Tweet
Hello everyone, new to this forum and in need of some advice.....
My wife acquired a brand new static caravan in February this year on a conditional sale agreement.
Anyway, to cut a long story short, my wife is self employed and whilst having the required incomings over the past five years, this year has seen an unexpected change in circumstances on our finances..
So we need to end this agreement immediately as her job will no longer bring in the required amount to cover this.... it is for 12 years and we can't cover the monthly payments, site fees and all that goes with this..
After seeking advice from Step Change Debt Charity, we was advised to try to sell the caravan, we wrote to the finance company to ask permission to do this and they wrote back refusing to let us do this.
So again, after seeking further advice, we was told under the consumer credit act, that we could end the agreement, VT it, and hand the goods back to the finance company....
We sent off the template letter from the CAB to the finance company and from what I have learned on here, that should be honoured, I know we are well below half way or even a third, but was told that doesn't matter...
Today we have received a letter back from them saying :
Unfortunately, we are unable to process your request to cancel the above agreement as product related cancellations are solely at the discretion of the retailer. Should you wish to proceed with your cancellation request, you will need to contact the retailer directly.
?????? Nowhere in the agreement does it state I need the retailers permission to end the agreement ???????
I assume that this is because the asset is currently on the holiday park, but why do I need to go to the retailer and why at there discretion???????
Also, as we have taken advice, our next payment is due next week, we have stopped the direct debit as we have ended the agreement on 22nd August, with proof of posting and ackonowledgment from the finance company, but am now worried if they don't collect that then
are we viewed as defaulting??? I didn't think we was, I thought it stopped immediately, we surrender the goods which we are willing to do...
Any help will be much appreciated....
Thanks
My wife acquired a brand new static caravan in February this year on a conditional sale agreement.
Anyway, to cut a long story short, my wife is self employed and whilst having the required incomings over the past five years, this year has seen an unexpected change in circumstances on our finances..
So we need to end this agreement immediately as her job will no longer bring in the required amount to cover this.... it is for 12 years and we can't cover the monthly payments, site fees and all that goes with this..
After seeking advice from Step Change Debt Charity, we was advised to try to sell the caravan, we wrote to the finance company to ask permission to do this and they wrote back refusing to let us do this.
So again, after seeking further advice, we was told under the consumer credit act, that we could end the agreement, VT it, and hand the goods back to the finance company....
We sent off the template letter from the CAB to the finance company and from what I have learned on here, that should be honoured, I know we are well below half way or even a third, but was told that doesn't matter...
Today we have received a letter back from them saying :
Unfortunately, we are unable to process your request to cancel the above agreement as product related cancellations are solely at the discretion of the retailer. Should you wish to proceed with your cancellation request, you will need to contact the retailer directly.
?????? Nowhere in the agreement does it state I need the retailers permission to end the agreement ???????
I assume that this is because the asset is currently on the holiday park, but why do I need to go to the retailer and why at there discretion???????
Also, as we have taken advice, our next payment is due next week, we have stopped the direct debit as we have ended the agreement on 22nd August, with proof of posting and ackonowledgment from the finance company, but am now worried if they don't collect that then
are we viewed as defaulting??? I didn't think we was, I thought it stopped immediately, we surrender the goods which we are willing to do...
Any help will be much appreciated....
Thanks
Comment