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Hi
Can someone help me,
My partner and need to give back our car as it has negative equity and we cant get another car because of this. We have requested GMAC to carry out the process, which they have. They sent us out the pack that they want signed. I fell that we are signing a document that allows the finance company to do as they please and send us a bill for anything they want. There is a small scuff mark on a plastic trim but nothing massive.
We sent them a letter that was on one of the Legal Beagle Forums
Dear Sir / Madam,
TERMINATION OF AGREEMENT PURSUANT TO S.99
OF THE CONSUMER CREDIT ACT 1974
Agreement number:
Registration:
I am writing to notify you that I wish to invoke my statutory right under section 99 of the Consumer Credit Act 1974 and hereby give you notice that the agreement is terminated effective immediately from the date of this letter. Please confirm by return acknowledgement of this letter and to make arrangements for collection of the vehicle.
The condition of the car is noted as being in a reasonable condition for its age and photographic evidence has been taken in the event of any future dispute as to the condition of the vehicle.
You will be aware that the Consumer Credit Act limits my liability to half of the total amount payable under the agreement but excludes any sum payable as a penalty, compensation or damages for a breach of the terms of the agreement. Such terms imposed are inconsistent with my rights under the Act and are therefore deemed void and unenforceable.
The vehicle is now available for collection and I would be grateful if you could contact my partner on to arrange a suitable time within the next 14 days.
and all they done was send us the pack back.
Do we have to sign this pack?
I need to get this resolved ASAP so any help will be appreciated
Thanks
Alan
Can someone help me,
My partner and need to give back our car as it has negative equity and we cant get another car because of this. We have requested GMAC to carry out the process, which they have. They sent us out the pack that they want signed. I fell that we are signing a document that allows the finance company to do as they please and send us a bill for anything they want. There is a small scuff mark on a plastic trim but nothing massive.
We sent them a letter that was on one of the Legal Beagle Forums
Dear Sir / Madam,
TERMINATION OF AGREEMENT PURSUANT TO S.99
OF THE CONSUMER CREDIT ACT 1974
Agreement number:
Registration:
I am writing to notify you that I wish to invoke my statutory right under section 99 of the Consumer Credit Act 1974 and hereby give you notice that the agreement is terminated effective immediately from the date of this letter. Please confirm by return acknowledgement of this letter and to make arrangements for collection of the vehicle.
The condition of the car is noted as being in a reasonable condition for its age and photographic evidence has been taken in the event of any future dispute as to the condition of the vehicle.
You will be aware that the Consumer Credit Act limits my liability to half of the total amount payable under the agreement but excludes any sum payable as a penalty, compensation or damages for a breach of the terms of the agreement. Such terms imposed are inconsistent with my rights under the Act and are therefore deemed void and unenforceable.
The vehicle is now available for collection and I would be grateful if you could contact my partner on to arrange a suitable time within the next 14 days.
and all they done was send us the pack back.
Do we have to sign this pack?
I need to get this resolved ASAP so any help will be appreciated
Thanks
Alan
