Termination notice

[W Bradshaw]

missed three payments on my car loan, but manage to repay this, have now received the above saying my credit agreement is terminated
I can make the next due payment on 1 July 2018 but after that due to personal problems i will not be able to make any more payments, can i return the
car i have only made 12 payments on a 36 month agreement with a final balloon.

kind regards william

[Amethyst]

It is unlikely, you could see if you can VT the car and pay up the 50% of the agreement ( includes the balloon payment when working out the figures - they should be detailed on your agreement ) - with balloon payments it's likely you'd have to have paid 30 or so months payments before VT is an option. If the agreement IS terminated then they may look to reposess the car ( depends on the type of agreement ) and claim the full amount of the agreement from you.

R0b will know more but if you could redact and post a copy of your agreement and this letter you received it would assist.

[R0b]

Did you receive a default notice from the finance company saying that if you do not pay by X date then the agreement will be terminated?

[W Bradshaw]

They say in there letter they sent a defult notice but it mush have gone to my old address, I also got a E-mail which I replied to.

[R0b]

So did you notify them of your change of address because if you didn't then fault would lie with you. However, to be sure I would suggest you send a subject access request to them and obtain all documents, notices, correspondence etc. before you consider your options. You can find a template for making a subject access request on the link below.

http://legalbeagles.info/forums/foru...t-of-templates