PCP contract Help Please APEX getting nasty

[Jezzaa]

I have a PCP contract via BOS signed at the garage.

Having been I financial difficulty over the last 4 months Had no luck talking to the Bank of Scotland I am now beeing chased for the arrears by APEX.

My PCP states I have no termination rights ? ?

But I have heard I should be able to terminate after paying 50% and hand the car back ? Should this be stated in my contact under a termination clause ?

Could anyone advise urgently please as I have to phone APEX in the morning and I would like to know my rights,

 

Many thanks Jezzaa

[Jezzaa]

APEX getting nasty

I have a PCP contract via BOS signed at the garage.

Having been I financial difficulty over the last 4 months Had no luck talking to the Bank of Scotland I am now beeing chased for the arrears by APEX.

My PCP states I have no termination rights ? ?

But I have heard I should be able to terminate after paying 50% and hand the car back ? Should this be stated in my contact under a termination clause ?

Could anyone advise urgently please as I have to phone APEX in the morning and I would like to know my rights,

 

Many thanks Jezzaa

[cashins]

Not up on PCP's but this will bump you up the list.

 

Don't phone APEX as they will tell you any old garbage on the phone to get money.

 

What have you had in writing from them?

 

David

[lilly white]

Please Was Is A Pcp

 

 

Regards Lilly

[twofoot]

Would be a good thing to post up the contract minus personal details. It's difficult to advise without seeing it.

[cashins]

PCP = Personal Contract Purchase

 

This is in fact a Conditional Sale Agreement, regulated under the Consumer Credit Act 1974. As such you will have termination rights subject to the rule of 78, (a calculation that determines what you need to pay to settle the agreement).

 

Only difference I can see is that you are financing part of the car, the company still own part of the car and always will unless you pay the balloon payment.

 

That's as far as I have got.

 

David

[Jezzaa]

Thank you for your responses. Will post up contract later, as my OH has taken it to work with him to ring someone for advice.

They (Apex) left a message on his phone lunch time for him to contact Elm Court urgently He only knows it is Apex because that is their address.

Mind tactic or what ! !

[Jezzaa]

UPDATE Hope this info will help others.

Trading Standards are going to check the contract for me.

Good news as regards (APEX) ie ELM COURT mystery phone messages

They ARE in breach of OFT Debt collection guidance.

Rule 2.2c Unfair business Practices states :

Those contacting debtors not making clear who they are,who they work for, what is their role, what the purpose of the contact is.

Bank of Scotland are in breach of Rule 1.9 Creditor responsibility for third parties which states :

If consumer credit licence holders choose to do business or continue to do

business with third parties engaged in questionable fitness behaviour, then their own fitness will be called into question. Our aim is to ensure that creditors do not ignore the unfair practices of debt collectors, whether in-house or external, acting on their behalf. Letters on the way to both in the morning,

[cashins]

Trading Standards are going to check the contract for me.

 

 

Pretty sure they will confirm that the agreement can be terminated.

 

I think it will come down to what if any penalties they can impose.

 

david

[Jezzaa]

Hope you're right Cashins

will let u know when I have a response.

Thanks for your support

Jezzaa

[Jezzaa]

Update

Letters sent to both BOS & Apex re Stating Breach of Rules 2.2 &1.9 Unfair Business Practices.

Received reply from Bank 0f Scot. Concerned to learn of allegations regarding Apex conduct. This has been passed to the Director concerned to address appropriately.

Not heard from Apex since.

[cashins]

That should slow them down

 

David