Tweet
Hi Guys,
Hoping for a bit of advice here regarding my car finance agreement and the actions of the finance company and also recent involvement of a 3rd party (DCA)
In short i have stupidly fallen into arrears on the agreement and have missed 3 contractual payments. I have wrote to the finance company explaining my current financial difficulty and also requested an increased direct debit payment as a mechanism to reduce the arrears over time.
The finance agreement seemingly ignored my first letter as notification from them was received threatening court action etc with no reference to my initial contact. Therefore, a follow up was sent comprising of my initial letter and also reference to their court threat. I feel that as i have paid over half of the agreement and have tried resolve amicably on my initial letter, this is an unwarranted reply.
In response to this letter the finance company only replied along the lines of “we thank you for your correspondence and appreciate your financial difficulties but in order to discuss please can you phone on ********”
Now i know the adage to not engage on such matters via phone so have not done this and furthermore have been in the process of seeking financial advice with a view to issuing a letter basically reiterating my previous points and stating that i do not wish to engage in telephone conversation. Within this letter i planned to also include a cheque to cover 1 missed payment and the payment due for this month meaning that the arrears would be just over £400 (surely not enough for court action especially since i offered an increased payment plan?!)
Now, i return home from work last night and find to my absolute horror a non-enveloped “note” from a company called P&A Receivables (Asset Recovery Division) based in Sheffield advising that they had called in reference to my car and to call the mobile number of a gentleman asap.
I was so livid by this as the note will have been read by both of my housemates and phoned the gentleman in question asking what exactly he was playing at. He advised (actually surprisingly polite) that he had been instructed by the finance company to pay me a visit due what they have alledgedly cited as a “breakdown in communication” (Incorrect as i have communication by recorded delivery!)
So really folks what are next steps here please? I am totally disgusted that this note has been passed through my letterbox and almost certain it breaches a number of guidelines set out by the ICO/OFT so intend on the appropriate complaints.
However, i am also concerned that such actions highlight the gravity of the situation as ultimately i wish to retain the car (my credit score probably wouldn’t allow a new one quite yet!) and avoid court action.
Thankfully i have paid over half of the agreement but am curious on whether i should now issue a payment for half the arrears if this is the kind of tactics the finance company are undertaking
Hoping for a bit of advice here regarding my car finance agreement and the actions of the finance company and also recent involvement of a 3rd party (DCA)
In short i have stupidly fallen into arrears on the agreement and have missed 3 contractual payments. I have wrote to the finance company explaining my current financial difficulty and also requested an increased direct debit payment as a mechanism to reduce the arrears over time.
The finance agreement seemingly ignored my first letter as notification from them was received threatening court action etc with no reference to my initial contact. Therefore, a follow up was sent comprising of my initial letter and also reference to their court threat. I feel that as i have paid over half of the agreement and have tried resolve amicably on my initial letter, this is an unwarranted reply.
In response to this letter the finance company only replied along the lines of “we thank you for your correspondence and appreciate your financial difficulties but in order to discuss please can you phone on ********”
Now i know the adage to not engage on such matters via phone so have not done this and furthermore have been in the process of seeking financial advice with a view to issuing a letter basically reiterating my previous points and stating that i do not wish to engage in telephone conversation. Within this letter i planned to also include a cheque to cover 1 missed payment and the payment due for this month meaning that the arrears would be just over £400 (surely not enough for court action especially since i offered an increased payment plan?!)
Now, i return home from work last night and find to my absolute horror a non-enveloped “note” from a company called P&A Receivables (Asset Recovery Division) based in Sheffield advising that they had called in reference to my car and to call the mobile number of a gentleman asap.
I was so livid by this as the note will have been read by both of my housemates and phoned the gentleman in question asking what exactly he was playing at. He advised (actually surprisingly polite) that he had been instructed by the finance company to pay me a visit due what they have alledgedly cited as a “breakdown in communication” (Incorrect as i have communication by recorded delivery!)
So really folks what are next steps here please? I am totally disgusted that this note has been passed through my letterbox and almost certain it breaches a number of guidelines set out by the ICO/OFT so intend on the appropriate complaints.
However, i am also concerned that such actions highlight the gravity of the situation as ultimately i wish to retain the car (my credit score probably wouldn’t allow a new one quite yet!) and avoid court action.
Thankfully i have paid over half of the agreement but am curious on whether i should now issue a payment for half the arrears if this is the kind of tactics the finance company are undertaking
Comment