Hi People,
Any advice would be appreciated.
In October 2007 I got a new job paying good money and decided to reward myself with a BMW 640. Unfortunately my wife became ill and I had to take the first 3 months off work unpaid. Consequently, the finance company - Duncton No1 - repossessed the car. I had paid a £5,000 deposit and £29,995 was financed.
Duncton sold the car and there was a deficit of around £2,000. Imagine my astonishment when I received a letter from Duncton and as per the condidtions of the agreement signed, I was still liable for the 45 months left of the agreement - totalling around £20,000.
I refused to pay and to this point they have managed to attach the outstanding debt to the equity in my home and have just applied for an attachment of earnings.
I originally agreed to pay the difference owing - £2,000 - but they seem to have me in a corner.
If anyone has any advice as to my chances of success in taking this to the top or indeed the legality of the conditions imposed in the contract I would be most grateful.
Any advice would be appreciated.
In October 2007 I got a new job paying good money and decided to reward myself with a BMW 640. Unfortunately my wife became ill and I had to take the first 3 months off work unpaid. Consequently, the finance company - Duncton No1 - repossessed the car. I had paid a £5,000 deposit and £29,995 was financed.
Duncton sold the car and there was a deficit of around £2,000. Imagine my astonishment when I received a letter from Duncton and as per the condidtions of the agreement signed, I was still liable for the 45 months left of the agreement - totalling around £20,000.
I refused to pay and to this point they have managed to attach the outstanding debt to the equity in my home and have just applied for an attachment of earnings.
I originally agreed to pay the difference owing - £2,000 - but they seem to have me in a corner.
If anyone has any advice as to my chances of success in taking this to the top or indeed the legality of the conditions imposed in the contract I would be most grateful.