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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 71048
Experience:  Over 5 years in practice
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I agreed a deal on a vehicle with a value substantially lower

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I agreed a deal on a vehicle with a value substantially lower than the one I part exchanged from a dealer about 300 miles away from me.
It was delivered to my door, and once completed a sum of money was agreed that would be paid back to me by BAC transfer. The exchange was done, paperwork signed, and my vehicle was taken away. It's been 4 days now, and the payment has not come into my account. Now I'm very scared. I have formal paperwork from them stating the amount that would be paid to me, which is £4,500. I had no reason to think anything untoward would happen, as they are a large national company, but now I'm starting to wonder if I have been very stupid, and if so what can I do.
Thank you question. My name is ***** ***** I will try to help with this.
I presume they are UK based?
Customer: replied 3 years ago.

Yes they are UK based

If they are UK based and you have their address then you can always sue. It is a small claims court sum so it will be cheap and quick to issue against them. You can do so here
but I would give them a reasonable time to pay. Four days is not reasonable.
if they don't pay within 14 days send them a letter before action giving them a further 14 days and then sue if they do not act.
It is quite unlikely it would come to that.
Can I clarify anything ?
Customer: replied 3 years ago.

Thank you. Just to look at a worst case scenario, if the company went bankrupt, would I lose my money,

Yes, you could.
If you had a CCJ against them then you would be a preferential creditor though so at least you would get something.
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