Voluntary termination

[Guest]

Re: Voluntary termination

Thanks Andy, I take it then it doesn't matter what it says on the contract, its up to them to collect the vehicle.

If I don't make the full payment on Friday, say I call up and pay half can they still issue a notice of default.

As long as you are sure that you have sent the request and can show that they have received it, there is nothing(in law
) that they can do. I would email them and remind them that after xx/xx/ xxxx the vehicle will no longer be under the agreement and you will no longer be held responsible for any subsequent damage occurring because of their failure to collect the vehicle, as they are required to do under the consumer credit act.

[irnbrukid207]

Re: Voluntary termination

Hi Andy, just paid the payment last month and going to have a go at returning the van again, is there anything in the
act that says they must collect the vehicle, thanks

[Guest]

Re: Voluntary termination

Hi Andy, just paid the payment last month and going to have a go at returning the van again, is there anything in the
act that says they must collect the vehicle, thanks

No but they must arrange a convenient drop off point if they do not, if they state anywhere that is over say 25 minutes drive away you can say this is unreasonable.

[irnbrukid207]

Re: Voluntary termination

cheers, should I tell them I am going to cancel the insurance and cash in the tax disc to maybe
speed them up to uplift it,

[Guest]

Re: Voluntary termination

cheers, should I tell them I am going to cancel the insurance and cash in the tax disc to maybe
speed them up to uplift it,

I wouldn't. The car must be legal whilst you are in possession of it.

[irnbrukid207]

Re: Voluntary termination

Whats the best way to kick on with this, they wont acknowledge the emails and wont return calls, not
that I would expect anything else, once I state after the 14 days I will start charging for storage, whats
a acceptable figure to charge daily for it.

[Guest]

Re: Voluntary termination

Whats the best way to kick on with this, they wont acknowledge the emails and wont return calls, not
that I would expect anything else, once I state after the 14 days I will start charging for storage, whats
a acceptable figure to charge daily for it.

I would say £20 per day.

You have sent them a recorded letter and state that the payment made will be the lat one under the agreement, quoted that the car is being terminated under section 99 of the act ?

That is all you can do , if they have not contacted you at the end of the period come back on here and we will write them a note.

[irnbrukid207]

Re: Voluntary termination

Got a reply to Email Andy, just says can vt the vehicle no problem if I pay the shortfall balance immediately if not I can't and must surrender the vehicle to them and be liable for all the costs after auction, vt is the best and cheapest option for me, thanks

[ncf355]

Re: Voluntary termination

Hi all,

thought I'd add this LACORS piece on the lagility around S99/100

[Guest]

Re: Voluntary termination

Got a reply to Email Andy, just says can vt the vehicle no problem if I pay the shortfall balance immediately if not I can't and must surrender the vehicle to them and be liable for all the costs after auction, vt is the best and cheapest option for me, thanks

Just respond saying that the agreement will be terminated on xx/xx/xxxx as per section 99. After this time you will no longer be responsible for the care of the vehicle.

You can ask why they would think that you had to pay any sums in order to exercise your statutory right, threaten them with trading standards.

[Guest]

Re: Voluntary termination

Hi all,

thought I'd add this LACORS piece on the lagility around S99/100

I had forgotten about this, a good find may be of use to the previous poster, perhaps a copy of the link to the creditor, since they seem unwilling or unable to accept the legal position

"Section 99 of the Consumer Credit Act gives the debtor the right to terminate a hire purchase agreement, simply by giving written notice of termination. The right to terminate applies at any time before the final payment becomes due, unless the creditor has already terminated. Contrary to the line taken by many finance companies, the debtor need not have paid half the total amount payable, and nor do they have to pay any arrears, before exercising the right to terminate."

[irnbrukid207]

Re: Voluntary termination

Will do that, they also said no payment plan would be accepted

[Guest]

Re: Voluntary termination

Will do that, they also said no payment plan would be accepted

They will have to take you to court then and accept whatever the judge feels you can afford. But they must do this after the vehicle is returned.

[irnbrukid207]

Re: Voluntary termination

They just sent a long email I shall copy and paste it in when I get home, there going on about legislation 100 section 1 of the consumer credit act

[Guest]

Re: Voluntary termination

They just sent a long email I shall copy and paste it in when I get home, there going on about legislation 100 section 1 of the consumer credit act

Should be interesting