HiIf my finance company on a car loan has now said they are going to issue a court order to reclaim the cars as I have paid over a third of the finance, do they have to inform me when they apply to the court or when an order is given or give me a date when it will be heard. If the later when do they have to tell me?thank you
Province/Country relating to question : uk
-Could you explain your situation a little more?
I have been unable to pay the payments due to a loss of a job/income. I was on a payment plan for a while but broke this. The car balloon payment is also due at the end of may so the finance co. were not interested in any arrangements. The car is not worth what the outstanding balance is. I know I should of handed them back before the arrears but I was not aware of the law.
So why don't you give them the car back now?
Because once you have arrears you can't give the cars back. We also have the balloon payment
Thanks. This is not my area so I will opt out for another expert.Law Denning41099.6307278125
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You will first get a notice of default, setting out that you have breached the agreement.
If this is not rectified they may apply to the Court for an order that you return the car.
You will get a claim form through the post which you may file a defence.
So yes, you will know about it.
The matter will then be listed for a hearing - which you will notified of the time and date in advance.
At that stage, yes, you can attend Court.
It is possible that you could ask the Judge for a Time order to allow you to pay.
However if you are not working then yes, you could actually just not contest the order to return the car.
But even if you are in arrears you can voluntarily give the car back - it is called voluntary repossession.
If they say you can not do this - they are wrong.
They will just take the car, sell it and put the proceeds towards any arrears etc.
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