sold credit i clrarly couldn't afford

[NANCY0511]

i was encouraged by a very persuasive salesman to drive away in a nearly new car and sign the hire purchase agreement but i had no accounts to prove earnings and he took it on the  tax credit that my wife gets who did not have to sign the agreement.two months later my wife and i split up and i tried to return the car as i was out of work but no-one would let me.nine months later black horse sent me a default notice  and took the car.leaving me with over seven thousand pounds owing and still no way of paying.have i any arguement to get out of this situation as i feel now that i was mis sold this finance.i have since found that i'm not the only one that black horse finance have done this to i have no car and a debt to them of over seven thousand pounds that i still can not pay.other than be warned next time does anyone have any advice

[Loosehead]

If they reposessed the car then your outstanding debt should have been reduced by what the car is worth or what they sold it for. Anyway black horse finance are nothing to do with the way the car was sold to you so you wont get very far with them. The salesman is on commission for selling the car and in this case selling the finance as well. Are you saying that the car has been reposessed but you have not had anything reduced off what you owe? or are you saying that �7000 is what is left owing after adjusting for the car? Black horse use a simple interest charged daily and added in monthly system, rather than the dreaded rule of 78 front loading so you should be able to get a settlement figure from them so you know what you really owe. Sounds like the �7000 may be the figure that you would pay if the deal went full term. I'll be more specific if you are!

[milly143]

I hope you don't take this offensively and I know it won't help but if you knew you couldnt afford it, you pehaps should not have taken it in the first place, no matter how persuasive the salesman was.

[NANCY0511]

this was a friend of mine i was asking help for. and he did take out insurance at the same timee that he was sold as cover for unemployment which is what happened to him but when he phoned to inform them he had lost his job the insurance declined to pay out.so ta for your comment but it didn't help and i was offended