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bgqs

Welcome Finance/CCA Query !

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My wife took a car out with WF in 2006 and after two years of repayments decided that she could no longer afford the payments.

 

Despite numerous attempts at trying to hand the car back, WF were reluctant to help...therefore, we dumped the car at the reception of WF's offices !

 

I was quite confident at the time that we had paid 50% of the agreement and as such, were allowed to terminate the agreement voluntarily.

 

WF turned up on the door two weeks ago requesting nearly £3k in payments !

 

After I told them where to go (and to put all further correspondence in writing), it turns out that we paid £400 below 50% of the agreement.

 

I am waiting for the balance of transactions to determine what charges have been applied that could be disputed however, this is a flimsy case....

 

Our main argument to WF is that the amount paid to date plus the resale value of the car (£700) actually exceeds 50% of the agreement and that no balance is due.

 

WF are adamant that 50% has to have been paid prior to voluntary termination and therefore, they now want the full amount (less a goodwill gesture for swift settlement !).

 

Who is right ? Can anyone point me to the section of the CCA which deals with VT....

 

Thanks ;)


Claims:

bgqs v Barclays (Claim No.1) - Claim Issued 16/3/07 Await Defence to be Entered - Data Protection Act Non-Compliance - *WON

 

bgqs v Barclays (Claim No.2) - Prelim Letter Sent (Charges + s.68 Interest) - 16/3/07 - *WON

 

bgqs v Halifax - Prelim Letter Sent (Charges +C.I Interest) - 16/3/07 - *WON

 

*Paid Deposit on New House with my Winnings !

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Anyone ???? !!!!


Claims:

bgqs v Barclays (Claim No.1) - Claim Issued 16/3/07 Await Defence to be Entered - Data Protection Act Non-Compliance - *WON

 

bgqs v Barclays (Claim No.2) - Prelim Letter Sent (Charges + s.68 Interest) - 16/3/07 - *WON

 

bgqs v Halifax - Prelim Letter Sent (Charges +C.I Interest) - 16/3/07 - *WON

 

*Paid Deposit on New House with my Winnings !

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The T&C's of VT should be on your agreement.

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As above noted, the terms are 50% in order to VT...this is not my question....is the residual value of the car allowed to be included within the 50% ?

 

Also, do you have to have paid 50% prior to VT or simply that you will pay 50% and hand the goods back?


Claims:

bgqs v Barclays (Claim No.1) - Claim Issued 16/3/07 Await Defence to be Entered - Data Protection Act Non-Compliance - *WON

 

bgqs v Barclays (Claim No.2) - Prelim Letter Sent (Charges + s.68 Interest) - 16/3/07 - *WON

 

bgqs v Halifax - Prelim Letter Sent (Charges +C.I Interest) - 16/3/07 - *WON

 

*Paid Deposit on New House with my Winnings !

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I believe inorder to satisfy a VT the other company i.e. Welcome would have to have recieved the 50% prior to the VT taking effect.

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was the loan taken with Welcome Car Finance?

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Yes, the HP as wih Welcome Finance.

 

With regard to the 50% of the agreement being paid before VT, this is contrary to this advice:

 

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

 

Namely, this paragraph:

 

"You do not need to have actually paid the 50% to be able to terminate your agreement, although some creditors say you do. All that is necessary is for you to give notice to the creditor in writing that you are terminating the agreement."

 

Is this correct or is it a guideline which is never put to use ???


Claims:

bgqs v Barclays (Claim No.1) - Claim Issued 16/3/07 Await Defence to be Entered - Data Protection Act Non-Compliance - *WON

 

bgqs v Barclays (Claim No.2) - Prelim Letter Sent (Charges + s.68 Interest) - 16/3/07 - *WON

 

bgqs v Halifax - Prelim Letter Sent (Charges +C.I Interest) - 16/3/07 - *WON

 

*Paid Deposit on New House with my Winnings !

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