i am not in a iva they are wanting my car back

[debra35]

i am not in a iva they are wanting my car back or they are going to get a court order for it wat happens if they get a court order will i be able to offer payment the car is on hire purchase i have paid nearly half but have some arrears i need to no wat happens wen it goes to court and how long it takes wen it does go to court thanks

[kabby3]

If you own more than half the car (this will be listed on your agreement the amount you should have paid) it will be more difficult for them to repossess the car however if they do get a court order they will be able to claim the car back. Have you tried talking to them and asking if you can come to an agreement are you embarking on an IVA. Its not a good market for cars and maybe they would give you some time to pay??

[sparklywatcher]

Debra you need to seek financial advice immediately. How much arrears do you have ? How many months have you missed ? Have you been making any payments towards it at all ?

[johnnybriggs]

I'm a bit puzzled why the lender isn't interested in a cash arrangement.

If the car is repossessed there are agents fees and auction costs etc on top of arrears and make good fees and possibly some other penalties - because the lender doesn't normally want the car, they make threats because they want the cash.

What does your account manager say? I can't imagine they are refusing payments.

[tele2002]

Hi Debra35, if you have paid half (and make sure you include any cash/px deposits) you could exercise your right to terminate the agreement if you are struggling to pay. This would leave you without a car, but also without the financial burden, and you could then get a runaround.... If they repossess this could add additional cash burden on you in administration fees and court fees etc etc

Definitely talk to an FA that will have no benefit in providing you the best advise. (i.e. won't try and sell you a loan or pension etc etc)