What happens now? any advice please??

[olliesalter1]

A couple of years ago I got my first proper job & stupidly went out & got a new car on finance, I then had to leave this job for personal reasons & couldnt keep up the monthly payments, the car was eventually repossessed after me having it for just 4 months but the company still said I had to pay the whole amount that I bought the car for (almost �7k), anyway i made some payments but all went a bit t*ts up really. They said if I could find �2k the other day they would clear the debt, but the only way i can get �2K is to get a loan, however this company have bad credited me so I cant get a loan from anywhere, irononically, cause they have bad credited me I cant pay them!!  Does anybody have any suggestions what I can do now and what normally happens when they send it to their 'Litigation Dept' as they have advised they will be doing now.

[jean88]

Did you find another job? If you are unemployed it would be very hard to make a payment. Try ringing them like andy hughes suggested and offer what you can afford, dont offer something that you cannot keep up with. They best way is to contact your local citizen advice bureau, they can help about debt problems and contact the loan company on your behalf if necessary.

[olliesalter1]

Thanks for your feedback! Yes am in other employment now.  I contacted them last night and they have said we can make an agreement on a new monthly payment. I was thinking that as it has now gone to the legal dept they wouldnt negotiate further on payment agreements but thanks to your advice I now know differntly!

[pilgrim3661]

If you dont pay they will take out a county court judgement against you and if you still refuse to pay they will get a warrant of distress against you and the court will instruct bailiffs to forcibly enter your home and take your possessions and sell them to pay the loan. The best thing you can do is offer them something, no matter how small, and stick to paying it regularly

[olliesalter1]

Thanks for all of the advice here.  I have now contacted them and made an arrangement to pay an amount monthly. Thanks again!