Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Urgent advice needed!!!
My sister in law purchased a car on HP in May 2006 with my brother as gauarantor. The stearing pump failed on the vehicle about 12 months ago and the car has just been sat on the drive as they could not afford the replacement parts or the labour. She continued her monthly payments as per the agreement. She has now paid over half of the amount owed but is in arrears of two months on her payments.
She is now looking to voluntarily terminate (VT) the agreement under the "halves and thirds" clause.
I have three questions if anyone can help!!!!
1. Does the car have to be in sound mechanical state to VT the agreement? i.e. does she need to have pump fixed.
2. (a) Does it have to have a valid MOT to VT?
(b) If its VT without the above what would be the penalty if any?
3. If she VT's will it have a detremental affect on my brothers credit file as he is the gauarantor on the agreement?
Unfortunately she can not find the CCA as the finance company are complete cowboys. I think she has been charged well over the odds for the finance.
Any help will be greatly received. I thank you in anticipation.
Oh dear, I dont know anything about this. I am sure there must be someone with this knowledge around though.
From what you say, I guess the company wouldnt provide her with a copy of the agreement if she were to ask for it ?. Perhaps a call to Trading Standards for some advice ! It might be important to have the document to see what the terms and conditions are.
Would there have been any guarantee on this steering pump thing? Sorry, not much help am I
1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -HERE
2: Take back control of your finances -Debt Diaries
3: Feel Bullied by Creditors or Debt Collectors?Read Here
When the Liberals and Conservatives were in opposition, they both agreed that banks should pay back high bank charges to customers. Nothing seems to have happened since they came into power as a coalition. PPI Insurance has been sorted. Now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE
1. Does the car have to be in sound mechanical state to VT the agreement? i.e. does she need to have pump fixed.
The statutory wording says that you will not have to pay anymore providing you have taken 'reasonable' care of the goods. In the case of cars this is generally accepted to mean that the car is in fully working condition, cosmetically sound taking into account its age and mileage and in possession of a current MOT.
Originally Posted by smithy73
2. (a) Does it have to have a valid MOT to VT?
See answer above.
Originally Posted by smithy73
(b) If its VT without the above what would be the penalty if any?
The company may still accept the return of the car but may require further monies to make good the lack of an MOT. It would certainly be worth having at least a pre-MOT inspection done if nothing else.
Originally Posted by smithy73
3. If she VT's will it have a detremental affect on my brothers credit file as he is the gauarantor on the agreement?
No.
Originally Posted by smithy73
Unfortunately she can not find the CCA as the finance company are complete cowboys. I think she has been charged well over the odds for the finance.
The finance company, whoever they are, have a duty to provide a copy of the agreement. Write in and ask for it enclosing the statuory fee of £1.
When you have received a copy please post back details of the terms of the agreement. The impression of being charged over the odds is often in the eye of the beholder and may well be average for the type of finance provided.
I think I will CCA request them so we can look at the agreement and also request full terms and conditions. I think a pre MOT report would be a good idea as well.
CB no worries you have given good guidance in other areas.
When the Liberals and Conservatives were in opposition, they both agreed that banks should pay back high bank charges to customers. Nothing seems to have happened since they came into power as a coalition. PPI Insurance has been sorted. Now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE
Urgent advice needed!!!
My sister in law purchased a car on HP in May 2006 with my brother as gauarantor. The stearing pump failed on the vehicle about 12 months ago and the car has just been sat on the drive as they could not afford the replacement parts or the labour. She continued her monthly payments as per the agreement. She has now paid over half of the amount owed but is in arrears of two months on her payments.
She is now looking to voluntarily terminate (VT) the agreement under the "halves and thirds" clause.
Your sister in law wont be able to VT the agreement because she is in arrears. The account will need to be brought up to date.
Originally Posted by smithy73
1. Does the car have to be in sound mechanical state to VT the agreement? i.e. does she need to have pump fixed.
Yes, the car has to be in a sound mechanical state and the vehicle has to be in reasonable condition for its age. This generaly means that it need to have no damage, have a valid MOT and have a full service history.
This of course depends on how old the car is.
The car you are describing above will be classed as a non runner.. Sat for 12 months, no MOT no Tax.
Originally Posted by smithy73
2. (a) Does it have to have a valid MOT to VT?
Yes. Some will accept 3 months, some will only take 12 months.
Originally Posted by smithy73
(b) If its VT without the above what would be the penalty if any?
You will have to accept the liability for the work needed to get the car into the condition above.
Originally Posted by smithy73
3. If she VT's will it have a detremental affect on my brothers credit file as he is the gauarantor on the agreement?
No, it will show as settled with the words VOLUNTARY TERMINATION on it.
Personally unless the car is less than 3 or 4 years old i doubt very much if they will agree to it in the condition you explained above.
maybe not what you wanted to hear, but answers your questions. :-|
Help!!! Advice On Vt Help!!!
Reply With Quote
Re: Help!!! Advice On Vt Help!!!
Originally Posted by smithy73
