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Alice H
Alice H, Solicitor/Partner
Category: Law
Satisfied Customers: 2850
Experience:  Partner in national law firm
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Bought a car from carcraft with there in house finance

Customer Question

Hi
Bought a car from carcraft with there in house finance which was all in one finance, was also told that I could not have this finance without there DHP warranty to run along side the finance. Unfortunately both companies have gone into administration and have not been kept informed on what is going to happen next only been told that I know longer have any warranty with this vehicle and they have adjusted my repayments accordingly, as they have broken there contract with me am I still obliged to keep making repayments on this vehicle, as they have second finance company acting as a collecting agent,I have no legal agreement to say how long I have got to continue payments for and who is the legal owner of the vehicle as the original finance company no longer exists.
Many thanks
Mandy
Submitted: 2 years ago.
Category: Law
Expert:  Alice H replied 2 years ago.
Have you asked anybody for your finance agreement? Have you asked the new company to explain on what basis they are collecting money from you?
Customer: replied 2 years ago.
As far as we are aware the collecting agents marsh finance will continue to collect my payments and have adjusted my monthly payments because they cannot supply me with a warranty and said they are not sending me a new updated agreement to sign with the amount adjusted for the warranty.
Expert:  Alice H replied 2 years ago.
OK. Under the Consumer Credit Act you are entitled to copies of your original credit agreement and copies of any documents relating to the assignment of this loan to Marsh. So you need to write to Marsh requesting a copy of the finance agreement and the assignment documents. They have to supply you with this infromation by law. You might not be able to leave this arrangement simply because the finance company has changed - it really depends on the terms of the original arrangement. If there has been a breach of the original agreement then you might be able to exit - but doing so until you have looked at the paperwork is dangerous because they might put a mark against your credit file plus they may try and collect the balance.
Expert:  Alice H replied 2 years ago.
Happy to discuss further if needed.