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Hi
i am new to the forum and hope someone can help me !
my car is on pcp and was written off totally not my fault . Ins co made an interim payment to me by cheque which they insisted I cash , I did and bought another car . I still owe around 15000 on pcp . I told the bank that I had bought another car they weren’t happy but were more annoyed with ins co for paying me and not them . I received 10k . I fully u tend to make the payments on the loan until paid off . Santander now want me to voluntary surrender car and have sent me a form to sign - not sent back yet as wanted advice . My questions are: do I have to make the payments? Do I have to make the balloon payment? I explained to them I’m reg disabled and unless I replaced the car I cldnt get to work. I’m very confused and need to know my rights . On the phone the bank are very vague but did say legally they can’t ask me to make the payments. Sorry this post so long but would welcome advice esp payment of the balloon payment . Many thanks
i am new to the forum and hope someone can help me !
my car is on pcp and was written off totally not my fault . Ins co made an interim payment to me by cheque which they insisted I cash , I did and bought another car . I still owe around 15000 on pcp . I told the bank that I had bought another car they weren’t happy but were more annoyed with ins co for paying me and not them . I received 10k . I fully u tend to make the payments on the loan until paid off . Santander now want me to voluntary surrender car and have sent me a form to sign - not sent back yet as wanted advice . My questions are: do I have to make the payments? Do I have to make the balloon payment? I explained to them I’m reg disabled and unless I replaced the car I cldnt get to work. I’m very confused and need to know my rights . On the phone the bank are very vague but did say legally they can’t ask me to make the payments. Sorry this post so long but would welcome advice esp payment of the balloon payment . Many thanks
