FiscalFool's UE Diary

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

Oh they've decided to act upon the DEFAULT. Letters uploaded for Niddy

Ermm, why are they mentioning "Goods" in there if you had a cash loan? Can you reiterate for me, so I am clear with this, what exactly did you do when you got this loan? Did you get a loan via the bank and they paid this to the dealer for the car or did they pay it into your account (as a normal loan) and then leave you to pay for the car.... exactly how did it all start?

Thing is, they are quoting something that is irrelevant and I feel it needs pointing out to them, ie what if you got a £5k loan for a wedding and honeymoon - would it say this next to "goods"? Would it hell, there would not be anything related to "goods" in any capacity!

Anyway, no need to stress about the letters, but please clarify for me again.

Thanks

[fiscalfool]

Re: FiscalFool's UE Diary - and General Journal!

I've been meaning to speak to you about this car-loan. It seems Santander are playing sneaky buggers.

Ok, the loan was arranged by the Car Dealership when I got the vehicle. The Loan agreement specifically mentions the car, but does not mention anything about right to repossess, or Voluntary Termination rights.

So about a year back I had a letter from Santander, a general one, mentioning Voluntary Termination. I gave them a call and they said "You cannot Voluntary Terminate as we have no financial interest in the vehicle" followed by "You can voluntary surrender, where we will auction and deduct from what you owe".

Therefore knowing they had no financial interest I went about selling it. I went to see a car dealer on Saturday, who let me drive 3 hours to get to him, to be told "I checked the HP on your car yesterday and there is an 'outstanding finance' marker on the file".

Now I'm confused. Lease Purchase and HP will certainly have a "finance marker" until the car is cleared. Mine is Personal Finance ... effectively a Loan, whereby Santander have stated they are not interested in the vehicle. Yet ... I believe they have either:
a) Put a "finance marker" on there as I have stopped paying.
b) Put a "finance marker" on there to ensure they are consulted before I sell the car.

I thought that for Personal Finance, they cannot and do not have a legal hold over the car, and therefore in my mind, the Finance Marker is incorrect.

BUT ... if I call Santander to get it removed, I can bet they won't play ball as I've defaulted and will just ask for their missed payments to be paid.

I think I have two options:
1) Tell them that what they have done is wrong, and to remove it so I can sell my assets due to financial problems, so I can start to pay them!
2) Tell them to take the sodding car ... and see me in court!


Of course giving up the car without the cash from a sale isn't really a great idea. The plan was to pay off a couple of bills and keep a cash reserve for emergencies.

Granted the car costs a fortune to run, but if I opt into work car scheme it will cost me just as much for a car through them. So net effect is no real saving in the short term.

[Never-In-Doubt]

Re: FiscalFool's UE Diary

Bloody hell - I knew this wasn't as clear cut as first thought!

Ok, there are clear rules about car and financing and if the dealer obtained credit for you, meaning you never seen a penny of the cash, and it was all done via the bank and him then technically this is under finance. However, that said - you should have been aware of this.

I think you need to be sending a SAR to the finance company and also write to the dealers HO and ask for copies of anything they have cos you feel that the agreement or terms may have been altered by the salesman being you were never told that there was finance outstanding.

Do you have the V5? Have you checked yourself to see if there is HP on it? If your agreement is a regulated Hire Purchase or Conditional Sale agreement then you will have the right to terminate the agreement after half of the payments have been made - but the agreement will stipulate this for you - or by the name of the agreement, regardless what the terms say!

Its easy to prove but you need to be certain on exactly what happened, forget phone calls - we need proof in black and white, like a copy of the ORIGINAL agreement - do you have yours? Anything...?

[Never-In-Doubt]

Re: FiscalFool's UE Diary

Similar case on here with the Debt Star - see this (Jen may the best person to speak to regards this you know as her hubby deals with it daily): ---> http://forums.all-about-debt.co.uk/s...ead.php?t=1001

[fiscalfool]

Re: FiscalFool's UE Diary

Similar case on here with the Debt Star - see this (Jen may the best person to speak to regards this you know as her hubby deals with it daily): ---> http://forums.all-about-debt.co.uk/s...ead.php?t=1001

Aye I posted here:
http://forums.all-about-debt.co.uk/s...2&postcount=22

[fiscalfool]

Re: FiscalFool's UE Diary

Bloody hell - I knew this wasn't as clear cut as first thought!

Ok, there are clear rules about car and financing and if the dealer obtained credit for you, meaning you never seen a penny of the cash, and it was all done via the bank and him then technically this is under finance. However, that said - you should have been aware of this.

I think you need to be sending a SAR to the finance company and also write to the dealers HO and ask for copies of anything they have cos you feel that the agreement or terms may have been altered by the salesman being you were never told that there was finance outstanding.

Do you have the V5? Have you checked yourself to see if there is HP on it? If your agreement is a regulated Hire Purchase or Conditional Sale agreement then you will have the right to terminate the agreement after half of the payments have been made - but the agreement will stipulate this for you - or by the name of the agreement, regardless what the terms say!

Its easy to prove but you need to be certain on exactly what happened, forget phone calls - we need proof in black and white, like a copy of the ORIGINAL agreement - do you have yours? Anything...?

Nope ... it's been a right PITA!!!

I was aware it was under finance ... but I understood there to be three methods of finance:
1) Hire Purchase - Anything less than 25k has a Voluntary Termination clause, and can be handed back half way.
2) Lease Purchase - The car belongs to the lease company until payments are completed ... not 100% on the inns and outs of this.
3) Personal Finance - Same as a loan, but arranged at point of purchase. But finance company have no interest in vehicle.

Sent CCA to finance company ... had that back, have uploaded it. Want me to send a SAR too ??? http://forums.all-about-debt.co.uk/s...3&postcount=17

I recall that the salesman managed to get Santander to do me a deal with the finance, as they were keen to get a foot in the door of the dealership. I usually had traditional HP, so that I could VT the cars half way through. But this time was limited on options, as wanted out of the previous car.

V5 - Yes I have it. I've just changed the address on it too.

Original Copy of contract ... yes I have this too. HAVE scanned and upload to usual section. "Fixed-sum loan agreement regulated by the consumer credit act 1974"
I also have a "Demands and Needs Report" from the dealership. Want that too?

[Never-In-Doubt]

Re: FiscalFool's UE Diary

Nope ... it's been a right PITA!!!

I was aware it was under finance ... but I understood there to be three methods of finance:
1) Hire Purchase - Anything less than 25k has a Voluntary Termination clause, and can be handed back half way.
2) Lease Purchase - The car belongs to the lease company until payments are completed ... not 100% on the inns and outs of this.
3) Personal Finance - Same as a loan, but arranged at point of purchase. But finance company have no interest in vehicle.

Sent CCA to finance company ... had that back, have uploaded it. Want me to send a SAR too ??? http://forums.all-about-debt.co.uk/s...3&postcount=17

I recall that the salesman managed to get Santander to do me a deal with the finance, as they were keen to get a foot in the door of the dealership. I usually had traditional HP, so that I could VT the cars half way through. But this time was limited on options, as wanted out of the previous car.

V5 - Yes I have it. I've just changed the address on it too.

Original Copy of contract ... yes I have this too. HAVE scanned and upload to usual section. "Fixed-sum loan agreement regulated by the consumer credit act 1974"
I also have a "Demands and Needs Report" from the dealership. Want that too?

Hiya

Can you do me a favour and have a word with Paul. from here, he will be best placed to advise on this cos i've not got the time to get that involved to be honest! Plus, it isn't as clear cut as we both thought....

Send Paul. a message here: ---> http://forums.all-about-debt.co.uk/s...ilmember&u=120

and link him to this post or see what he says, basically mention Niddy referred you for advice at this stage (as he is also a lawyer you see)...... but he knows his stuff and would be able to help a lot better than I can right now.

Cheers - keep me posted though>?

[fiscalfool]

Re: FiscalFool's UE Diary

Cheers Nid,

I've sent Paul a PM for his advice.

I'll let you know what he says.

[Never-In-Doubt]

Re: FiscalFool's UE Diary

Cheers Nid,

I've sent Paul a PM for his advice.

I'll let you know what he says.

Thanks mate

Did you click that link, i.e. to send an email? If not you're best to do that (thus I sent that link) as he doesn't always get online to see PM's (he's a busy dude as you can imagine)....

[fiscalfool]

Re: FiscalFool's UE Diary

Yeah ... I noticed that he hadn't got a huge postcount, and that your link to message via email was best.

Cheers

[Never-In-Doubt]

Re: FiscalFool's UE Diary

Yeah ... I noticed that he hadn't got a huge postcount, and that your link to message via email was best.

Cheers

Cheers mate - he is around, but just so busy what with case laws etc...... hey, so long as his firm keep setting precedent then i'm happy

Okies, keep me updated please.....

[fiscalfool]

Re: FiscalFool's UE Diary

Not heard anything back from him yet.

[fiscalfool]

Re: FiscalFool's UE Diary

Today's rant!

Before I moved house, I had used a PayDay loan company ... just as an interim for cash before the house sold.

Once I'd moved I needed them again, and it was fine. But I kept receiving incessant calls and SMS's. So I emailed them and asked them to stop the calls/texts.

This month I'm really stuck, it's the last month that I have to pay my ex back her share of the house proceeds. I duly logged into Payday loan site, and clicked on the loan. It didn't go through ... shite! I checked and there was no mobile or home number ... the staff member must have deleted it.

So I tried to go with just mobile number. No joy. Added my old house number ... no joy. Added my new house number ... still keeping old address. Woop, it said "OK ... accepted".

I then went back my work, and got an email saying "Unable to finalise for approval, and no approved!" .. I went to login to the site, and it said my user-id is no longer recognised.

Whoops I think they might have realised I've moved house!!! DOH.

.... So I finally think it's time to come clean to my parents about the situation I'm in. Fingers crossed they can lend me the cash I need to last the month out.

[Never-In-Doubt]

Re: FiscalFool's UE Diary

Who is the payday loan with (please don't say quickquid)!

Cancel your bank card as lost thus stopping them from taking funds and then see what happens, after all you've moved right....?

[fiscalfool]

Re: FiscalFool's UE Diary

PaydayUK.

I called them, and it was because there was no phone number on record.

could do with the dosh for a month or so!