Motonovo Voluntary Termination Cooling Off

[stonedcold]

Hi,

Just looking for some advice please. I've just called Motonovo to advise them that i would like to VT my current agreement. It's over half way and meets everything needed, however they said over the phone that they must provide me with a 7 day cooling off period as 'it's a new thing that has just come in'. They took over the phone my request but said i must call back in 7 days tie to advise them that i still want to proceed otherwise they won't progress it. My question is just basically if anyone has heard of this as i can't find anything at all relating to this on the internet anywhere. I really need this sorted asap, so if it is just a way for them to try and delay it, what else can i do? I can't find an email address for them either to send through a template letter and they wouldn't give me one as they said it's done verbally over the phone.

Any help would be much appreciated.

Thanks.

[stonedcold]

Re: Motonovo Voluntary Termination Cooling Off

Just to let anyone know in the same situation, I have found the answer. Basically it was just a delaying tactic so i called back and told them, they said 'on this occasion they'd waive it'.....

[Amethyst]

Re: Motonovo Voluntary Termination Cooling Off

Thanks [MENTION=106831]stonedcold[/MENTION] - so they were basically just lying before?

I believe a VT does need to be done in writing ( [MENTION=71570]R0b[/MENTION] ? ) - so I would put it in writing as well as backup.

[R0b]

Re: Motonovo Voluntary Termination Cooling Off

Correct, in order to benefit from the limited liability under section 100(1) it specifically states that "Where a regulated hire-purchase or regulated conditional sale agreement is terminated under section 99 the debtor shall be liable ..." where section 99 requires you to terminate by giving notice in writing. Therefore strictly speaking, you have not lawfully exercised your right to terminate the agreement by phoning them.

[stonedcold]

Re: Motonovo Voluntary Termination Cooling Off

Yeah they were lying, just to delay things and hope you don't call back. I asked for email confirmation that i have VT'd so i will reply with my written document i had ready. Thanks for the heads up.