Voluntary termination issues

[Stables89]

Hi. Sorry if most things have been covered. Have read through the forums and used one of the template letters to voluntary terminate my HP. Sent the letter recorded delivery and it was received by the finance company and signed for very early monday morning. I have phoned them today and they are saying that its not on the system and she cant tell me how long it will take because sometimes the wording is not correct or dates and signatures are not correct! Am i right in thinking this is just them starting to stall already.

Can I now cancel my direct debit for 1/5/16 as the letter was dated 11/4/16 so i have given them the 14 days notice that it says on some threads on the forum? Can they stall and use things like wording or signatures to draw out the process?

Any help will be greatly appreciated

[Kati]

Re: Voluntary termination issues

[MENTION=71570]R0b[/MENTION] has a good guide to VT here - http://www.legalbeagles.info/forums/...ry-Termination

(I've tagged him too, so he should be along to advise soon ) xx

[R0b]

Re: Voluntary termination issues

Hello,

there is no legal requirement to formally set out, give reasons, sign or whatever excuse they say before you can actually VT the agreement. The Consumer Credit Act merely states you must notify them and this can be through email, letter, over the phone, in person, SMS, twitter, facebook etc. unless the agreement stipulates how the notice should be given.

So the excuse of not correct date or signature is not correct. You have proof of when you sent it and when it was delivered so make sure you keep that to hand and I would scan it, take a photo or something as an additional copy in case you lose it.

You could also cancel your DD as your liability to make the monthly payments once notice has been given and they have received it. Nothing in the CCA says you must give a certain number of days notice

[Stables89]

Re: Voluntary termination issues

Thanks for the help was just worried that if they dragged it out and i didnt pay they would say that i had defaulted and no longer can VT. Maybe i will phone back and tell them that the DD is cancelled and see if they "find" the letter. What would be the next step after that. Should i wait a few days and then send them your template letter about picking up the car and cancelling insurance etc. Or hold off on that for now?

Thanks

[R0b]

Re: Voluntary termination issues

They probably will drag it out no doubt, you will also have the option to go to the ombudsman if you like, who are hit and miss but even if you are not successful at that stage they would need to take you to court and it is generally not commercially viable for them to do so knowing that they will probably lose.

Who is the lender?
How old is the vehicle?
Any damage on the vehicle?

You should really keep everything in written format if possible, or if not follow up with an email straight after to confirm what was discussed. Is there an email address you can correspond with? you don't always have to correspond by letter if there are alternative methods available.

As for the letter, yes I would give them a few days and find out why they haven't confirmed receipt of the letter despite being signed for on Monday.

[Stables89]

Re: Voluntary termination issues

The lender is moneyway. Vehicle is 6 years old. There is not any excessive damage really. A few stone chips on the front. Having a bigger chip fixed today. The only thing concerning me is that the alloy wheels have started to corrode quite badly. There is an e-mail address. the woman i spoke with said that i could take a photo of the letter and e-mail it to them if i wanted to

[R0b]

Re: Voluntary termination issues

It sounds like you might be alright on that front although depending on how bad the corroded alloys are. Have you got any quotes as to the cost of fixing it? are the alloys prone to corrosion on that vehicle? For example, Ford Ka's used to be prone to corrosion around the door of the fuel tank.

I would suggest sending both a photo of the letter and the recorded delivery receipt so there is no argument that the letter was not delivered on the day you refer to. Also worth mentioning that you require the vehicle to be collected within 14 days. Also worth taking photographs of the vehicle both inside and out prior to handover in case there is further damage along the way they try to claim for.

[Stables89]

Re: Voluntary termination issues

Sent them this

Good afternoon,

After a discussion with one of the customer services team I was informed that they had no record that I had notified you off exercising my Right to voluntarily terminate my motor finance Agreement number ******. As discussed with customer services Please find attached a copy of the letter sent to you on 07/04/16. This letter was sent recorded deliveryand was signed for at your premises on 11/04/16. Please also find attached proof of this in the form off a post office receipt and the tracking information.

My direct debit has now been cancelled as I am no longer liable for the monthly payments as you have received my letter for termination of the agreement.

The vehicle now requires to be collected by yourself within 14 days of the letter of termination (07/04/2016)


Sound ok?

[Stables89]

Re: Voluntary termination issues

Hi again

Phoned the company today. I used the template letter that you provided on your previous thread. They are saying that they are not accepting the letter as it does not contain the words voluntary terminate on it. And also because i did not sign the bottom of it as in my name is there but no signature. What should i say back to this as a response?

Thanks

[R0b]

Re: Voluntary termination issues

Hello, the letter you posted above does say that you "exercise the right to voluntary terminate the agreement" so unless you've changed it to the one above I don't see what their argument is? You are not legally obliged to sign the letter it is not a requirement. You have given them sufficient information for you to be identified e.g. Your address, agreement number etc. So they are stalling.

I would say to them that you have in fact said you wish to VT as in the letter and secondly there is no legal requirement to sign the letter - ask them to point out where in the consumer credit Act (s.99-100) does it say a consumer must sign the notification, because it doesn't just merely to notify the person you are paying.

Was this sent by letter or email?

[Stables89]

Re: Voluntary termination issues

Hi. I used the letter template that you wrote in another thread which kati has refered me too at the top of the thread and posted it to them then they said that they didnt receive it so i then emailed them a copy of it with my proof of delivery etc

[Kati]

Re: Voluntary termination issues

Hi. I used the letter template that you wrote in another thread which kati has refered me too at the top of the thread and posted it to them then they said that they didnt receive it so i then emailed them a copy of it with my proof of delivery etc

This one?? http://www.legalbeagles.info/forums/...577#post624577

5. Voluntary termination letter to lender

Dear Sirs,

Agreement number:
Registration:

TERMINATION OF AGREEMENT PURSUANT TO S.99
OF THE CONSUMER CREDIT ACT 1974

Dear Sir/Madam,

Re: Voluntary Termination

Agreement Number:
Vehicle Registration:

I am writing to notify you that I wish to invoke my statutory right under section 99 of the Consumer Credit Act 1974 as I have now paid one half of the total amount payable.

I hereby give you notice that the agreement is terminated effective immediately from the date of this letter. Please confirm by return acknowledging termination of the agreement and make arrangements for collection of the vehicle.

The condition of the car is noted as being in a reasonable condition for its age. Photographic evidence has also been taken in the event of any future dispute by yourself as to the state of the vehicle.

You will be aware that the Consumer Credit Act prohibits you from levying charges for collection of the vehicle, excess mileage or any other charges that may be applied by you. Such terms are void as they are inconsistent with my rights under the Act where they directly or indirectly impose additional liability.

I would be grateful if you could contact me on [NUMBER] to arrange a suitable time for collection within the next 14 days.

Yours faithfully,

[NAME]

[Stables89]

Re: Voluntary termination issues

Yeah thats the one i used

[R0b]

Re: Voluntary termination issues

I suggest you respond with something as follows:

Dear Sir / Madam,

Further to my telephone call with yourself today, you have informed me that the letter I had sent on [DATE] which was delivered by recorded delivery on [DATE] (a further copy sent by email along with the tracking number) is not valid because I had failed to mention within my letter 'voluntary termination' and also that my signature was missing.

I am afraid that the employee's interpretation of the Consumer Credit Act 1974 in relation to terminating a regulated agreement is somewhat misunderstood. The phrase 'voluntary termination' has no legal meaning nor does it occur in the list of definitions under the Act. It is however, a meaning that is used to describe a consumer's right to terminate an agreement at any time before the final payment made under the agreement. For the avoidance of doubt, I have provided an extract of s.99 of the Act (emphasis added):

At any time before the final payment by the debtor under a regulated hire-purchase or regulated conditional sale agreement falls due, the debtor shall be entitled to terminate the agreement by giving notice to any person entitled or authorised to receive the sums payable under the agreement.

As you can see, there is no reference to 'voluntary termination' but the right to terminate upon giving notice. In addition, section 99 does not require specific requirements of the notice such as certain wording or a signature, it is sufficient to simply give notice. In accordance with the Act, notice was deemed served on [DATE] and despite your arguments to the contrary, the notice is valid. In any event, the letter clearly stipulates that I am exercising my right to terminate the agreement pursuant to section 99 of the Consumer Credit Act.

I would appreciate that arrangements are made for the collection of the vehicle within the next 14 days, otherwise I will therefore cancel the current insurance and notify the DVLA that the registered keeper of the vehicle is Moneyway. I shall not be liable for any further liability from this point forward as a result of Moneyway's unreasonable conduct and refusal to collect the vehicle.

I look forward to hearing from you soon.

Regards,

[Stables89]

Re: Voluntary termination issues

Thanks very much for taking the time to help. Will give that a bash