An investigation last year by the BBC ‘Whistleblower’ programme into Yes Car Credit uncovered an operation where customers were lied to, car inspections were not properly carried out, some potentially dangerous cars were sold with serious faults and loans with extortionate interest rates of up to 497% offered.
After the subsequent closure of Yes Car Credit, its owners, Provident Financial stated it would still be collecting the outstanding £240 million loan amounts due.
Stephensons law firm is currently acting for over 300 genuine cases against Yes Car Credit, and since its partnership with the website www.carcreditcomplaints.co.uk, it has seen the number of enquiries rising. There are a number of disputes that can be raised varying from faulty vehicles to agreements that don’t meet the requirements of the Consumer Credit Act. If successful these could lead to outstanding bills being reduced or written off.
In many cases, the finance companies are starting bankruptcy cases against clients. It is however possible to oppose the bankruptcy petition. The Court will not make a bankruptcy order where the debt is disputed and there is clearly a genuine issue to be considered by the courts.
By serving a Notice of Intention to Oppose Bankruptcy petition the finance company can be given the option to withdraw the petition or alternatively re-list the hearing for a later date. This notice must be served on them no later than 7 days before the date of the hearing and if the Court decides there is a genuine dispute it will dismiss the petition. It may also be possible to recover legal costs if this happens.
The earlier a solicitor is instructed the better. Stephensons is instructed by clients from all over the UK and abroad. If you have any queries please contact Joanne McKay on 01616 966 229 or Email situ@stephensons.co.uk