repossen

[peterbrown]

last year i bought a car from a well know company after about 7months i had a few problems they took the car back now they want 6,500 pound of me do ihave to pay this as i cant afford to

[Oneeyedvic]

If the total amount of credit was under �25,000 then the agreeement is regulated under the Consumer Credit Act. IF it is not then they can pretty much charge you what they want. It would also be non-regulated if you are a limited company Take out your original documnets. On there should be printed two figures. One is the third of the total cost of credit. If you have paid more than the amount specified they can not repossess your car without a court order. The next figure is th half figure. This is a get out clause on your behalf. That is the maximum they can charge you. Take your agreement down to the citizens advice bureau - they should be able to help you fully. If it is a regulated agreement, there are certain laws as to the amount they can get from you.