i bought a vehicle for £8,000 on credit

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dean.td
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by dean.td » Thu Jan 21, 2010 12:43 pm
i bought a vehicle for £8,000 on credit, in five months the engine seized, it had 36 months warranty still left over, i took the company to court and lost, the garantor, was my sister, since she has a house they have gone for her to get the loan back, it has now escalated to £20,000, how can i get the debt off her and onto my name, so i can pay for it, i live on a army pension of £350 per month, what do i do?

 

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rayb
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by rayb » Thu Jan 21, 2010 1:01 pm
Hi,

I am going 10 years back to my Car Finance days when I worked in the Industry and I am pretty sure that you cannot change it over and as your Sister was the Guarantor she will be liable if you cannot pay the Debt.

 

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Michael Peoples
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by Michael Peoples » Thu Jan 21, 2010 1:49 pm
Your sister should seek legal advice because when she signed a guarantee she agreed to stand over the payments in the event of default. I doubt if she could be liable for the costs involved in the court case which has increased the debt to such a level. There surely must be a cap on her liability.

 

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RHB
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by RHB » Thu Jan 21, 2010 1:57 pm
Would it not be worth appealing, an engine shouldn't seize on a new car?

 

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kallis3
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by kallis3 » Thu Jan 21, 2010 2:21 pm
Unless they were able to prove any negligence on your part, the engine would have been covered.

Might be worth having a word with Trading Standards?

 

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MelanieGiles
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by MelanieGiles » Thu Jan 21, 2010 7:41 pm
Bankruptcy would be an easy way out of this, if you have no assets at risk.
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