4 August 2018 at 9:30 am #136094
hi i gave my car back to years ago i think its called voluntary give the car up ? i didn’t sign anything it was just a verbal discussion we had over the phone and then arrange to collect the car.
today i reviewed a letter 2 years later say i owe X amounts and its a large amount .
how can the right to some one 2 years later and ask for this to be paid .
are they at fault for this .
i need so me help and guidance as they want me to write in to offer a repayment.
as if i would of started paying this off 2 years ago then i would of reduced the debt massively so they have to resolve something on this as they are at fault .
7 August 2018 at 10:18 am #136306
Hi Jackie. It sounds like you undertook a voluntary surrender.
That means you give the car back to the finance company, they sell it to recover part of the debt and then bill you for whatever you still owe.
It’s very much a last-resort option, but I don’t know how thoroughly they explained everything or how thoroughly you explored your various options.
Not sure why it has taken two years for them to come back to you regarding the remaining debt. Yes, you still owe them the money so you’ll need to sort out something. I suggest speaking to a financial advisor to start with, and possibly a consumer lawyer if you think that the finance company is chasing you unfairly.
Editor, TheCarExpert.co.uk and