Voluntary Termination

[pirlgirl]

Re: Voluntary Termination

I wasnt expecting to get anything back, just hoping I wouldnt have to pay them anything else! I was hoping the excess would soak up the sums owed! I dont understand the legal paragraph you have quoted but I am persumming its backing up the 'your not entitled to any money back' part.
I am currently waiting for a manager from BCT to call me back about my queried balance. Am I right in refusing to pay for any charges or letter fees after they recieved the VT (from the recorded delivery date)?

[Guest]

Re: Voluntary Termination

Yes all they are due is the missed payments, they can try and charge default charges also from the period before the termination. Yes it does not seem fair that the extra you pay does not count, but that is the way it works. The phrasing of the section is very convoluted, but i think you will find that the main debt agencies will agree to this interpretation.

You can dispute any pre termination fees that seem unreasonable

Peter

[labman]

Re: Voluntary Termination

Sorry, wasn't on here yesterday, and am unlikely to be for a few days, but I totally agree with Peter. His knowledge of the CCA is probably second to none of the regular posters on here, so I would trust him. :beagle:

[pirlgirl]

Re: Voluntary Termination

I have recieved a new notification of balance outstanding today. This one says
Total amount payable =£10,034.87
Deposit paid =£2416.00
Opening balance £7140.00
Fees incurred £478.87
Payments received = Reciepts £5656.87
Car sale proceeds £682.00
Deposit £2416.00
Balance outstanding=£1,280 made up as follows
£602 arrears
£388 charges
£240 agent fees
£50 damages

[watherton]

Re: Voluntary Termination

hi there,

sorry to jump on the back of this post, but i have a general question relating to an AUDI VT.

Ok, so i reach the 50% mark, i inform the finance company i want to VT - they ring back in a few weeks and arrange to have the car inspected and then collected.

My question is this?

if the car is collected, and the final payment isn't collected prior to this event happening, what happens then.

I have a friend, who has had her car collected, but hasn't been contacted (for over 2 months) regarding the outstanding balance, and she is a little concerned.

[Guest]

Re: Voluntary Termination

Section 100 says that the debtor is only due to pay on termination the sum equal to half the total price less the agregate of amount paid and any amouts due under the agreement.

To me this means that any arears have to be invoced after the termination. In other words payment of the arrears is not needed on termination.

This is bourne out by the above case law that shows a car can be VT'd whilst a Defult notice has been issued(ie arrears exist). But not after the remedy period Because then the drecitor would be responsible for the termination.

Peter.

[watherton]

Re: Voluntary Termination

hi Peter,

so are you saying that even though the car has been collected, over 2 months ago, she can still receive a payment letter for the outstanding balance?

[Guest]

Re: Voluntary Termination

HI

Under section 99 whe is stll liable for any arrears accrued before the termination.

Peter

[watherton]

Re: Voluntary Termination

Ok, thanks Peter.

I know her next question....

How long does she leave it. It has already been 2 months, and no communication whatsoever from AUDI

[labman]

Re: Voluntary Termination

Put it this way, if it were me, I wouldn't be phoning them asking if I owed them any money. Leave it till they contact you.

I'm not aware of there being a prescribed time limit for them to do this, but I would imagine somewhere there should be at least guidance on time limits for issuing final invoices.

[watherton]

Re: Voluntary Termination

hi labman,

this is exactly her train of thought, but from a legal stand point, i think she is trying to gage how long they can leave it before requesting the money.

A big corporation like Audi, leaving it 2 months to collect money....hmmm sounds like someones made a mistake i keep telling her, but it's always good to double check

[Guest]

Re: Voluntary Termination

HI
It may be that there is nothing else due.(unlikey)

If she wants to know the staus of the account she can send a notice under section 103 of the cca;

(a) stating that—
(i) the customer was the debtor or hirer under a regulated agreement
described in the notice, and the trader was the creditor or owner under the
agreement, and
(ii) the customer has discharged his indebtedness to the trader under
the agreement, and
(iii) the agreement has ceased to have any operation; and
(b) requiring the trader to give the customer a notice, signed by or on behalf

of the trader, confirming that those statements are correct,

the trader shall, within the prescribed period after receiving the notice, either comply with it
or serve on the customer a counter-notice stating that, as the case may be, he disputes the
correctness of the notice or asserts that the customer is not indebted to him under the
agreement.
(2) Where the trader disputes the correctness of the notice he shall give particulars of the

way in which he alleges it to be wrong.

The prescribed period is 12 working days

If they do not reply you can take it the agreement is terminatedand no further sums are due also they have commited an offence.

This will put her mind at rest although personally i would be inclined to let sleeping dogs lie.

Peter

.

[watherton]

Re: Voluntary Termination

i agree, about let sleeping dogs lie. She is fretting about it though, as you can understand.

I've just spoken with her, relaying some of your points, and she informed me, that she received a letter stating an outstanding balance of £2658, and was told over the phone, that this should be paid before the car is collected.

I think he worrying is surrounding the fact, that Audi never ever missed taking her monthly payments, but now seem to be very slow in following up this collection.

[labman]

Re: Voluntary Termination

Do you know how they arrived at that figure given no monthly payments were missed?

[watherton]

Re: Voluntary Termination

shortfall, she needed to reach 19500 i believe, and the 2K what to bring it up to this point