jonno54

I am paying off finance on my old car in germany, the finance people rang yesterday and said they now want the rest of the balance in one go instead of monthly or they are going to notify the authorities in canada of us not paying our loan and fleeing. They always knew where we were.
i know they are threatening us with this on purpose but what will happen if they do. we paid for a car, we asked to pay the balance off and it wasn´t until 5 months later we found out that we still owed money on the car and had never been contacted about it. we thought it was paid for before we disposed of it. they also said they did not receive a money transfer that as sent to them. the bank sent them details of the wire but that wasn´t good enough they want a copy of the wire which has been over a year and archived with the bank somewhere. We agreed to make monthly payments to them of outstanding balances but they now want far to much off us in one go we cant afford.
this is when the threats came in yesterday saying they will notify canadian authorities if they don´t get the rest of their money straight away. What can happen.

Tiaribbon

Surely you signed a legally binding finance contract with them? In which case, if you have complied with the terms and conditions of the loan then I cannot see any justification for them demanding the payment in full. I think you should check through the small print in your contract. The car is collateral for the finance company and perhaps should not have been taken out of Germany?

Tiaribbon

I possibly mis-understood - is the car no longer in your ownership? Is it still in Germany with new owners?

jonno54

the car is still in germany, before selling it we asked the finance company for an outstanding balance, we paid the amount we were quoted on the phne, it was 7 months before we were contacted by the new owners there was still a remainding balance outstanding, we informed the finance company we had no idea and that they had never tried to contact us after we paid the amount we assumed was outstanding, agreed to pay monthly the remainder. now they want the rest in full or they will let the canadian immigration know we owe them money.
we could have not let them know we had moved here and given them all our contact details if we were trying to do a runner but we did, they have all our contact details and we have co operated with everything since we found this out.
what could happen if they contact the immigration office as we cannot afford to pay the remainder in one full payment, they still won´t get their money immediately so it seems petty.

Tiaribbon

Why don't you go through all the paperwork you have relating to the vehicle and all your bank statements and just double-check how much has actually been paid. The discrepancy is whether you have paid the full amount so you need to check whether they are trying to fiddle you and if not, then how much more you are owe them. Did they send you a confirmation letter telling you how much the outstanding balance was?

It sounds like they are taking a very heavy-handed approach to this - the sooner you can sort it out, the better for all concerned.

jonno54

from paying what they informed us to being told teir was an outstandingbalance was from january to november of last year. when we moved we cleared out all our old papers and as we no longer owned the car threw them away not knowing this was going to happen, the bank verified the wire transfer in january but they now say the wre was for less than it was for, tey want a copy of the wire, when we contacted the bank they said it was now archived because it is oer a year and the account was closed so it is proving impossible to get a copy.
what can the canadian authorities do if they contact them.

Observer

The finance company can file a law suite for redress but not prevent you to
migrate. Financial trouble is what you don't want to follow you to Canada.

You can borrow from your friend or relatives and pay the outstanding loan.
Another way is to get a new loan co-signed by one of your relative or friend
which can be binding with local law and pay off.

The best thing for both party is to compromise.


"jonno54" <member13235@british_expats.com> wrote in message
news:[email protected]...
    > I am paying off finance on my old car in germany, the finance people
    > rang yesterday and said they now want the rest of the balance in one go
    > instead of monthly or they are going to notify the authorities in canada
    > of us not paying our loan and fleeing. They always knew where we were.
    > i
    > know they are threatening us with this on purpose but what will happen
    > if they do. we paid for a car, we asked to pay the balance off and it
    > wasn´t until 5 months later we found out that we still owed money on the
    > car and had never been contacted about it. we thought it was paid for
    > before we disposed of it. they also said they did not receive a money
    > transfer that as sent to them. the bank sent them details of the wire
    > but that wasn´t good enough they want a copy of the wire which has been
    > over a year and archived with the bank somewhere. We agreed to make
    > monthly payments to them of outstanding balances but they now want far
    > to much off us in one go we cant afford.
    > this is when the threats came
    > in yesterday saying they will notify canadian authorities if they don´t
    > get the rest of their money straight away. What can happen.
    > --
    > Posted via http://britishexpats.com

Fat

I have no banking experience, but I have a problem is believing your
part of story on difficulty getting old records from the banks archive.

Bank has systems standard procedure to handle this kind of encores,
offcource if the record is too old then they would take slightly longer
time.

In Singapore, I have done it. Only they might charge some fee for that.

But again every country has its own system.

jonno54 wrote:

    > from paying what they informed us to being told teir was an
    > outstandingbalance was from january to november of last year. when we
    > moved we cleared out all our old papers and as we no longer owned the
    > car threw them away not knowing this was going to happen, the bank
    > verified the wire transfer in january but they now say the wre was for
    > less than it was for, tey want a copy of the wire, when we contacted the
    > bank they said it was now archived because it is oer a year and the
    > account was closed so it is proving impossible to get a copy.
    > what can
    > the canadian authorities do if they contact them.
    >
    >

Andrew Miller

Correct, especially when dealing with German institution - all what hasn't
been burned during wars is still there and easy to retrieve and verify,
regardless how many centuries ago record was created. Something doesn't add
up here...

--

../..

Andrew Miller
Immigration Consultant
Vancouver, British Columbia
email: [email protected]
(delete REMOVE from the above address before sending email)
________________________________


"FAT" <[email protected]> wrote in message
news:[email protected]...
    > I have no banking experience, but I have a problem is believing your
    > part of story on difficulty getting old records from the banks archive.
    > Bank has systems standard procedure to handle this kind of encores,
    > offcource if the record is too old then they would take slightly longer
    > time.
    > In Singapore, I have done it. Only they might charge some fee for that.
    > But again every country has its own system.
    > jonno54 wrote:
    > > from paying what they informed us to being told teir was an
    > > outstandingbalance was from january to november of last year. when we
    > > moved we cleared out all our old papers and as we no longer owned the
    > > car threw them away not knowing this was going to happen, the bank
    > > verified the wire transfer in january but they now say the wre was for
    > > less than it was for, tey want a copy of the wire, when we contacted the
    > > bank they said it was now archived because it is oer a year and the
    > > account was closed so it is proving impossible to get a copy.
    > > what can
    > > the canadian authorities do if they contact them.
    > >
    > >

Tiaribbon

I would agree entirely with Andrew and Fat, my experience with any archived documents, regardless of which institution involed, is that they are there! They are legally obliged by European law to keep these documents, and so they are still at your disposal.

Is it not commonplace in Germany, as it is in the UK to pay off the remainder of any loan, with the proceeds of the sale of the goods that the loan was taken out for? The other thing that I don't understand is why would the new owners of the car be aware of the "fact" that you had not paid off the loan? What do they have to do with it? The contract is between you and the finance company.......it is you who has borrowed the money and not them?

Fat

Just to add.

I have serious problem if OP managed to sale the car without getting
clear things from bank.

In Singapore, once we take car loan, Bank would keep original log book
and other documents with them, release only after loan fully paid.

It is not possible to sale/transfer the car in someone else name without
clearing loan and getting original documents.

I believe other countries also have similar practice.

I am smelling rat here.


Tiaribbon wrote:
    > I would agree entirely with Andrew and Fat, my experience with any
    > archived documents, regardless of which institution involed, is that
    > they are there! They are legally obliged by European law to keep these
    > documents, and so they are still at your disposal.
    >
    > Is it not
    > commonplace in Germany, as it is in the UK to pay off the remainder of
    > any loan, with the proceeds of the sale of the goods that the loan was
    > taken out for? The other thing that I don't understand is why would
    > the new owners of the car be aware of the "fact" that you had not paid
    > off the loan? What do they have to do with it? The contract is
    > between you and the finance company.......it is you who has borrowed
    > the money and not them?
    >
    >

Ocean_surfer2000

sounds like a total loser.
I live in the greatest country on earth and I don't have to deal with
any B.S like this.

God Bless America!


Tiaribbon <member21048@british_expats.com> wrote in message news:<[email protected]>...
    > I would agree entirely with Andrew and Fat, my experience with any
    > archived documents, regardless of which institution involed, is that
    > they are there! They are legally obliged by European law to keep these
    > documents, and so they are still at your disposal.
    >
    > Is it not
    > commonplace in Germany, as it is in the UK to pay off the remainder of
    > any loan, with the proceeds of the sale of the goods that the loan was
    > taken out for? The other thing that I don't understand is why would
    > the new owners of the car be aware of the "fact" that you had not paid
    > off the loan? What do they have to do with it? The contract is
    > between you and the finance company.......it is you who has borrowed
    > the money and not them?

Fat

Whom you are u talking about???



ocean_surfer2000 wrote:
    > sounds like a total loser.
    > I live in the greatest country on earth and I don't have to deal with
    > any B.S like this.
    >
    > God Bless America!
    >
    >
    > Tiaribbon <member21048@british_expats.com> wrote in message news:<[email protected]>...
    >
    >>I would agree entirely with Andrew and Fat, my experience with any
    >>archived documents, regardless of which institution involed, is that
    >>they are there! They are legally obliged by European law to keep these
    >>documents, and so they are still at your disposal.
    >>Is it not
    >>commonplace in Germany, as it is in the UK to pay off the remainder of
    >>any loan, with the proceeds of the sale of the goods that the loan was
    >>taken out for? The other thing that I don't understand is why would
    >>the new owners of the car be aware of the "fact" that you had not paid
    >>off the loan? What do they have to do with it? The contract is
    >>between you and the finance company.......it is you who has borrowed
    >>the money and not them?

Fat

Now I know you post it wrong thread?????

FAT wrote:

    > Whom you are u talking about???
    >
    >
    >
    > ocean_surfer2000 wrote:
    >
    >> sounds like a total loser.
    >> I live in the greatest country on earth and I don't have to deal with
    >> any B.S like this.
    >> God Bless America!
    >> Tiaribbon <member21048@british_expats.com> wrote in message
    >> news:<[email protected]>...
    >>> I would agree entirely with Andrew and Fat, my experience with any
    >>> archived documents, regardless of which institution involed, is that
    >>> they are there! They are legally obliged by European law to keep these
    >>> documents, and so they are still at your disposal.
    >>> Is it not
    >>> commonplace in Germany, as it is in the UK to pay off the remainder of
    >>> any loan, with the proceeds of the sale of the goods that the loan was
    >>> taken out for? The other thing that I don't understand is why would
    >>> the new owners of the car be aware of the "fact" that you had not paid
    >>> off the loan? What do they have to do with it? The contract is
    >>> between you and the finance company.......it is you who has borrowed
    >>> the money and not them?
    >
    >

Robert

Hi Fat.

ocean surfer is one of the regular "trolls" in the group.