Thread: Hire purchase

Hi everyone,

This is my first post on this forum, so please excuse me if i sound newbie like.

Help!!!

Hire purchase agreement was taken out for a new car in 2005 from Arnold Clark through Capital Bank PLC and now Bank of Scotland.

Recent: Due to my financial situation i missed 2 payments and thus received threatening letters from bpo collections, (FINAL NOTICE) telling me they will Arrest my bank account, take me to court etc. They also enclosed a Voluntary Surrender Letter and another letter detailing sale of vehicle.

Reaction: I phoned them and did my best to explain the situation and the representatives at bpo straight away marshaled their policies and parroted on with no's and overridden whatever i had to say about myself and situation. They constantly stressed how they're acting on behalf of their clients, and just following orders.

I was appalled by their blatant unwillingness to take into consideration or recognise my current financial situation. They did agree to one thing though, and that was a minimum payment of £555.38, which is impossible for me to afford anyway, but i made a counter offer of £50 which was refused.

The Details: Total Amount Payable: £12,262.52
- Amount Paid: £8206.48
- Outstanding: £4056.04

REPOSSESSION: YOUR RIGHTS
-----------------------------------------------------------------------
If you do not keep up your side of the agreement but you have paid at least one third of the total agreement, that is £4087.51 we may not take back the goods against your wishes unless we get a court order (Scotland bit doesn't apply here). If we do take the goods without your consent or a court order, you have the right to get back any money that you have paid under this agreement.
-----------------------------------------------------------------------

I find it impossible to consent they take the goods back after i have kept up with 2 years of payments and only due to me being unemployed and suffering from financial squeeze i have fallen behind with my payments.

Question!

Should i wait for the court order and the necessary papers to come through and then claim for the monies i paid under this agreement to be refunded back to me. Or???
I'd appreciate your individual feedbacks and support on this.

Thanks

Similar Threads:

• hire purchase hell
• Hire purchase charges what are these?
• hire purchase/hire agreement
• Hire purchase debt - please help!
• Hire Purchase

They have sent you the voluntary surrender papers as an option of giving up the car without them having the cost of getting a court order (costs which they will no doubt add to your account).

They will be unlikely IMO to take the goods back without your consent or a court order, so you wont have grounds to claim all the money back like it says in the agreement. I doubt any company would be that dumb nowadays but don't quote me on it ;-)

If they go for a court order the judge is likely to grant this (remember it is their car after all) unless you can make and keep to a reasonable offer of payment. I would recommend that you attend this hearing and are as co-operative as possible with the judge in explaining your position.

Maybe a bit of a daft question at this late stage but did you have any PPI to cover the payments against loss of employment?

Have you paid half of the agreement, you can just hand it back and thats it! how long was the hp for 2005 to end 2008 must be more than half paid?

Originally Posted by raydetinu

Have you paid half of the agreement, you can just hand it back and thats it! how long was the hp for 2005 to end 2008 must be more than half paid?

He can as long as he pays the arrears. I was under the impression that was not possible as it appears to be the reason behind the post.