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.
Now i have paid about half of the total amount. The car is now worth alot less than i owe, so if i part ex the car, i will have negative equity. So is it a better idea to give the car back to the finance company??
can they black list me for doing this??? give me a poor rating or anything?? i have never missed a payment.
Will they give me finance again? or with another company?
i have the same problem as u i have an06 mg zr but i was miss sold the car to be a better model than it is, i have finance with RFS and they said we would have to pay more than half the car to hand it back and not effect my credit, but ive only had it a year so cant do that. and nothing i can do about arnold clark miss selling me the car
You cannot sell or part exchange the car without permission from the HP company, as it does not belong to you.
You can voluntary terminate the agreement with the HP company. This will need to be done in writing. You will then be liable to bring your payments up to half the amount payable under the agreement, and pay for any damage caused to the car that is not due to normal wear and tear.
thanks for the info. i have payed for half this month, so will be going back ASAP. But are you sure this wont effect my credit rating??? as its very important i can get another car on finance?? I have never missed a payment, so dont want my credit rating turning bad.
you think it would be a good idea to watch some like Experian credit reports, just incase the finance company decide to get abit pee'd off and put you down as ' car repossed' as iv heard 1 or 2 bad stories?
There is never any harm in obtaining your credit reports, and if there are any anomalies you can lodge a Notice of Correction on the report which is a statement to explain any items appearing on your report which you believe to be wrong, or even just to explain circumstances.
Please note I'm not insured in this capacity, so if you need to, do get official legal advice.
Car on HP, can i give it back???
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