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Hi people , urgent help needed! My brother bought a car which moneybarn financed sometime end of 2014.The car insurance, mot, tax all expired more or less same time beginning of November! As it was not going to be till January that he was going to be able to sort everything he declared the car SORN! Come the 9th of January the car got stolen! He reported the matter to the police and moneybarn! Obviously it was VERY stupid of him not to have had insurance on the car! He has just received a letter from moneybarn that they now want all the remaining balance of close to £9K!! Or else they're taking him to court to enforce this demand! He has kept his monthly payments towards the agreement going not missed any payment! There is no way he can come up with that lump some! Help guys, what are his options as he is only able to maintain the monthly payment and nothing else! Please help, hes dreading the whole court experience and what the result might be! He has only until 24 th of February to come up with the 9 grand!
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Re: Uninsured Car financed by Moneybarn car stolen!
Hello, few questions
1. have Moneybarn terminated the contract? e.g. have they sent you a letter saying as a result of the car being stolen they have now terminated the agreement and require your brother to pay?
2. Are you able to upload a redacted copy of the agreement for us to review
3. does the agreement state whether or not the car must be taxed and insured throughout the agreement?If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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LEGAL DISCLAIMER
Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice. -
Re: Uninsured Car financed by Moneybarn car stolen!
Thanks for the response! 1-Moneybarn have not terminated the agreement, they seem to be suggesting that because the car was stolen when it was not insured my brother breached the agreement because this prejudices their ownership or interest in the vehicle! therefore because of that breach they want the remaining balance on the car of £9K! How do I upload the agreement on here?Comment
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Re: Uninsured Car financed by Moneybarn car stolen!
3.3.1 and 3.3.2 covers it I think -Comment
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Re: Uninsured Car financed by Moneybarn car stolen!
[QUOTE=paulajayne;620525]3.3.1 and 3.3.2 covers it I think -[/QU
Thought so too but what payment options has he got if he can't pay the full balance owing, bearing in mind he's still making his monthly instalments?Comment
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Re: Uninsured Car financed by Moneybarn car stolen!
Well first of all they haven't terminated the agreement so they would have to do that and claim for breach of contract. Has the car now been returned and is it damaged in any way?If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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LEGAL DISCLAIMER
Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.Comment
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Re: Uninsured Car financed by Moneybarn car stolen!
The car is still missing and unfortunately the police won't investigate the matter despite my brother giving them some leads of possible suspects! His main worry is the letter he has received from moneybarn demanding the full balance in view of the breach or else they say they'll take enforcement action through! So what in your opinion should he do if he can't raise that sum of money before it gets more complicated than it already is? Thanking you in advance for the information.Comment
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