Sections 77a 86b CCA - documents hadn't been issued correctly.

[JayJay2014]

Hi, I received a letter today from my finance company (Hire purchase) and the letter stated that under sections 77a and 86b of the CCA 1974, they discovered that a number of these documents hadn’t been issued correctly.
They crediting me back with the interest paid, but can I cancel the agreement??

[Guest]

Re: Sections 77a 86b CCA - documents hadn't been issued correctly.

Hi, I received a letter today from my finance company (Hire purchase) and the letter stated that under sections 77a and 86b of the CCA 1974, they discovered that a number of these documents hadn’t been issued correctly.
They crediting me back with the interest paid, but can I cancel the agreement??

Unsure of what you mean here. The refund was due to them not issuing the correctly formatted statements, the act says that if they do not issue these annually they cannot charge interest for the period in which they fail to do so.

You can terminate your agreement at any time irrespective of this, you will though be liable for the sums due at the point of termination.

[Amethyst]

Re: Sections 77a 86b CCA - documents hadn't been issued correctly.

Letter along these lines ?

[Guest]

Re: Sections 77a 86b CCA - documents hadn't been issued correctly.

Yes that is the one, the prescribed form on the HP statement must contain the reminder of the ability to voluntarily terminate.
However that ability is always there, has been since the contract was signed, if the OP wishes to voluntarily terminate the vehicle under section 99 of the CCA there is an excellent thread on here stated by Mr.Peterbard, a quick search will bring you to it.