Hi all.
I have a HP agreement and have notified the finance company via the phone that i wanted to voluntary terminate as i wanted to drive a different car and have paid in excess of 50% of the total amount payable.
They sent me a form which i completed before finding this forum - hope i haven't signed my life away.
Form reads "I wish to exercise my statutory right to Voluntary Terminate my agreement with you.I confirm that I have read and understood the contents of this letter, and confirm I understand
I may have an additional liability if I have not taken reasonable care of the goods and the
resale price is adversely affected.
Signed "
My initial question is as i have paid in excess of 50% of the total amount payable can i cancel my current direct debit. I spoke to a lady in the call centre and she told me that the normal process was to keep the direct debit going i advised that i thought my liability was 50% of the original agreement and that i could cancel, response was as i still had access to the car i should keep it going.
Can someone advise what i am able to do without blackening my credit rating.
Paul
I have a HP agreement and have notified the finance company via the phone that i wanted to voluntary terminate as i wanted to drive a different car and have paid in excess of 50% of the total amount payable.
They sent me a form which i completed before finding this forum - hope i haven't signed my life away.
Form reads "I wish to exercise my statutory right to Voluntary Terminate my agreement with you.I confirm that I have read and understood the contents of this letter, and confirm I understand
I may have an additional liability if I have not taken reasonable care of the goods and the
resale price is adversely affected.
Signed "
My initial question is as i have paid in excess of 50% of the total amount payable can i cancel my current direct debit. I spoke to a lady in the call centre and she told me that the normal process was to keep the direct debit going i advised that i thought my liability was 50% of the original agreement and that i could cancel, response was as i still had access to the car i should keep it going.
Can someone advise what i am able to do without blackening my credit rating.
Paul
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