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| Wcf Non-existing Hp Agreement; Legal advice needed! | |
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| Topic Started: Apr 30 2007, 12:42 PM (74 Views) | |
| andy2708 | Apr 30 2007, 12:42 PM Post #1 |
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I purchased a car from Welcome Finance in January 2004 with monthly repayments of £287.00. Back in January I decided to VT the car, there were ongoing disputes between Welcome and myself over this option. I went to Trading Standards to seek their help and they advised me that I would have to pay back all the outstanding amount left on the agreement, which is about £6000. The account was then passed over to their Collections Department. I was contacted by them and they discussed the option of starting a new agreement at a lower monthly payment (which was what I was after in the first place). It may seem crazy refinancing but I need the car for my job, so this is my best option (I think). They asked me to pay one instalment at the new rate of £165, which I did at the end of February, I haven’t paid any instalments since. I was then told they would draw up new papers for the agreement, since then I have had no contact from the either by phone or post. What should I do? Technically the old agreement is defunct now and I haven’t signed a new one. Where do I stand legally? As far as I can work out, as there is now signed contract I am within my rights to not make any further payments. Not sure how this would stand-up in court though? Any ideas? |
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| Bakedalasker | Apr 30 2007, 01:48 PM Post #2 |
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Andy2708, welcome to our forum. Reading your post I would say you are bound by the old agreement still. Not too sure if you have anything in writing regarding a new agreement but if you have not then I would say the old agreement is still alive. Welcome have a reputation of getting you to sign a new agreement. This is usually because their old agreements are unenforceable. Not worth the paper they are written on. We can get it checked out for you if you like. My fear for you here is that although you say you have paid one instalment of the new rate unless you have written proof of a new agreement offer they might chase you for the full remaining balance of the old agreement. As you want to keep the car my advice to you is to write to them and find out where you stand. You need to get something in writing. |
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12:43 PM Nov 8
