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Hi,
I would like some advice to give to my fiancee.
She bought a car on finance in October 2007 with British Credit Trust and due to certain circumstances was only able to make a few payments. The car was then given back to the finance company on her behalf (I don't have the full story, I wasn't around then, but she was unable to do anything regarding this 'handback')
She never heard anything from anybody until about 2 months ago when letters started arriving from MMF.
They were asking for £7142.19 (the original finance was £4800 plus fees and interest)
After a few of these, she wrote to MMF and asked for all relevant documentation regarding their Deed of Assignment.
She has today received a letter back from MMF stating that they have provided all documentation and enclosing a raft of letters. They included:
The original Credit Agreement dated October 2007 plus copies of related documents handed to BCT at the time.
A letter headed 'Gothia' showing they had sold debts on 15/5/06; 28/4/08 and 31/7/08 to MMF and/or UK Search Ltd This is signed and dated July 2011
A non letter headed letter supposedly from BCT entitled NOTIFICATION OF BALANCE OUTSTANDING this letter is dated 2/9/08. This was never originally received by her at all. It also shows how the current debt is calculated:
Total Amount Payable: £8354.15
Less payments rec'd: £141.00
Less Vehicle Sale Proceeds: £850.00
Balance Outstanding: £7363.15
Now there are a few things that don't appear right to me...
The 'Notice of Balance Outstanding' is on plain paper and not letter headed BCT paper. (all other BCT docs are headed) It could have been written by anyone. It has a 'computer' signature and is allegedly from 'Debt Recovery Department'
The Vehicle Sale Proceeds are incredibly low, I know a little about vehicle disposal as I was in the motor trade for 10 years. Even at auction, the value would have been higher.
There are no details of where and when the vehicle was disposed of and no proof of the disposal price.
The 'NOBO' letter is dated September 08 whereupon the Deed of Assigments showed debts bought were for earlier dates....why was BCT still chasing if they had sold the debt?
I am not sure if my thinking is correct, but it doesn't all seem legit to me.
She acknowledges there probably is a debt (not to MMF though!) but wants the figures to add up and the dates to tally before she does anything else.
Can anyone let me know if my 'queries' with the paperwork are justified or is that how things work?
I would like some advice to give to my fiancee.
She bought a car on finance in October 2007 with British Credit Trust and due to certain circumstances was only able to make a few payments. The car was then given back to the finance company on her behalf (I don't have the full story, I wasn't around then, but she was unable to do anything regarding this 'handback')
She never heard anything from anybody until about 2 months ago when letters started arriving from MMF.
They were asking for £7142.19 (the original finance was £4800 plus fees and interest)
After a few of these, she wrote to MMF and asked for all relevant documentation regarding their Deed of Assignment.
She has today received a letter back from MMF stating that they have provided all documentation and enclosing a raft of letters. They included:
The original Credit Agreement dated October 2007 plus copies of related documents handed to BCT at the time.
A letter headed 'Gothia' showing they had sold debts on 15/5/06; 28/4/08 and 31/7/08 to MMF and/or UK Search Ltd This is signed and dated July 2011
A non letter headed letter supposedly from BCT entitled NOTIFICATION OF BALANCE OUTSTANDING this letter is dated 2/9/08. This was never originally received by her at all. It also shows how the current debt is calculated:
Total Amount Payable: £8354.15
Less payments rec'd: £141.00
Less Vehicle Sale Proceeds: £850.00
Balance Outstanding: £7363.15
Now there are a few things that don't appear right to me...
The 'Notice of Balance Outstanding' is on plain paper and not letter headed BCT paper. (all other BCT docs are headed) It could have been written by anyone. It has a 'computer' signature and is allegedly from 'Debt Recovery Department'
The Vehicle Sale Proceeds are incredibly low, I know a little about vehicle disposal as I was in the motor trade for 10 years. Even at auction, the value would have been higher.
There are no details of where and when the vehicle was disposed of and no proof of the disposal price.
The 'NOBO' letter is dated September 08 whereupon the Deed of Assigments showed debts bought were for earlier dates....why was BCT still chasing if they had sold the debt?
I am not sure if my thinking is correct, but it doesn't all seem legit to me.
She acknowledges there probably is a debt (not to MMF though!) but wants the figures to add up and the dates to tally before she does anything else.
Can anyone let me know if my 'queries' with the paperwork are justified or is that how things work?
)
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