Voluntary Termination Liability

[jhoe5152]

Hi

My sisters husband bought a car on finance in his name only and was in the midst of the repayment terms when he suddenly took ill and died. My sister, his wife, called the finance company after his death in January to inform them of his death and for them to take the car back as she could not keep up the repayments. Nothing happened for 6 months and they continued to take the money from his account while the car remained idle on the driveway.

Eventually my sister got her head round the death of her husband and contacted the finance company again to ask why they had not been for the car. They informed her that she would have to pay a settlement fee of over £4000 to voluntarily terminate the agreement. Money she simply has not got.

They are now threatening legal action if she wants to terminate voluntarily and not pay the termination fee although at this moment they are still taking the money from the bank even though they know her husband has died.

Can anyone shed any light on her legal stance before i contact the finance company on her behalf?

Many thanks in advance...

Joe

[wales01man]

Re: Voluntary Termination Liability

Something wrong here wait for the advice that will come

[Guest]

Re: Voluntary Termination Liability

Hi
Your sister would have the same rights to terminate the agreement that her husband would have had.
That is, if one half of the agreement value had been paid and there are no arrears then nothing else is due, she can just hand the car back.

There is a template letter here http://www.legalbeagles.info/forums/...ight=voluntary