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john29
Starting Member
1 Posts |
 Posted - 18 November 2009 : 10:37:53
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| My situation has me somewhat confused.I approximately 20 months ago stood as a guarantor on a vehicle(van),for my son ,he is a kitchen fitter.It turns out that my son had somehow purchased the van in my name,so the agreement is wholly mine,I did not know this.He is behind on the payments and the company,(Advantage Finance ) are threatening me with repossession,plus court and ultimately a ccj.I am 61 years of age on the 29th of this month,I am physically wrecked by all of this and the attitude of my son,he is not at all bothered.I have declared Bankrupcy previously in 1994,this was with a business in which my partner was basically taking money from our business without my knowledge,I was working abroad at that time.I am worried sick what to do ,and have considered a bottle of tablets,may sound silly but I cannot go through this again,can you give me some advice please |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 18 November 2009 : 11:15:10
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hi and welcome to the forum
officially if you didn't sign the finance agreement it is fraud, do you want to pursue it???
the fnance company will want to repossess the vehicle and any shortfall will be asked for after sale.
is it likely your son will cough up or not???
it is not worth the bottle of tablets route it's only money!!!!!!!!!!!!
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 18 November 2009 : 11:23:23
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Hi and welcome to the forum.
First of all, Dave is right, it's definitely not worth the bottle of tablets route.
As Dave says, if your son has taken the agreement in your name it's fraud - even if you don't want to pursue it, would it be worth threatening that you are going to?
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
28 IPA payments made, 8 to go - in single figures! |
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theguvnor
Junior Member
100 Posts |
Posted - 18 November 2009 : 11:52:07
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obviously i dont know the full circs but thr very nature of being the guaranto rmeans that should your son fall behind u will make up the shortfalls? what exactly if anything did you sign?
- if you didnt sign anything than you are not liable for anything
- if you signed to say you would be a guarantor you need to establish the liabilty on you as the guarantor. try not to worry, worst case will be your son looses his van and, by the sound of his attitude it would be no more than he deserves.
have you sought legal advice re this? |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 18 November 2009 : 17:06:51
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Hi John
sorry to read your predicament
my dealings with advantage finance were at first very difficult, once i got through throu to the right person they were actually helpful.
the system has significantly changed since you had to go thro BR, the banks have to go through a set process the letters they send out are as close to threats as they can get away with, without actually threatening you. On the letters you will see lots of mays, coulds and what might happen is ..
do you have another family member that would help with a letter to the finance company, you appear little bit stressed with scenario and it may be easier to have a third party help with the letter.
explain the situation to the creditor and ask for copies of the initial agreement, then 20 months later you can read exactly who has signed for what.
if you are speaking to the finance company they should give you a 30 day rest from the calls whilst you look at issues.
Is your son the cant pay brigade or wont pay brigade... if he is also having difficulties he may be facing BR and will be as stressed as you.
If he is being beligerent and wont pay thinking that good old dad will bail him out then he is in for a rude awakening.
John please get rid of the tablets keep them away from temptation, life is far too important, you are far too important.
regards Richard |
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I cannot go through this again
