VT - Advantage Finance

[Boogyman]

Good afternoon,

Yesterday, I have decided to VT my finance with Advantage. I have used the templates provided from this site with a small amendment to the second letter. As suspected, they are trying to charge me for collection of the vehicle which I have repeatedly stated, I am not liable for these and that I will not be paying them, My questions are:

1. As there is a small amount owing from missing one payment, I presume I am liable to pay this despite having paid more than 50% of the total monies borrowed?
2. I am going to cancel my DD with the bank - Is this correct as I take it I have covered my obligation to pay 50% of the total monies borrowed.
3. When the agent contacts me and makes an appointment DO NOT sign any documentation even if he insists.
4. Can I ask them to sign anything in return - If so, any advice on the wording?
5. They are stating that "Under the CCA 1974, under a Voluntary Termination any arrears or charges are payable" is this correct?

I look forward to some helpful advice in taking on this very daunting journey but, I feel strong and will challenge them all the way to the bitter end.

Thank you.

P.S. rob I hope you can help?

[R0b]

If at the time of you exercising your VT right there was an outstanding amount, I would say that Advantage would be entitled to receive payment for it.

Just like you aren't required to sign any documentation, neither are Advantage. You could ask the agent to sign a form to say they have collected the car but it depends what you are wanting them to sign.

Not sure the context of question 5. Does it relate to the outstanding payment they claim is owed, or it might suggest they refer to excess mileage charges as being in arrears together with the collection charge which is rubbish.