Hi all, Im just after some advice…. I am currently in a IVA and when it was accepted allowances were made for my car payment to black horse. To cut a long story short, things have changed rapidly and my income has stayed the same, well it’s actually due to go down and my expenditure is going to rise. This means that I can no longer afford the vehicle that the allowance was made for. Im ok with that, My dad is going to gift me an old car to be able to run, and on completing my income and expenditure form, if I get rid of the current PCP vehicle then I can still afford to live etc and afford my payment to my IVA. I have spoke to my IP and they have said that I can terminate the agreement with BH and the negative debt will be passed on to my IVA as it was taken out before the IVA was accepted. (So I get all that) However…… I have spoke to BH over the last couple of days and they have told me that I must write a letter Voluntary Surrendering the vehicle, drive it to an auction house and they will pass the liabilities to my IVA. BUT. The figure is massive! I purchased a car on a PCP plan for £31,650.98 with zero deposit The total I would have to pay would be £38,207.62 (including balloon) My monthly payments are 47 payments of £455.46 followed by a final payment of £16,801.00 I have currently been in the agreement for 12 months (again circumstances changed quickly due to no fault of my own) So that is £5465.52 I have paid. My current settlement on the Vehicle is £28,846.49 The vehicle is worth currently £24,000ish trade value. They have said I need to Voluntary Surrender the car and my liability is £14093.75 which will be passed on to the IVA. BUT how is this if my settlement is £28,846.49, shouldn’t it be closer to £4846.49? Is this the same as a Voluntary Termination? or is that more expensive/cheaper? Im just a bit stumped how my settlement can be 29k and they get 24k back and still want the remaining settlement including interest when I no longer pay monthly or have the vehicle? I need to get this sorted, as my insurance for the car is due in a week and I do not want to/can afford to insure it. Please advise and thank you in advance Also just to add, as this might change things quite a bit, I received a letter from BH when I did my IVA saying that they intend to terminate my agreement on 27th March 2018 under section 76(1) of the consumer credit act 1974 as I had made a application for a voluntary arrangement.

Hi everyone. I was wondering if I might get a few pointers in regard to a tenancy agreement that we had with a previous landlord. Three months into the agreement the landlord started texting daily asking for the rent. he was quite abusive in these texts, swearing and threatening to call at the property to get the keys unless payment was made immediately. The payment from housing benefits had been adjusted and we were waiting for it to be sorted. He has now actually had the backrent that was due. We were a bit concerned for our safety if I'm honest and told him via text and a recorded delivery letter that we were giving him notice. He texted back that yes unless we paid him by the weekend in full he was coming to get the keys and we could leave. We left the property but have now started receiving texts from him saying we owe the remainder of the agreement. Is this true. After doing some reading surely he would have accepted our "surrender" of the property when he stated he would come and get the keys if we could not pay in full b the following weekend? Many thanks

Hi there, I am hoping to get some advice. I purchased a car using finance from Barclays Partner Finance at the middle of last year. At the start of this year I was expecting a bonus from work and stupidly overspent over the festive period. T he bonus didn't materialise until the end of March and I missed 2 payments as I had to juggle my finances and at the time, the car payments seemed the lower priority. In March I was sent a letter which said I needed to clear the arrears within 14 days or they would issue a default notice. This took me quite nicely up to pay day when I was receiving my bonus. However, rather stupidly, I tried re-arranging some of my debt to reduce charges etc which meant I was 5 days late making the payment. I did try calling them on the number provided which was an automated system which told me I was £570 in arrears (3 months - another one must of been added on early as it wasn't due until April). There was an option to let them know you were intending to pay which I selected and entered the date that I would be making the payment. I then made the payment on this date bringing the account back in order. Yesterday, I returned home to find a letter from a solicitors telling me that they were acting on behalf of Barclays and that they want the full outstanding balance of £11,117 paid or they will recover the car. It states that I have 2 options, pay in full or surrender the car. It states that they will begin court proceedings to repossess the car if I do not contact them by the 17th. I tried phoning Barclays to explain that I thought the account was brought back in line but was told it was showing as closed, and that the department I wanted to speak to was now closed. I also went through the automated system which said my account owed 2 payments (it should only be 1 - this months). I have the money to pay the 1/2 outstanding payments and my finances have returned back to normal. I would rather not give back the car but I do not know if that is any longer an option? I have not been able to speak to the solicitors as they are only open when I am at work. I live in Scotland and have NOT paid over 1/3 of the total HP loan since it was taken out. Any help or advice is most appreciated!!

Hope you can advise! Daughter (21) has car on PCP finance with VW finance, paid for 18 months so still has 30 months left. She is going to Australia to work but we dont know what to do with the car. We're not in a position to take over payments an run the car, ideally we want to give it back. We know we might be liable for outstanding debt. Any advice will be welcome. Thanks. PS Its all in her name, we're just helping sort it out as parents!

Simon Weston has called Jeremy Corbyn's Falklands plan "repugnant surrender" Jeremy Corbyn has been accused by veteran Simon Weston of "repugnant surrender" to Argentina for suggesting it should be given the right to jointly govern the Falklands Mr Corbyn, who opposed the invasion, said that there has to be a move towards "real peace" and that Britain must open a "dialogue" with Argentina over the future of the islands. He said that under the arrangement the Falklands could retain their British nationality while a joint administration is put in place. The comments were severely criticised by Mr Weston, who suffered 46 per cent burns after the RFA Sir Galahad was bombed during the 1982 conflict. Mr Weston said: "It is a repugnant idea. I don't see why it should happen given that the Argentines never had the islands. They have no right to them. "It could cause civil war again by emboldening the Argentinians. It frightens me enormously because he claims to be such a supporter of democratic freedoms while what he is suggesting throwing the Falkland islanders right to democracy out. The Telegraph This man really is showing himself up for the Labour scab that others are warning us about.

Hello. First post, hope this is the right section. Our landlord wants to sell the property and since we don't have a break clause (we moved in 3 months ago for a 2-year lease), we as tenants agreed on breaking the contract under the conditions: 3 months of free rent and moving out in Apr. Now the next step is to sign the deed of surrender and, since I'm new to this kind of paperwork, I'm seeking for an opinion on the clauses in the agreement. DEED OF SURRENDER Agreement 1. The Tenant hereby surrenders to the Landlord the Tenancy Agreement and the property on XXX 2013 and the Landlord hereby accepts such surrender. 2. It is hereby agreed that the Tenant shall not be liable for any payment of rent for the period from XXX 2014 onwards. 3. It is further agreed that the Landlord shall return the deposit paid on the grant of the Tenancy Agreement in the sum of £X,XXX in line with clauses 17 and 19.2 of the agreement 4. The Tenant agrees to cover the checkout inspection in line with clause 14.1 of the Tenancy Agreement. 5. The tenant agrees to cover the cost of professional cleaning at the end of the tenancy in line with clause 4.4 of the Tenancy Agreement. 6. In consideration of the Landlord accepting the surrender of the Tenancy Agreement and the Property, the Tenant hereby releases the Landlord from all future claims, demands, liability and obligations in respect of the obligations in the Tenancy Agreement to be complied with by the Landlord. 7. In consideration of the Tenant surrendering the Tenancy Agreement and the Property the Landlord hereby releases the Tenant from all future claims, demands and obligations in respect of the obligations in the Lease to be complied with by the Tenant. 8. With the Tenant agreeing to surrender the tenancy due to the Landlord wanting to place the property on the market for sale it is agreed the Tenant will provide access with reasonable notice and during working hours 7 days a week between 8am and 8pm to allow the appointed sales agent to conclude a sale of the property. 9. The Tenant is aware and agreeable that the Landlord will not be addressing any cosmetic maintenance works and will only undertake any urgent works that affect the property being habitable for the Tenant ,i.e. heating, electrics and plumbing. ----- Does this look like a reasonable deed of surrender? I'm slightly concerned with - clause 8: seven days of week of flat viewings seems excessive maybe? And does this mean that they're allowed to come in even if we're not home? - clause 3: since we're doing the landlord a huge favour by allowing him to sell it, wouldn't it be reasonable to expect a full refund of the deposit? Well, thanks for any help or opinion on this

Hi everyone! Sorry if this has been asked time and time again. I can't seem to make sense of what I am liable for. I took out a HP agreement with a company called Moneyway through CarCraft in 2012. I needed the car for a new job which would easily enable me to pay for the car. Long story short, i think two payments were made on time and then I slipped into arrears of around 3 months due to the change of employer and lower training wage. I spoke with Moneyway on occasion about getting back on track and they wouldn't agree to the timeframe i was asking for to get back on top with the agreement. So rather than go down the Repossession route, I was advised to voluntarily surrender the vehicle as I believe a default noticed has been issued by this point. My idea was to surrender the vehicle and set up a repayment plan for the debt. Original finance was for £7500 which with the interest over the duration (5 Years) was going to amount to somewhere in the £12k area. The car was collected and sold at auction for around £4k and now I am being chased for the princely sum of £8k+. I am currently paying £145 pcm but would like to enquire as to what I am actually liable for. As I had only made a few months worth of payments I am nowhere near the third or half way mark of the agreement. Am I liable for the whole amount of the agreement minus the cars value at auction? Many thanks for your time. Dave

Hello, I signed up for a 16 years commercial least on August 2011 with rent reviews every 5 years and paid 20000 to landlord as premium and now due to the downturn and competiton in off license I am not doing well as expected and I have asked my landlord the option to surrender the lease he asked me to find a new teanant so that I can be realeased. I am trying to find people but no one wants to come in even i said there is no premium. I explained the circumstances to my landlord and he says its not his concern as I am in lease. I always pay his rent and now a days sometime its getting delayed he calls me every day and says he will send balif and lock up the premises and take me to court. He already hold my 3 months deposit and he is not helping me. rent is due every month 1st and I dont have any monies to pay for it as business is already suffering huge losses from last 12 months I lost about 25,000 as per my accountant. I want to sell it and come out legally but I dont know what to do now, can I take him to court and explain I tried so many meeting and he said its not his problem as I am not doing well and I explained him if I make any money I will pay the rent first to him. I am a sole trader and dont have any assests in my hand also my personal circumstances has gone so bad, I am unable to pay any payments on time I am getting heavy penality charges for missing payments and not paying on time. so please help me what should I do its very urgent isse.

Hi All I signed up as I have a question regarding my attempt to surrender my tenancy after 4 months of signing a renewal. I have personal reasons for wanting to leave which do not effect the problem I have. It is a genuine reason I have been at the property for over two years (this is my third renewal). I would rather keep the reason to myself as I do not want to be identified just incase the letting agent may read these forums. I understand that a surrender is a mutual agreement between landlord and tenant to release me from the tenancy agreement. I fully understand I am liable for the rent etc. There are no break clauses in the contract. Here is my issue. The lady I spoke with today (letting agent) has said that the landlord has paid (or will pay in monthly instalments) her £1200 for the year tenancy for management of the property plus £150 admin fee for finding me as a tenant. Now the thing is, she has said If I want to leave then I need to pay £800 to the letting agent plus £150 admin fee to find new tenants. This is due to me leaving four months into the contract (1200 - 400). There is no mention of this in the contract I signed nor do I recall ever signing any other document to say this would be ok to charge in this event. The agent admits it is not in the contract (rather forcefully) and keeps on going on about how I signed a legally binding document. By document they refer to the assured shorthold tenancy document. Not once have they mentioned any other document (such as a terms and conditions document for them as letting agents) outlining these charges. I should point out here the Landlord has not been contacted let alone stated this figure would be required to accept the surrender, this is the letting agent who is asking for this and they said it is not negotiable it must be paid by someone (me or the landlord). So even if the landlord did agree to pay this, they are then going to charge the landlord for a new 12 month period of £1200 plus another £150 admin fee for new tenants. So of course landlord will not agree to this I imagine. The letting agent also threatened to simply not bother emailing the landlord at all the more I pushed her on the issue, it seems to me they want to pocket the £800. I am quite happy to pay any rent up until someone else comes into the property, and even happy to pay the admin fee but I cannot make sense of the £800. The letting agent argues they are entitled to this money as they did the work of finding me as a tenant but to my eyes it is free money for them. I have tried to get advice from the CAB but I was unable too today. Also tried shelter and they were always busy...... My worry is I do challenge them more on the issue and they refuse to ask the landlord full stop about a surrender. I have landlords address which I am considering writing too after I have some facts. Can anyone help? Is it worthwhile checking any industry bodies if this is standard practice? Thanks PS on reflection even if there was some way to prove this charge was dodgy (which it may not be of course also), then they would just go to the landlord and say "you have to pay this" and he will say no I wont I will not release him. Seems I cannot win here.....