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Finance question - written off


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#1 vwgtiking

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Posted 19 June 2017 - 06:11 PM

Long story short the car is written off and weshould be receiving £3128. The outstanding finance is 13 x £130. Question is will the finance company allow me stop paying the monthly payments and make a settlement once funds have been received by the insurance?


#2 gerrywac

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Posted 19 June 2017 - 06:55 PM

Ring your Insurers and ask how long to pay. I got a settlement cheque two days after agreement. Didn't even need to sign anything they just sent a covering letter confirming settlement with the cheque.

If you get it quick you could carry on as normal with the finance payments.

You could also contact the finance people and just ask about deferring a payment or making a full and final settlement.

There shouldn't be a problem and they might give a discount for early settlement



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#3 Mmalkie

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Posted 19 June 2017 - 09:01 PM

I'd call your finance company & ask how much for a settlement figure. The be-all & end-all is that they will get paid & paying them sooner may reduce the funds you need to pay them.

The horror story of my last write off is here, its worth a read...

https://uk-mkivs.net/...tal-loss-costs/


 


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