Hi Forum. I have a car loan that I am default on. I received a letter from the Finance company dated 5/4/16 Default Notice. I immediately rang them explaining I have a block of land for sale and will finalise the amount owing immediately. Theale fell through and I rang the finance company again explaining this. I also advised them that I have another signed offer, which should be finalized eary July. I received a letter of demand dated 7/6/16. This letter also states that interest will be charged daily. Also, after constant demands of Repossesion, I sold the car at a considerable under valuation and informed them. The finance company, although very good about my predicament, were not concerned with the sale. I am on an age pension. They know this. Is this loan still considered as a Secure Loan? Where can I go from here? Thank you.