Unregulated hire purchase agreement

[bogallo]

Hi to all,
I am seeking advice regarding Unregulated hire purchase agreements. I purchased a Taxi in 2005 and, unknown to me, i signed one of these agreements. Now, after paying £26.500.00 of a £34.400.00 and, missing two consecutive monthly payments, i had my Taxi repossessed.
I pointed out to the finance company that since i live in Scotland (and the fact that i had payed over two thirds of the total sum) they required a court order to repossess my vehicle but, they sent the repo men anyway. My assumptions may be wrong......any help or advice greatly appreciated.

Many thanks.

[Caspar]

Re: Unregulated hire purchase agreement

http://www.bdl.org.uk/images/08_scot_hirepurchase.pdf

Have a read of this - looks like they're not allowed to do what they did the way I read it.

[bogallo]

Re: Unregulated hire purchase agreement

The link posted does not mention unregulated agreements, though indeed, could be very helpful to others,

regards.

[Caspar]

Re: Unregulated hire purchase agreement

I've tried to do a bit more research and it is really confusing. Even the National Debtline and Consumer Credit Counselling Service give conflicting advice.

I have discovered a few things, but you cannot take them as 100% accurate unfortunately. From what I've read in an unregulated HP agreement the thirds argument does not apply. In terms of whether or not a court order is needed this is confusing. The general opinion is that if the vehicle is on your own property they need a court order, but anywhere else they don't. However, this is just opinion and I have been unable to find a definitive answer for you after over an hours searching. Sorry!

[bogallo]

Re: Unregulated hire purchase agreement

I thank you for you're efforts and support.

Kind regards.