[Britinfrance]

Would anyone happen to know what would happen if I default on my French car loan now that I am back in the UK. Would the company come and retrieve the car and would I be fined (or worse)? Any advice or information please?

 

[hils]

I don't KNOW but I would hope they find you, demand the balance of the outstanding loan, possibly repossess the car, and fine you, so don't even dream about not paying it back.

People who do this kind of thing make it worse for those of us who DO pay our dues and abide by the law.

To be honest, I hope the car gets crushed and you find yourself in Court with mega-publicity.

NB I hope you have re-registered the car because, unless you still have a permanent residential address in France, you are breaking UK Law if you're driving it on the public highway on French plates (even if Scottish Law doesn't apply, presumably you drove it up through England?).

 

[DejW]

I'm not sure, a lot depends if you have good title to the car. Under uk hp contracts you don't own the car until you have paid the loan back.

HOWEVER, if you do default I would not like to be in your shoes if you ever came back. Your passport no is probaby in the fr systems, so you might suddenly find life becomes very difficult very quickly as you enter france in x years time.


DejW

Would anyone happen to know what would happen if I default on my French car loan now that I am back in the UK. Would the company come and retrieve the car and would I be fined (or worse)? Any advice or information please?

 

[EuroTrash]

Would anyone happen to know what would happen if I default on my French car loan now that I am back in the UK. Would the company come and retrieve the car and would I be fined (or worse)? Any advice or information please?

No, finance companies don't mind at all if you default on loans :der:

This has to be a wind-up

French companies can pursue debts through the UK courts, and vice versa. It's not hard to track people down these days, there is always a papertrail via banks and government agencies. It's not hard to track cars down either, the VIN number is always recorded on the registration document wherever they are. Are you seriously hoping that a finance company is just going to shrug their shoulders and write off a debt without raising a finger? Debt collection companies make their living out of fraudsters like you, it is what they do all day every day and they know all the tricks. They buy bad debts from finance companies and they are very motivated to collect the money because if they don't collect, they don't stay in business. You will be a number on their list, they have bought you and they won't cross you off until you've paid them and they've recouped the money they paid for you, plus some.

 

[Lost in Traduction]

No, finance companies don't mind at all if you default on loans :der:

This has to be a wind-up

French companies can pursue debts through the UK courts, and vice versa. It's not hard to track people down these days, there is always a papertrail via banks and government agencies. It's not hard to track cars down either, the VIN number is always recorded on the registration document wherever they are. Are you seriously hoping that a finance company is just going to shrug their shoulders and write off a debt without raising a finger? Debt collection companies make their living out of fraudsters like you, it is what they do all day every day and they know all the tricks. They buy bad debts from finance companies and they are very motivated to collect the money because if they don't collect, they don't stay in business. You will be a number on their list, they have bought you and they won't cross you off until you've paid them and they've recouped the money they paid for you, plus some.

I reckon the car insurance will keep running also. You can't stop car insurance simply by not paying. You must prove it's sold or scrapped or disabled at a garage

 

[Britinfrance]

Misunderstanding

It would appear that I didn't explain myself fully. I am unemployed now (personal reason) and would not deliberately default. I am asking what will no doubt happen, now that I cannot pay my debt?

 

[EuroTrash]

Wouldn't it be better to ask the finance company? You won't be the first, you won't be the last and no doubt they have procedures and policies in place to deal with this kind of situation. I imagine you hand the car back, they work out what is outstanding, and a payment schedule will be made that you can manage. The sooner you get in touch the better, because once you get behind, the penalties will start mounting up.

Silly question I suppose but did you have no loan protection insurance in place?

Also, did you tell them you were moving back to the UK with the car? It would be fairly unusual for them to have agreed to allow you to keep a car on finance and take it out of France.

 

[DejW]

I speak in general terms. Perhaps better to contact the bank / loan company BEFORE they contact you. I've seen the inside of a pers finance co in my consultant career. They have well oiled processes for dealing with delays and defaulters. If you communicate early and are honest with them they put you on the "nice" process because they are realistic and want to do business with you again in the future. If you try to take them for a ride you won't be the first to try and fail. As someone said they sell the debt to some seriously nasty people who are experienced in making life unpleasant.....avoid them at all costs.

DejW

 

[Bevdeforges]

Just one further caveat here: When I had my car loan back in Germany, there was a specific clause in the contract saying that if I moved outside of Germany, the remainder due on the loan became immediately due and payable. Now, this was almost 20 years ago before some of the "harmonisation" provisions came into play for the EU, but you probably should check your loan contract to see if there is a similar provision.
Cheers,
Bev