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

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,
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

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,
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

[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

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,
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

[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.

[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

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

[BIG VIV]

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

[BIG VIV]

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

Hi andy58,
Yes I printed off the letter from the beginning of this thread.
I just don't know what to do next.
Anyone got any further advice please.
Thanks

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

Gap is the difference between the actual value of the car and the amount due under the agreement on surrender of the vehicle. You have not voluntarily surrendered your vehicle you have voluntarily terminated it under section 99 of the consumer credit act, GAP is not appropriate or payable.

They seem to be under the impression that you have voluntarily surrendered the vehicle as opposed to VT, as long as you have not missed any payments and you have paid one half of the total amount due under the agreement you owe nothing, even if you did you could still terminate the contract.

I take it you have sent the lelter as prescribed on here and recorded the fact ? If so perhaps you should remind them of the fact, Labman wrote an excellent letter a few posts back that you could adapt for the purpose,

[BIG VIV]

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

Hi,Folks,
Just an update to my VT with Blackhorse.
The VT date from my letter to BH was 4th NOV and ended 18th NOv.
Today I received a letter back from them along with the form that I refused to sign.
The form basically says that to exercise my right to terminate I must agree to pay another £845.45.under the terms of agreement and payable immediately or by arrangement.It goes on to say about agreeing for payment for collection which I refused to sign when this letter originally came from BH.
I have spoken to BH just now and they are adamant that I am still liable for car because I refused to sign form(which I just received back).
The lady from BH said I must pay £842.45 as it's my GAP ???
I told BH that I am not paying anything else as they have had over half of the loan paid back and that the car is going off the drive today and i'm leaving it on the road.I also told them I have cancelled the insurance(I haven't really)and will take photos with a witness and leave keys in car for them.I left it like that with them and ended my conversation with no resolution.
I have also sent log book back to DVLA last week.
Any help or advice would be greatly appreciated.
Thanks
Big viv

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

Yes, they will undoubtedly present you with huge bill, hoping that they will have a chance of getting you to pay a proportion of it after offering a generous discount.
If you feel you owe nothing, then that is what you pay. If you have evidence of the cars condition when you bought it there is nothing they can do, the act just says that you have to take reasonable care of the property, not that you must improve it.
Scuffs to bodywork are fair ware and tear. They wanted over 2k on one of mine, I told them to get stuffed, they went away and eventually decided to drop any action as a good will gesture. Par for the course