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Hi please can someone help I have sent a letter of VT using the template on hear. I have paid well over my liable ammount in the finance agreement. However they have replied saying they can not proceed because of arrears. The arrears are part of a debt management plan with step change. However I have paid almost 2000 more than what im liable for to date. What do I do ? The VT letter was sent on 27/09/19.
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Hi
It sounds like you haven't given the full story here, and I'm afraid that I am not a mind reader so I can't give you any real answer based on the information provided. I'm going to say right off the bat that the right to VT only exists whilst the agreement is still alive. That means if the finance company has terminated the agreement your right to VT is lost for good.
So you are in arrears but the question is whether the finance company actually terminated the agreement by issuing a default notice requiring you to pay the arrears before X date. If you entered into a payment plan before that due date then strictly speaking the agreement would not have terminated as the payment plan would have superseded the default notice.
The finance company must have given you a reason so have you asked them why they are rejecting your VT?If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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