for 6 months but credit score has now plateaued unfortunately to poor even though I have no other bad marks against me or adverse credit.

I have just received my second late payment letter from BMW with more added interest so I am now writing to them with the help of the legal beagles template to remove this and to close down the matter, if they do not I will have to approach the Financial Ombudsman, Will keep you posted.

[R0b]

Good luck Alan, the FOS seem to find in favour of BMW these days so you are unlikely to get a positive result. Let us know how it goes.

For some background reading you may wish to look at the thread below

http://legalbeagles.info/forums/foru...excess-mileage