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Voluntary Termination advice

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  • #1

    Voluntary Termination advice

    I am looking to voluntary terminate my hp agreement on my car. There is just over £1000 to bring it up to the half way mark. Would it be best for me to make a payment,bringing the amount up to the half way mark before or after sending in the termination letter.
    I am in a position to do this.
    Tags: None
  • #2
    Re: Voluntary Termination advice

    If you can afford the difference then there is no harm in sending the VT letter now and enclosing the cheque for the difference. Or you can give your notice and then ask them to provide you with the final balance to make up the 50% which you could ask to pay by bank transfer rather than cheque.
    If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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    LEGAL DISCLAIMER
    Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

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    • #3
      Re: Voluntary Termination advice

      Thanks for your fast reply. Would it be acceptable to pay over the phone by card?

      Comment

      • #4
        Re: Voluntary Termination advice

        I'd be more inclined to pay by bank transfer or cheque. Not that I am saying lenders are dishonest but they might just take more money than you think and could have a hard time getting it back unless you take matters to court. Any way to reduce putting yourself at that risk is always a good thing.
        If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
        - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
        LEGAL DISCLAIMER
        Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

        Comment

        • #5
          Re: Voluntary Termination advice

          I have made the payment,bringing the agreement up to the half way amount. I used the template from here,and posted 8 days ago,first class recorded. The letter has been signed for so i know they now have it.
          Its been 8 days since the letter was received,but have heard nothing as yet. Is this normal? I have also cancelled the direct debit.

          Comment

          • #6
            Re: Voluntary Termination advice

            Only two days to go,from the date of the letter,regarding my termination,and still no contact from them. Can anybody please give me some advice on what to do next? Should i ring them?\

            Comment

            • #7
              Re: Voluntary Termination advice

              Phone them up and ask. Did you give them a date when the termination was to come into effect?

              Comment

              • #8
                Re: Voluntary Termination advice

                Hi yes,i used the template letter and dated it from the day after i sent it. It says that i terminate from that date.

                Comment

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