link financial

[gerrard14]

i sent link a cca and i got a hire purchase agreement back as shown

key financial information

amount of credit £5299

total amount payable £11018.36payable by 48 monthly payments consisting of

47 payments £210.82a final payment of £409.82APR 43.9%

term 48

 

other financial information

goods car

 

cash price £5999advance payment cash deposit £700TOTAL CHARGEFOR CREDIT

hp charges £5019

acceptance £199option fee £199--

and on last page it says this is a hire purchase agreement regulated by the consumer credit act 1974.sign it only if you want to be legally bound by its terms its signed by myself and witnessed by the company i bought car of

sorry i cant scan it as i dont have a scanner

can anyone help PUT THE PRICES ON AS THEY DONT MATCH IT SHOWS TOTAL PAYABLE AS 11018.36 BUT WHEN YOU ADD UP AMOUNT OF CREDIT AND CHARGES IT COMES TO 10318.36 WHICH IS THE 700 FOR MY CASH DEPOSIT WHICH THEY HAVE ADDED TO TOTAL PAYABLE WHICH IS WRONG THAT SHOULD HAVE COME OF WHICH THEY SHOWED WITH AMOUNT OF CREDIT BUT THEN PUT IT BACK ON CAN ANYONE HELP

Edited August 12, 2008 by gerrard14
NEW INFORMATION

[gerrard14]

forgot to mention that link have bought the debt of ge money and link have only sent me a hire purchase agreement that was set up when i bought the car in 2005 they havent provided a consumer credit agreement

what do i do now

[palomino]

For hire purchase you have a hire purchase agreement, not a credit agreement.

They've sent what is required. Now to find out if it compliant ...

[gerrard14]

what do you mean palomino compliant can you please explain?

[PGH7447]

From your description it sounds valid, do all the sums add up etc, ie the payments against the apr etc,

 

Have you been hit with any charges you can claim back or offset

[gerrard14]

yes it is exactly the same as i got when i got the car so the information looks correct. what i have read on here about hp is that if you have paid at least half you can give the car back but with me being behind on payments they wanted the car back but i told them that they would have to get a court order to get it back as i had paid more than third of the total payable. i offered to volunteer the car back but they said as i was behind i couldnt volunterally terminate the agreement but the letter i got back from them to sign it said voluntarally terminating agreement they took the car back sold it at auction and knocked the price of the remaining balance which they have now sold to link what do i do now if the hp agreement is valid.

yes i think there is charges as i often got behind but always caught up next month who do i claim the charges and how do i go about it

[gerrard14]

forgot to mention that when i got the letter it said that i had to pay £70 for voluntary terminating the agreement which to me says that as i voluntary terminated the agreement and i had paid more than half i shoudnt have to pay anymore PLEASE HELP

[gerrard14]

Anyone Please Help I Dont Know What To Do Next Do I Sar Ge Money I Definately Signed A Voluntary Termination Letter But I Cant Find The Copy Can I Ask Ge Money For A Copy Of The Signed Letter

[gerrard14]

Ive Just Asked Link To Provide A Bill Of Sale From The Car Ge Money Got Back From Me And Who Then Sold It At Auction They Told Me They Had Sold It For £---- But I Never Got Proof From Them Ie Bill Of Sale They Just Told Me Over The Phone Am I Doing The Right Thing As I Have Seen On Some Forums That Some Hp Firms Dont Tell You The Real Price They Sold It For So They Can Get More Money Out Of You

[PGH7447]

You could always S.A.R - (Subject Access Request) GE Money and demand to know what the car fetched

[gerrard14]

ive sent link a letter stating that the hp agreement they sent me doesnt state that i have to pay anything if i send the car back even if i got behind and ive also asked them for bill of sale for car from ge money i will have to wait and see what happens

[gerrard14]

sorry i cant put the agreement on here no scanner but noticed on the document that it says car collection fee on voluntary termination of this agrrement by you(myself)that a £70 charge will be made.as i was behind on payments they said that i coudnt hand the car back voluntary but the letter i got to sign for them to take it back said there was a £70 charge for collection can i pull them up on that.

also the agreement says about charges- see all different clauses but cant find these clauses on the agreement they have sent me.

also you will see on my 1st thread the key information i should have put the apr which is 43.9%and the other information the interest rate is 21% should they both dont know why there is 2 different please help

[gerrard14]

if this hp agreement is valid and i cant get out of paying the debt do i 1st s.a.r ge money to get charges refunded then offer link a monthly sum to get them of my back?