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Bit of background – Fell into arrears due to ill health with my Lease purchase agreement, termination issued and offer of repayment plan made by myself which was seemingly rejected.
Finance company have told me agents will visit to collect vehicle and won't entertain anything other than immediate full settlement of the loan.
Facts:- 21 months into 36 month agreement 46% (including finance costs) of original loan already repaid before termination. Vehicle worth 3 times more than the remaining loan balance.
Questions can they take the vehicle back without a court order as I have paid more than 30% of the loan?
If they apply for an order can I request time to pay in a reasonable fashion.
Then as general rights can they take the vehicle without my permission from my private property?
Is there anything within the agreement which could undermine my rights concerning the amount of loan repaid.
Thank you in advance for any assistance.
Finance company have told me agents will visit to collect vehicle and won't entertain anything other than immediate full settlement of the loan.
Facts:- 21 months into 36 month agreement 46% (including finance costs) of original loan already repaid before termination. Vehicle worth 3 times more than the remaining loan balance.
Questions can they take the vehicle back without a court order as I have paid more than 30% of the loan?
If they apply for an order can I request time to pay in a reasonable fashion.
Then as general rights can they take the vehicle without my permission from my private property?
Is there anything within the agreement which could undermine my rights concerning the amount of loan repaid.
Thank you in advance for any assistance.
