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.
Hello all,
I bought an alfa 156 from carland in manchester 2 years and 5 months ago..i contacted the finance company in regards to volutary termination...the very stroppy guy on the phone remarked "well you could VT the car if you had a HP agreement..however you dont"
I have a credit agreement...i didnt know the difference when i bought the car and now am stumped ..the car was bought for 6.500 in dec o4 and now it is worth 1.100...my settlement figure is 5,400...whats my next step anyone...GE capital said they wont take the car and i owe then 5,400 end of.
HELLLLLLPPPPPPP PLLLEEAAASSE
Yes, unfortunately with an HP agreement the finance company owns the car and you can voluntary terminate the hire agreement and return the car. With a credit agreement, you own the car from the outset and have to repay the loan that they gave you for the car in full.
You can sell the car and use the proceeds towards your settlement figure, but unfortunately if this does not cover the cost there is little else you can do and you will still need to repay the loan amount.
Please note I'm not insured in this capacity, so if you need to, do get official legal advice.
HP agreement vs credit agreement hellp
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