Car repossession

jacknife

I lost my job 6 months ago and i defaulted on a hire purchase agreement for my car

i was writing to the finance provider and told them of my circumstances and that i'm actively looking for work and i was working with MABS

it is slow enough getting a job and i have not paid anything for 6 months

finally i got a part time job and with social welfare i should be able to pay them back something

i had to move house and suddenly last night a debt collector called at my new address, i dont know how he got it as there is nothing linking me to the new address?

anyway he was very polite and he said nothing about repossession but said the best option is to hand the car back

There is E5k outstanding and 1 year left on the repayment, i know they cannot repossess without a court order but turning up at my home when i am in regular contact with them and working with MABS is out of line

I'm thinking about going to court and telling the judge i'm prepared to repay all that i owe i just need understanding on their part, loosing my job put me in dire financial difficulty

can anyone advise what to do next, i need a car for work,etc?

Can a debt collector call to my home and how did they trace me?

ELM327

Don't engage. (with debt collectors)
You have no contract with them and without a court order they have no basis or recourse to pursue you for the debt, other than as an agent of the company with which you have taken out the loan.

Working with mabs etc is all well and good but it's irrelevant as you have broken the terms of the loan.
If you have not paid anything for 6 months I would expect (depending on the outstanding amount owed) that they will be going to court. This will be damning on your financial history - missing payments is bad enough but a default and court judgment means no further access to finance for 5-7 years.

Engage with the loan company, perhaps get the term extended and lower the payments. If you bought the car on HP you can hand it back with no penalty once you've paid over 50% of the capital on the loan. Do something proactive, because reactive is going to land you in a lot of hot water.

hi5

Not passing on your new address was not a good move from their point of view.

jacknife

hi5 wrote: »

Not passing on your new address was not a good move from their point of view.

my former address is still my postal address its i had to move out into a relatives house to get the house ready to sell, i'm in my former house every week

i dont know how they were able to trace me when there is no footprint to my current address

spoke to the bank and they are willing to talk