Unable to voluntary terminate

[acacia]

Hi all,

I was hoping to get some advice if possible please. Due to an expanding family and a requirement to upgrade house along with my fiancée having to stay at home with the kids I can no longer afford the car I have on HPI.

I have requested to voluntarily terminate my contract but this has been rejected due to a late payment in 2016. The company is 1st stop car finance and they tell me because of a "section 80" letter this cannot happen. I've checked my credit report and it shows early arrears but not a default. I'm not disputing that a payment was late as I was going through some hardship at the time. I have spoken to them many time and have emails from 3 different people saying the same thing. They don't appear to be being difficult or making anything hard, in all fairness they seem relatively supportive.

Are they right in what they say? If so is voluntary surrender the only other option I have as they are suggestong or would I be better placed to let them repossess the car?

Sorry if this has been covered before, I've tried searching but can't see anything mentioning this section 80 they refer to.

Thanks in advance for any help that can be offered

[pt2537]

Hi all,

I was hoping to get some advice if possible please. Due to an expanding family and a requirement to upgrade house along with my fiancée having to stay at home with the kids I can no longer afford the car I have on HPI.

I have requested to voluntarily terminate my contract but this has been rejected due to a late payment in 2016. The company is 1st stop car finance and they tell me because of a "section 80" letter this cannot happen. I've checked my credit report and it shows early arrears but not a default. I'm not disputing that a payment was late as I was going through some hardship at the time. I have spoken to them many time and have emails from 3 different people saying the same thing. They don't appear to be being difficult or making anything hard, in all fairness they seem relatively supportive.

Are they right in what they say? If so is voluntary surrender the only other option I have as they are suggestong or would I be better placed to let them repossess the car?

Sorry if this has been covered before, I've tried searching but can't see anything mentioning this section 80 they refer to.

Thanks in advance for any help that can be offered

Section 80? of the Consumer Credit Act? thats the section that requires a debtor to give details of the location of the goods, and its an offence if you fail to do so within 14 days.

Seems to be of little relevance to a VT situation, your rights to VT are set out in the CCA s99 and 100. I can see nothing that stops you VTing the contract