Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

[Guest]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi again andy58,
Just saw the letter from a few posts back.
Will send it off recorded delivery tomorrow.
Thanks

I would email it also

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

so far so good for me. not heard anything from motonovo since they collected car on monday. is this normal? i was expecting to hear right away with what they were billing me for

[Gavla]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi all,

I'm new here, and have VT'd my car which had a scratch on the front wing. I've had 2 quotes from local businesses who state this should be around £100 to fix, however Alphera are demanding £144 for this.

They won't budge on this figure, which I strongly disagree with as to me it seems 44% more than it should be. They won't tell me where they get this figure of £144 from either.

So any advice on what to do? At the moment i'm refusing to pay it. Is this a good idea? I'll happily pay £100, I just feel they are trying to get a few more £ out of me, which IMO they don't deserve.

Thanks for any help.

[BIG VIV]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi andy58,
I had a reply off BH this morning stating that they have referred the agreement to 1st Phase who will be acting on they're behalf for overdue payments,and I need to deal with them from now on.
The loan was for approx. £20k and I owe about £7500 ,paying £500.01 a month.About 5 months ago I asked for reduced payments for 3 months as things were quiet at work and agreed to pay £250 for 3 months,plus I think they charged me £30 a month for the temporary arrangement.It makes sense now as they wanted approx. £849 in arrears to terminate agreement.I did as was advised and refused to sign and now another payment should have come out of £500.01 at the end of last month and now they are refusing to end agreement and I now owe approx. £1349.
I am really worried now and don't know what to do.Should I go and seek legal advice ???
Please can you advise me on what to do.
Many thanks
BigViv

[Guest]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

HI Do you still have the car ?

Did you ever receive a default or termination notice form the creditor.

Have they ever stated that the agreement was already terminated by them ?

[BIG VIV]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi andy58,
Yes I still have the car and i'll check all my letters off them and get back to you.
I don't recall default/termination notices but will check and get back to you asap.
Many thanks
BigViv

[BIG VIV]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi andy58,
I've checked my letters off BH and the only letters I've received are :-
3no letters for the 3 reduced payments that I agreed with them for 3 months only,and they say-
This is a notice of default sums and is given in compliance with the Consumer Credit Act 1974, and a charge of £25/£30 collection fee activity and the letter is for my information only and I do not need to respond to the letter.
So in effect they agreed to reduce my payments for 3no months and then charged me for it.Charming.
Hope to hear off you soon.
Regards
BigViv

[Guest]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

HI
I think you need more hands on advice on this.

I would contact national debt-line or one of the free agencies. The only legitimate reason they would have for not processing your VT would be if they had already terminated the agreement on default. Before doing so they would have had to issue a default notice and have given you time to pay any arrears.

Also have a word with trading standards, I think that the first port of call is via the local CAB office nowadays.

If you are happy that none of the above is the case, the agreement is terminated and you should tell whoever tries to collect any debt so. I would not be making any more payments, and refuse to make any payment off the arrears until the car had gone back, because you may have to subtract storage charges from any sums due.

[BIG VIV]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi andy58,
Why would they have let me carry on paying them if they had terminated my agreement.
The 3no reduced payments were a number of months ago and since then I have returned to paying them £500.01 a month with no queries??
I think I will contact the CAB tomorrow anyway and see if they can help.
Whilst having discussions with the bank over my VT they only made a fuss about accepting my VT if I accepted to repay the £849 approx.I refused this as I believed that as I had repaid over 50% I didn't need to
Thanks
BigViv

[Guest]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi andy58,
Why would they have let me carry on paying them if they had terminated my agreement.
The 3no reduced payments were a number of months ago and since then I have returned to paying them £500.01 a month with no queries??
I think I will contact the CAB tomorrow anyway and see if they can help.
Whilst having discussions with the bank over my VT they only made a fuss about accepting my VT if I accepted to repay the £849 approx.I refused this as I believed that as I had repaid over 50% I didn't need to
Thanks
BigViv

Your right you do not have to pay anything in order to VT it is your right under the statute.

Refer them to this


http://www.nationaldebtline.co.uk/en..._purchase_debt
WARNINGYou do not need to have actually paid the 50% to be able to terminate your agreement, although some creditors say you do. All that is necessary is for you to give notice to the creditor in writing that you are terminating the agreement

[BIG VIV]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi andy58,
My biggest problem is having to deal with bailiffs etc.,I'm not mentally strong at the moment,i'll just try and deal with it when it happens.
I wouldn't have started the VT if I had kept working,but lost job and needs must I suppose.
Thanks
BigViv

PS do you know of anyone else on the forum who could offer any further help/info??

[Guest]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

PS do you know of anyone else on the forum who could offer any further help/info??

I guess we will see

Good luck

[bigleggyj]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hello everyone. Last week I contacted Santander asking about returning our car after completing our 30th payment in January 2014. Today I received a letter from them enclosing my 'rights and responsibilities' in voluntarily terminating our hire purchase agreement. This prompted me onto the internet to due some 'due diligence' work and I came across this excellent forum. We have never missed a payment (over £500 pcm) or been in arrears. The car was new on buying it and Has only completed 20000 miles and has been serviced in accordance with manufacturers recommendations. It has a tennis ball sized scratch on the drivers door from what we assume to be careless use of a supermarket shopping trolley. I thought that this would be a simple affair but as they say it is better to be forearmed. My questions are (a) has anyone had dealings with Santander (good or bad) and (b) should I get the door scratch repaired before handing it back. Thanks for your patience. J

[djprance]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

right, car collected today. picked up 2 scuffed alloys and a dent in tailgate. also finance agreement had wrong mileage on it when i purchased it, so i was told i'd need to pay £1000 for excess mileage!! told the guy the car had 48k when purchased not 26k. noted it all down and i refused to sign. luckily i had original mot cert that states mileage was 48k. waiting to hear from finance co. as i am refusing to pay for the things they found as they were on car when purchased

Hi I have just had my car collected from manheim for Motonovo after doing a VT with never having missed a payment and being well over the 50%.
They collected it and tried to say it had flaking paint on the front bumper and a small dent over the rear wheel arch which you couldn't even see and wanted £395 to fix it and then the best part asking for £6,800 excess mileage charge. As you can imagine I just told them to take the car and the guy even stated it was going straight to auction and wouldn't have the work done before the auction.
I am now expecting a letter asking for the 7.2k charges but am i best just writing back myself or getting a solicitor involved from the off as they will no doubt want to pursue it?
I won't be paying anything more to them.

[Goaphil]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Oh my god I think I’ve made a big mistake.

I have just returned my car under a VT using the letter on the forst page of this thread.

My contract was with Peugeot finance on a contract that had a mileage agreement of 6,000 per annum!
I have had the car for 34 months and have paid more than half of the finance and so thought I would VT as I have done in the past. Only problem is I have done 79,992 miles in the 34 months and they are claiming mileage costs of 63.441 miles at 0.0425 per mile at a cost of £2,696.26. Only additional cost which I thought was fair was for £62.00 for tone chips on the bonnet and bumper plus 1 wheel trim that was slightly damaged.
This money is being requested by the company that collected the vehicle on behalf of Peugeot called RMS receivables.
The car had a full service history with a Peugeot main dealer and was basically spotless inside and out.

I also noticed in very small writing on the contract it states:- "You have no right to cancel this agreement under the Consumer Credit Act of 1974, the Timeshare Act of 1992 or the Financial Services (Distance marketing) Regulations 2004.

I have VT 2 cars in the past both with mileage agreements that I had exceeded (not by as much as this time) and had only ever had to pay for any minor damage. These were both pre 2007 so was I just lucky or have there been changes to the law.

Sorry this is a bit long and drawn out but just hope that someone can give me some good advice before the bailiffs come knocking.

Thanks