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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I took out a £50,000 loan in 2007 and I was supposed to pay

Customer Question

I took out a £50,000 loan in 2007 and I was supposed to pay back around £67,000. However, I called them after 3 years, which by then, I had already paid back around £37,000; to reduce my monthly instalments as I was having financial difficulties and at that time. I did this on three occasions and the lady I spoke to said that this wasn't a problem and to which then I asked how much extra will I be paying, she responded with "around £2000" and I had agreed that amount with her on the phone. So this put my total up to £69,000. Last year in July, I started calculating how much I have already paid and I have now paid over £69,000 already and they are still demanding an extra £12,000. Therefore I made a complaint and it is still an on going dispute and now they have repossessed my car without replying to my last letter and without any authorisation.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

Was this regulated by the Consumer Credit Act? Did they get a Court Order please?

Customer: I took a loan out and signed a contract with out being informed that it was a non regulated contract. They have increased the interest and i complained and then found them repossesing my car without any authorised documentation. Therefore,i would like to know What my remedies are as i have no income without this car and they have given me 10 days to respond
Alex Watts :

Was the car part of the loan, or was the loan for cash?

Customer: The car was part of the loan
Alex Watts :

But given as finance?

Customer: Yes the car has been financed
Alex Watts : Can I clarify anything for you about this today please?
Alex Watts : They have now gone against this contract and are in breach.
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
Ash and other Law Specialists are ready to help you
Customer: replied 2 years ago.
So what should I do from here on?
Expert:  Ash replied 2 years ago.
Sorry I see you have rated already.

You need to issue proceedings which you can do by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to court.

You are suing for loss and damage. So either the money back or delivery up of the car. I would suggest the latter.

The court will consider whether to make an order for them to deliver the goods back.

But complete form n1 and ask the court for an order.

Can I clarify anything?

Alex

Customer: replied 2 years ago.
Would you be able to clarify what an interim order is?

Thank you very much
Expert:  Ash replied 2 years ago.
An interim is a temporary order. A final one is just that - a final Order.

Alex

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