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Please help. I voluntarily terminated my vehicle and had paid more than 50%. There was no arrears on account and the vehicle was collected before next payment due, I have the collection note. They have now sent me default notice for one payment and marked late payment on my credit record which is not true. I have raised case with Experian for this but now they have sent Notice of Arrears for an outstanding balance. I was told on phone when I originally told them I wanted to VT no further monies due what do I do about this Notice of Arrears please as I do not owe them anything in my opinion.
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Re: Notice of Arrears following VT
Who is the company that has sent he notice of arrears, have you received a letter from them acknowledging your VT or do you have proof that you sent the VT letter?
once you VT and you've paid half the amount they cannot send you a notice of arrears, especially if they have collected the car, they would be deemed to have accepted that you've paid at least half the total amount payable.
Does it state how much is owed is it a month or more?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: Notice of Arrears following VT
It is Close Brothers Motor Finance who sent me the Notice of Arrears and it's says balance owed 3.5K which includes the payment which they say was late and owed when it wasn't due to car being collected. When I started the VT they emailed me a form which they said I had to sign it was just confirming my requirement to VTComment
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Re: Notice of Arrears following VT
I have proof via email of what I sent them and it clearly states I wish to voluntary terminate vehicle and I have collection note etc and bank statements to prove vehicle collected before payment due etc and the fact I was not in arrears. They also sold the car at auction for 1500 less than it was worth. I have an excellent credit rating and don't want this to affect it. Is it worth contacting FCA and put in formal complaint?Comment
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Re: Notice of Arrears following VT
Just found letter in writing acknowledging my verbal request for VT as well ☺Comment
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Re: Notice of Arrears following VT
I'll take a look at this and reply later when I have timeIf 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: Notice of Arrears following VT
Thank you so much it is appreciatedComment
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Re: Notice of Arrears following VT
All sorted threatened them with FCA they are withdrawing late payment marker and updating agreement to zero balance and settled. I appreciate your time.Comment
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