Hi

Gary is right. They will pursue for the full amount and will want to reach a figure that you can afford. The person you sold the car to could also have te vehicle reposessed also to pay off some of the outstanding finance. Mail4Moy is also correct in that one of the first things I'd do is speak to the CAB and seek their advice.

Tim

I WOULD HAVE THOUGHT THAT THE REMAINING DEBT ON THE CAR WOULD HAVE TO BE PAID EITHER BY REPOSSESING THE CAR AND CHARGING THE REMAINING AMOUNT TO YOURSELF TO REPOSSES IN GOODS, AND AS YOU NO LONGER HAVE THE CAR THEY WILL PROB REPOSSES THE WHOLE REMAINING DEBT FROM YOUR OWN BELONGINGS IN YOUR HOUSE.

YOUR BEST BET IS TO TELL THEM YOUR OUTGOINGS AND INCOME AND THEN TELL THEM YOU CAN AFFORD SOMETHING LIKE A POUND AND THEN THEY WILL HAVE TO EXCEPT AS YOU ARE TRYING TO PAY THE DEBT OFF AND YOU HAVE VALID REASONS FOR DEFULTING, ALSO BY DOING IT THIS WAY YOU CAN BUILD UP YOUR CREDIT AGAIN.

u have bin done over, did u not take out unemployment insurance? if u didnt, its important that you do, as we all know that a job is not 100%u should go to the c a b, there good they will arange interest free payments for you what will siut you, hope you get sorted soon,

In April 2001 I took out finance for a car with Welcome - I didn't realise it at the time but the monthly repayments of £180 for a £2,500 were way over the top.

Anyway I fell behind with the payment so they restructured the agreement so I'd only pay £45 per month but the term would have been something like 7 years. Out of desperation I agreed.

I ended up out of work and couldn't even afford the above amount, so the account went to The Lewis Group, a firm who I believe to be debt collectors. They agreed with me that I could repay the remaining £3000 at a rate of £10 per week. With money being tight (I'm still unemployed) I've missed loads of payments and now they say they are going to hand over the account to a door-step collection person or something.

The problem is last year, I did something foolish - I sold the car. It had depreciated in value so much that I would never get more than £300 for it.

I believe this means I could technically be prosecuted for theft as the car was never fully mine.

What are my options now? If this door-step thing goes ahead, will I have to make an agreement to pay him? Can he apply (or try) to repossess the car? When I asked The Lewis Group if they were able to repossess it last year they said no - does this still apply?

If he does try to repossess it, given the current value of the car and the outstanding amount, is it likely I'd be prosecuted?