Ford Option agreements

[MARKRINGO97]

Does anyone know what happens when you are unable to keep up payments on one of these agreements. Reason i ask is that a friend is a guarantor for a family member who is no longer able to keep up repayments, it's just over a year into the plan. We are aware the car will be repossessed but want to know what kind of penalties might apply. At the moment we are still trying to get a copy of the terms and conditions of the agreement. Any help would be appreciated.

[sequenci]

Hello there,

Are you aware off the top of your head if the agreement is a Hire Purchase or Conditional Sale Agreement, you mention that the vehicle could be repossessed so i'm guessing it would be.

How much of the agreement has been paid?
How long have they had the agreement?
What is the length of the agreement?
Has a default notice been served?

a bit more info and reading here too:

National Debtline England & Wales | Debt Advice | Factsheet 16 How To Deal With Hire Purchase Debt

[MARKRINGO97]

thanks for the info, will check it out

not sure at the moment what type of agreement, but its been going just over a year and is a 3 year deal. A default notice hasn't been served as yet. Hopefully will get a bit more detail once we can get our hands on the terms and conditions.

[sequenci]

stay in touch, PM me when you get the info. i'll do my utmost to help!