Chris

[chrisaly007]

Dear Sir/Madam
I am writing to you for some advice regarding a VT i have issued on my car finance,basically i was told my the garage which i bought the car from that i could issue a VT And they would accept this and that the matter would be closed but since then(about 3 weeks ago)the finance company has picked up my car sold it for £852.00(i had it valued at £1500) then i received a notice of sums in arrears letter telling me i still owe £3000.
Any advice would be greatly appreciated.
Kindest regards
Mr C Allison

[ostell]

This sounds like you stopped paying for the car. Did you actually issue a Voluntary termination or was it a voluntary surrender? Had you paid 50 % of the finance sum?

If you actioned a voluntary surrender then what has happened is correct.

[chrisaly007]

This sounds like you stopped paying for the car. Did you actually issue a Voluntary termination or was it a voluntary surrender? Had you paid 50 % of the finance sum?

If you actioned a voluntary surrender then what has happened is correct.

I havent stopped the direct debit yet the monthly payment came out of my bank account 3 days ago,i emailed the company wishing to exercise my right to making a VT as i had made over 50% of my payments,when i spoke to them 2 months ago i told them that i would be losing my job so i had to do this but they failed to mention that they would take the car sell it for a lot less than i could of then send me a letter saying i still owed the difference,if i had known this i would of just sold the car myself.