GMAC VT

[R0b]

Re: GMAC VT

Afternoon, I'm not sure what letter you are referring to but there's nothing there that suggests its a letter.

At the end of the day it is GMAC who has the onus of proving the claim, so why should you chase about after them?

Personally, I hate to play ping pong and send letters back and forth reiterating the same position. A simple letter to GMAC outlining that they have provided no satisfactory evidence to their alleged right to the damages and until they do provide you with evidence or they issue proceedings (which you will defend in full) then you will not correspond anymore.

[HHEPPY]

Re: GMAC VT

Thanks Rob,

It's not really a letter just an automated one I think.

I have drafted out a letter asking them to confirm their claim, either the one previously advised by Shoosmiths, relating to Mileage or this one suggesting it is the balance of the finance that is owed as it is not clear and should be one or the other!

I'm only chasing after them because that is what I have had to do all along and further proves that they are acting unreasonably should the case go to court.

regards,

Andrew

[R0b]

Re: GMAC VT

If you've previously made yourself clear by asking for the evidence and they've failed to do so, then that would be sufficient to prove they are acting unreasonably.

It is up to you however, just keep an eye on your credit report on Noddle and Experian (Experian has a free credit matcher which shows your credit score only).

[HHEPPY]

Re: GMAC VT

Hi Rob,

Radio silence from GMAC until I receive a short letter from them yesterday, rather than posting the whole letter I will just write it out word for word on here as it isn't very long at all.

They detail the balance outstanding, which is interesting as my credit report shows it at £0

Following your recent voluntary termination, the vehicle subject to this agreement has now been sold.

Please submit payment to this office at the address shown below. To make payment by credit or debit card please contact the office. Alternatively, please contact us to other payment options or arrangements [they have missed a word out there, not me]

It comes from the litigation and legal recoveries dept.

What would you suggest here?

completely ignore it?

Ask for details of the sale as it seems to have taken some considerable time?

Thank them for the letter, but point out that as this was a voluntary termination I have no further liability.

Look forward to hearing from you.

regards,

Andrew

[HHEPPY]

Re: GMAC VT

Hi Rob,

Hope all is well.

Would you be kind enough to have a look at my latest update on the situation in regard to a letter I recently received from GMAC.

Kind regards,

Andrew

[R0b]

Re: GMAC VT

Hi Andrew sorry for not getting back to you.

I'm generally in favour of responding unless you get to a point of stalemate, in which case I would not enter into further correspondence unless there is fresh evidence/information that comes to light or they instruct solicitors / issue proceedings.

If that is the letter word for word then it gives no information about what liability is owed, how much for and why they think the balance is owed.

There is no harm in writing back to them asking for this information and if you ignore them then you could potentially run the risk of having to defend a claim against you, though I've never seen GMAC issue proceedings before - not on here at least. Make sure you have kept all of your paperwork previously and not thrown it out just in case it does escalate.

[HHEPPY]

Re: GMAC VT

Thanks Rob,

I will reply to them on that basis, requesting details of what the amount relates to.

my credit report shows a balance of £0 on that agreement but it does not state that the account is "settled"

Whilst the vehicle may well have been sold, if the account is at £0 then surely nothing further can be due?

regards,

Andrew

[HHEPPY]

Re: GMAC VT

Hi Rob,

I have received today from GMAC an income and expenditure sheet which they are expecting me to complete, along with a photocopy of a FCA factsheet with regards arrears.

The letter also makes reference to discussing a discount or reduction in the amount due.

Now forgive me here, but I VT'd this agreement so there cannot be any further amounts due under the agreement surely?

I cannot see where they would have the powers to be able to add amounts back onto any agreement.

The way I see this, GMAC are trying it on here and I find the way they are referring to this as arrears is a very underhand way of conducting themselves, enclosing a FCA factsheet seems to me to be a shameful practice, when they have no right to do so whatsoever.

I am minded to respond by saying something along the lines of the following

I am in receipt of your letter dated 12th September 2017 which encloses an income and expenditure questionnaire.
As you will recall, the above agreement was voluntarily terminated, as is my legal (and contractual) right under the consumer credit act 1974, and as I had paid the required amount under that agreement to be able to do so that agreement is now ended (Terminated)

I would therefore be grateful if you would confirm how this outstanding amount can be classed as "arrears" when the agreement has in fact been terminated.

I find that your use of the term "arrears" and the enclosure of a FCA factsheet to back this up as a misleading and shameful practice.

In my previous letter dated 6th September I did request confirmation as to how this figure was arrived at, your response has not dealt with my enquiry, so at present I am no further along in my decision making process in terms of whether or not I consider your request acceptable, reasonable or even legal.

I would therefore be grateful if you would deal with the request made in my previous letter.

should you continue with this current line of correspondence I will have no other choice but to report you to the FCA for misconduct, at which time I will also enclose details of the time I have taken in dealing with this matter and charge out at an hourly rate of £250.
Furthermore, you should refrain from any attempt to add your claimed "arrears" to the agreement onto my credit report, as that is something which you are not entitled to do, again, my time dealing with this will be billed along with the cost of any damage that would be done to my creditworthiness

What are your thoughts?

Too strong?

Kind regards,

Andrew

[R0b]

Re: GMAC VT

Not sure how you can justify £250 per hour for dealing with the matter, that is probably unrealistic. I wouldn't mention anything about your credit report unless you need to, don't want to give them a further incentive.

You could mention that they have failed to respond at all in relation to your last letter and you consider that any claim is therefore groundless and the continuing letters are deemed harassment and that if they continue, you reserve the right to bring a claim against GMAC without any further notice.

[HHEPPY]

Re: GMAC VT

Rob,

thanks for the reply, I will respond along the lines you suggest.

I will let you know what response I receive.

Kind regards,

Andrew

[HHEPPY]

Re: GMAC VT

Hi Rob,

They have now come back to me with a breakdown of the liability.

£42 is for damage to the interior (scuff marks)
£35.67 is for the balance due under the GAP policy which was added to the finance

£1,700 for excess mileage.

They have included a copy of the agreement, highlighting the section which covers excess mileage and GAP insurance, they have failed to highlight the section about Voluntary Termination which clearly states that once I have paid half the total amount £xxxxxxx and taken reasonable care of the good there will be nothing more to pay.

As I had paid over the required 50% figure and took reasonable care of the vehicle then surely that is the end of it?

Do they have any grounds on the basis that the excess mileage is detailed in the agreement rather than on a separate agreement?

I would appreciate your thoughts.

Kind regards,

Andrew

As I have VT'd this agreement

[HHEPPY]

Re: GMAC VT

Hi Rob,

What are your thoughts on this?

further to the above, they have not (just) started ringing and emailing me to discuss my account.

my thoughts on that are to ask them to stop that and only communicate by letter.

I'd appreciate your thoughts please.

Kind regards,

Andrew

[seduraed]

Re: GMAC VT

I think you are due to pay the gap insurance. I would pay that . The excess mileage charge has been contentious for some time.

[HHEPPY]

Re: GMAC VT

Many thanks for that, I was unclear regarding gap and damage.

looking at some of Rob's recent responses on gmac it appears that they are good at chasing up their clients who have chosen to vt, but they are yet to go further with any action, is that a fair assessment?

regards,

Andrew

[R0b]

Re: GMAC VT

The GAP insurance is generally rolled into the total amount payable, so what they do is they tag it onto the end of the credit given for the value of the vehicle and then add the interest rate on top and you pay one fixed instalment. GMAC and others argue that it is a value added product and separate but if that is the case then why did they roll it into the total amount payable and not add this separately as well as a separate direct direct? In this instance its arguable that you don't need to pay the full amount just because GMAC may have paid for it upfront.

Whether you want to pay it or not is entirely up to you, if you know the insurers for the GAP then you might be able to obtain a pro rata refund from it and use that to offset any payment if you wish to make it.

Yes, GMAC don't really go to court from what I've seen, but that does not mean they will never.