Dell / CIT finance

crackdnutter

i purchased a laptop in feb 2009 and i took out a hire purchase agreement with CIT finance over 48 months at 70.40 a month. in August of this year i was unable to meet the monthly payments so instead i set up a standing order to CIT for 25 euro weekly, mid sept there was one week i couldn't make the 25 so i placed the standing order on hold, in stupidity i forgot it was on hold, last week i recieved a call from an english debt collector saying they had bought the debt and wanted either 6 monthly payments of 200 or 1000 within the month. otherwise they would reposses my laptop

they refused to give me a written address to send an offer to, i asked them to call me back friday they didn't, i did not recieve a letter notifying me of any of this, today i recieved a phonecall and they guy was really intimidating on the phone with a very thick scottish accent and very difficult to understand, i asked him for the address to send a written offer to and he refused and said i would be recieving a letter saying they were taking further action

this evening i recieved a phonecall from a lady of the same company i think its DTO or BTO its very hard to understand and i explained my offer that i will pay a standing order of €25 weekly until the end of november and settle the remaining 1000 then. She refused at first and then with some talking round she agreed, but kept saying i had already breached contract by not paying €233 euro on friday and that the conversation was recorded and i had agreed to it... i didn't, in the first place i was asked for 200 not 233

so she said i needed to fwd a income and expenditure and a proposed method of payment and offer in writing.. and the first installement of 25€ is to be recieved by them on friday... she gave me the iban ibec and ref numbers, but hung up before i could get an address, iv searched online but cant get the name of the company and hence cant get an address, also it takes 3 working days for an international money transfer to go through....

help?

jor el

Do not deal with a debt collection agency. Ignore everything from them. Contact the original finance company, and see what can be arranged. If they have no debt on their books, then technically you don't owe anything. If the debt is still there, then work out a payment plan with them, but do not have any more dealings with the collection agency.

You can probably get all incoming international calls barred on your phone to stop them phoning you.

foggy_lad

just to add to that by saying never give these debt collection companies any extra details about yourself no matter what they threaten as most wont have anything except your phone number and address so why give them a work number or address that they can intimidate you with.

crackdnutter

thanks foggy lad its a path id love to take unfortunately i contacted the original finance company and they have in act fact sold the debt to the collection agency and stated to me that the contract now lies with them and not the original company and the man i was speaking to was very apologetic and said his hands were tied that there was nothing he could do there is an outstanding debt and i do owe that...

Sponge Bob

On a HP deal

1. The Finance company owns the laptop not you
2. The 'half rule' may apply or not...if you can pay off half the deal , thereby making it to January including any interest and penalties incurred to date then they may have to accept you returning it to them and terminating.

No point sending money to CIT by standing order either, ask the agency for bank details so you can reactivate the s/o and reach half way.

hwo the **** did the laptop cost €2000? That is crazy money

testicle

Did you even tell CIT that you were changing the terms of your payment?

crackdnutter

yes of course there was 145 arrears on the account, cleared that in one payment then simply asked could i pay weekly by standing order instead? and they said yeah no problem how much would i like to pay per week i said 25 they said grand...

Sponge Bob

Too late now they sold the debt ( probably for a tenner or twenty sobs) , mind you I would ring CIT who no longer own the debt and ask them whether the half rule applies to that agreement.

If it does ask the collection agency for a full statement and a "voluntary surrender form" and BOTH in the post with no phone calls, ta.

If they do not send them you can complain to the financial regulator straight off.

crackdnutter

i don't wanna loose my laptop....

the total agreement was 2534 over 36 months non inclusive of a €211 deposit

of the 2534 theres 1081 outstanding...

does that qualify for for half rule?, laptop is in top nickand insured by dell for another 1.5 years...

Sponge Bob

crackdnutter wrote: »

of the 2534 theres 1081 outstanding...

does that qualify for for half rule?, laptop is in top nickand insured by dell for another 1.5 years...

Then you made half way , read the original agreement so. Does it say

"This is a Hire Purchase agreement under the Blah Blah Act 19xx. " somewhere up top or under the small print.

What Act(s) is(are) mentioned ???

€2500 for a laptop, christ on a bleedin bike Buying near worthless insurance as well, priceless.

crackdnutter

credit agreement regulated by the consumer credit act 1995

Sponge Bob

No mention of a 1946 act anywhere...no matter how small the print. ??

Read this , you may have a personal loan not a HP deal. This means you 'own' the laptop though.

http://www.askaboutmoney.com/showthread.php?t=142486

also read this

http://www.boards.ie/vbulletin/showthread.php?p=67171815

dudara

Better suited to Banking & Insurance & Pensions at this stage.

dudara

crackdnutter

**update**

called into the mabs office there, and because ive so much information they saw me straight away..

the lady there cant understand how the debt was sold so quickly by CIT and wonders if it was a mistake on their part.

Should also note that i've identified the credit collection company as BPO, glasgow

Also BPO are in serious breech of the law, it is in fact good man sponge bob a loan and i own the laptop and there is no way BPO can move to reposses it with out a court judgement.

On my behalf mabs are going to liase with both creditors to get a better picture of the situation and propose an offer of payment on my behalf that is affordable to me.

Also these "verbal contracts" that BPO have engaged me in by recording the phone calls are null and void because they are failing to provide address and the required information for me to facilitate my offer of payment

thoughts?