Honda Finance - Advice Please

A couple of years ago himself purchased a Honda Accord from the Honda dealership, well its the usual story, finances were low etc and the car payments stopped.
Total borrowed was £13,582.84 and the total paid so far is £6,993.80 51% paid.
We have had a couple of letters and visits from their representatives asking for money and we have written to them explaining our situation on 7/12/2007 enclosing an income and expenditure sheet, showing our financial situation and have offered £20 per month.
Today we have been contacted by one of their Debt collection people ' Anglia, PO Box 1051, Spalding, PE11 9BP', the guy was quite ok and said I'm here to help etc. Anyway he said that his company have been instructed by Honda to get payments or the car. Himself has yet again explained the financial situation and was told that we either have to come up with 50% of whats owed plus large monthly payments or give the car back (this is really not an option as the car is needed for the business, its cheaper to run than mine etc etc and is also a hatchback so he can put supplies etc in it).
We only have till Monday to get this sorted out.

I'm sure that I read somewhere that once you have paid a certain percentage of the car loan then it cannot be repossessed. Is this true and what percentage is it?
Can they insist on a very large downpayment 50% of whats owed AND large monthly payments?
He also said that he knows that they just cannot come and repossess the car and would have to get a court order to do so which would add over £3k to the debt, is this true.

We can probably up the payment offer to perhaps £100-£150 a month but certainly not the amount that they seem to be expecting, and definately not raise half the amount owing as a 'down payment'.

Anyone ?

[enaid]

Re: Honda Finance - Advice Please

Legal Issues Explained - Car Repossession

Looks like it's a third sappy

[Amy]

Re: Honda Finance - Advice Please

If you have paid a third of the total amount borrowed the car can only be repossessed by order of the court.

I would think £100-£150 would be more acceptable than £20. How much is the payment normally per month and have you paid more than a third?

[Sapphire]

Re: Honda Finance - Advice Please

Thanks Di and Amy for the replies.

Yes we have actually paid off 51% of the debt so its over half and not a third, so we are on a winner there.
I'm going to redo the income and expenditure sheet again this weekend and make sure that we can afford at least £100-£150 month and get that started again, the normal payment should be £286.00. To be honest its been one of those things that I've just let slide and now its back and biting us on the bum so to speak. Hopefully if we can start paying again Honda won't bother with the court order and will accept the payments. I'll do a covering letter as well and please can you correct my spelling and grammar Amy hun.
Also I willl send them an SAR and see if there are any charges that can be claimed back as well.

[TUTTSI]

Re: Honda Finance - Advice Please

Hi Saph

A few years back I had a problem with VW Finance, due to illness, I had completed a new mandate as the earlier one I cancelled when I could not pay on time. It appear that VW Finance did not receive it and instead of contacting me they sent a default notice. Because I was still ill at the time I had not opened all my post untill the last day of the default notice which was a Sunday. I immediately faxed to them a letter explaining that I would make a payment the next morning. But at 7:15am on Monday morning I could hear a comotion going on and it was the bailiff had reversed into the drive and had hooked up the car and wheel clamped it. Then he was bashing at the door very loudly. I went downstairs absolutley gob smacked and told him I was going to pay as soon as the office was opened. He told me unless I handed him the keys he was going to smash the window and I they would charge me for it. He was a complete bully and I begged him to wait untill 9am, he would not wait. I eventually gave him the keys as I did not want any further expense.

It appears from calling the National Debt helpline that if the car is parked on your private driveway then they canot take the car I belive without a court order whether you have paid at least a third or not,

Some months later I got landed with the bill, they sold the car at auction and received about £3K+ less than the market value plus loads of other charges which meant I would that I had to pay shed loads more than I originally owed.

I fought VW tooth and nail and I should have taken the court route but decided on the cheaper option and go through the FLA and went for arbitration. The Bailiff lied through his socks and so did VW and the Arbitration went against me. The only thing was that VW never put on the arbitration forms that I still owed them money. So as far as I was concerned I owed them nothing and this was written into the Arbitration Terms that we both had to sign.

Then VW took a court action for the money and I instructed a solicitor to act on my behalf. We eventually came to an impasse and since I did not want to get landed with more financial burden together with more legal fees and in case I lost I came to an agreement after negotiations with them to pay a lower sum. Thankfully this episode is over in my life.

I just wanted to highlight to you that they cannot take your car if it is parked on a private drive, just in case they try that one on in the early hours and you cannot get access to legal advice as others have said on this thread if you have paid a third or more.

Frankly, I do not trust these debt collectors and it is better to know the facts as I did not at that time. If they did come and catch you off guard photograph them, their vehicle and whatever you do unless they have a court order do not give them your keys.

Sorry to be so long winded...and hope that you can negotiate a payment to them, one which you can afford.
DSxx

[Sapphire]

Re: Honda Finance - Advice Please

Thanks for that Tuttsi, don't worry its on our drive and if they come on it I will have them for trespass. Himself spoke to the guy earlier and what is bothering me is that he is insisting that Honda have told him that they want at least half up front and large payments, oh and if we call Honda they won't deal with us as its all in his companies hands.
Errrrr hello call me suspicious but that sounds strangely to me like either
a) The debt has been sold on, in which case we can negotiate a settlement or something if we can get hold of the money and as they usually pay around 5p in the pound it could be a significant difference.
b) The debt has just been assigned to them in which case Honda will probably still talk to us, or
c) The guy is talking completely out of his arse and is trying it on.
Hmmmmm I think I shall do a search on his company and post back here my findings.

[Sapphire]

Re: Honda Finance - Advice Please

Well I've searched on Yell.com the name and the postcode and nothing is coming up, also Googled them and nothing. Companies house has so many under the name Anglia its amazing.
If anyone fancies a treasure hunt here's whats on his card:

URGENT
Call Stuart on ................

ANGLIA
PO BOX 1051
SPALDING
PE11 9BP

0871 200 1410

Nothing else on it, its weird.

[TUTTSI]

Re: Honda Finance - Advice Please

When I searched Google looking for the Association of Debt Collectors it showed in the seach Anglia Debt, but when I went into it it was a company called Fresh Finance they are licenced under the CCA 581255 and Data Protection Act 19982919061. Going on the web site did not have anything to do with Anglia yet that was the heading. Have you tried phoning the number to see what they answer. Also, they must be registered, would that be under the Department of Trade and Industry!
Perhaps you could make some enquiries there. There must certainly be a Debt Collectors Association as they are normally are registered.

[Sapphire]

Re: Honda Finance - Advice Please

Right I have taken advice from my very good friend Cetelco (Many thanks to you hun xxxxxxxxxxxxxxxx), and this is what he has said.

Deal with Honda direct - tell them that you are not at all comfortable dealing with a third party and would prefer to pay Honda.

They can demand anything they choose and often do in the hope that many will just pay - but the truth is, they are not bailiffs, they cannot seize any goods without the proper authority and in fact they have no right to even come and see you unless you expressly allow them too.

I would inform them that you are not going to deal with them, that they are not allowed to come back to your house and if they do, they will be committing the tort of trespass.

But you must also make an arrangement with Honda.

Finally, it does not cost £3000 to obtain a court order - more lies. I would ask for that in writing and see what they send you then

Pure genius in my humble opinion, and I shall be doing just that.