Terminating an agreemet

[Marse]

Hi

 

On purchasing a motor car through a Hire Purchase Agreement, some two years down the line I realised that I was experiencing some financial difficlties. I consulted the Citizens Advice Bureau and the advice I received was ti terminate the agrrement.

 

I contacted the finance company and requested that they accept the return of the car under the Termination of Agreement in the Contract. The finace house informed me that I had not paid sufficient to take advantage of this facility.

 

Just before this issue and because of divorce I had left the matrimonial home and relocated to London so I did not have any documentation to check this point. The finance house instructed me to wither sell the car of have it auctioned, and under their instruction I autioned the car and sent the proceeds to the finance house.

 

Some time later, I had reason to request a SAR from the finance house.

 

In the documentation, it transpired that at the time of my request, I had paid sufficient money to return the car, and the finance house had raised the appropriate documentaion to facilitate the return of goods - the finance house did not send me the letter.

 

Is there anything I can do?

 

I ask this as a short time after, the finance house obtained a Judgement against me .

 

Marse

 

 

 

I

[Marse]

Hi

 

Someone, please.

 

Marse

[diamondgirl]

Hi Marse

 

I'm sorry but I can't help on this one but please be patient someone will along who can help or will know someone who can and will let them know. Some of the caggers don't log in till much later.

 

DG

[Marse]

Hi Diamond Girl

 

I thank you.

 

 

 

Marse

[Marse]

anyone, please

 

 

marse

[Nagasis]

Do you still have a copy of the letter informing them you were terminating and or do you have the letter where the finance company state you have not paid enough so can not use the facility?

[Marse]

Hi Nagasis,

 

I have a copy of the letter from the citizens adivice bueau to the fanance house requesting termination of the contract. I have a copy of the letter that the finance house raised for the termination of contract.

 

Marse

[Nagasis]

and i presume through your SAR you got a copy of the HP agreement which states how much was due for you to terminate?

[Marse]

Hi Nagasis,

 

Yes I do. The CAB after seeing the original HP agreement advised me to take it to the police. They virtual shoute, fraud.

 

But I do not know what to do.

 

 

Marse

[Nagasis]

Ok as far as i can tell with the info provided, you terminated the agreement in accordance with the agreement. Therefore no further monies were due from you except for any arrears.

 

Can you scan and post up the agreement, the letter CAB sent terminating and the letter received stating that you hadn't paid enough. Remove any personal details.

 

Secondly, how much was the amount to terminate on the agreement and how much had you paid at the date of the CAB letter.

 

Also was there any arrears due? (any missing payments before you terminated)

[Marse]

Hi Nagasis,

 

I must have made a mistake in communication After the CAB asked the finance house to terminate the agreemet, the finance house refused to accept my request.

They said that I had not paid enough and instructed me to either sell or auction the car. Whish I did and passed on the proceeds.

 

AS I was living in London and the matrimonial home was in the midlands, I did not have the documentation.

 

It was months later when I received the SAR and found the mistakes.

 

At the time of requesting, The termination figure was £4500. I had paid a deposit of £3450 and I had been paying for som two years without missing a payment. Before any arrears appeared, I had requested the Termination of Agreement, sorry if I mislead you.

 

Marse

[Nagasis]

how much was your monthly payments? and how long was the agreement over ( for example 5 years)

[Marse]

Hi

 

£143 over 48 months

 

Marse

[Nagasis]

143x48= 6864

 

Therefore the 50% termination figure based on the figures above should be 3432 (not 4500).

 

There are some discrepancies in the figures. It would be very helpful if you could scan and post up the agreement using photobucket.

[Marse]

Hi Nagasis

 

The complete Hire Purchase Agreement is a fabrication and I am feeding you information piecemeal.

 

Let me start by saying the HP agreement was signed in 1989, and in 1993 the original finance house obtained the CCJ and I was ordered by the circuit Judge to pay the debt at £10 per month and I made that without missing a month until July 2009 - when I requested the SAR

 

A Long story, Nagasis, are your prepared to hear it all? I think I have a short time to get these people into court.

 

Marse

[Nagasis]

Hi Nagasis

 

The complete Hire Purchase Agreement is a fabrication and I am feeding you information piecemeal.

 

Let me start by saying the HP agreement was signed in 1989, and in 1993 the original finance house obtained the CCJ and I was ordered by the circuit Judge to pay the debt at £10 per month and I made that without missing a month until July 2009 - when I requested the SAR

 

A Long story, Nagasis, are your prepared to hear it all? I think I have a short time to get these people into court.

 

Marse

 

sure go for it

[Marse]

Nagasis

 

I have the Hire Purchase Agreement sitting alongside me now: I am a little concerned about uploaded same. But any thing you want to know - just ask.

 

Marse

[Nagasis]

ok please type up some figures:

 

Total cash price:

deposit:

hire purchase charges:

acceptance fee:

option to purchase fee:

total charge for credit:

total amount payable:

 

 

also their is a section called 'TERMINATION - YOUR RIGHTS'

 

what is the figure in there:

 

 

and can you count from your SAR exactly how many payments you made

Edited February 3, 2010 by Nagasis
spelling

[Marse]

Hi Nagasis,

 

Background: 1980-1983 recovering from a bad accident.

1983-1985 Full time degree course.

1986- 1987 Full time Post Graduate Teaching Certificate

1988 1989 Barperson, Taxi Driver

1989 Teacher.

 

The Hire Purchase Agreement: In 1989 I was absolutely skint with a horrible bank balance - and I could not get credit. I applied to a local car dealer for Hire purchase but turned down. A few days later, I got a telephone call from a salesman.

I went along and he said he could do a deal, He asked me if I could bring a "banger" in for part exchange - I couldn't. He said never mind, I can find one in the yard.

Next day, I turned up we went through some issues and he phoned his head office. I signed a lot of gumph and I got the car

 

The agreement that I received was hand written.

 

On opening the SAR, the Agreement was typed. The allowance that had been allowed was £3495. The car that was in part exchange was a D reg Montego, the car that I was buying was a F reg Nissan.

 

For starters wher did the Montego come from.

 

There is much more to reveal about the HP Agreement. Do you want to hear more?

 

 

Marse

[Marse]

Cash Price = £7938

Allowance = £3495

----------------

Anount of Credt = £4443.00

Charge for creit = £2142.60

---------------------------

Option to Purchase =£10#

Balance Payable = ££6585.60

Total Amount = £10080.60

Termination Figure £5040.30

[Marse]

I have Just looked at the instalment, it was £137.20

 

I paid 28 instalments @ £137..20

[Nagasis]

Cash Price = £7938

Allowance = £3495

----------------

Anount of Credt = £4443.00

Charge for creit = £2142.60

---------------------------

Option to Purchase =£10#

Balance Payable = ££6585.60

Total Amount = £10080.60

Termination Figure £5040.30

 

looks like we are getting somewhere. Can you just confirm the 'allowance' was a deposit you paid?

 

Edit : i will have breakfast and redo the figures to make sure they are right.

Edited February 4, 2010 by Nagasis

[Nagasis]

137.20 x 28 = 3841.60 + 3495 (deposit) = 7336.60 total paid.

 

Therefore you had paid enough to VT. Providing the CAB letter states you are VT'ing you were never liable for any further payments including a CCJ.

 

Because they instructed you to sell the car (and give them the amount received) instead of handing it back is irrelevant.

[Marse]

Hi Nagasis

 

I am so sorry, I missed your reply.

 

On entering into the Hire Purchase Agreement I was totally skint. The salesman asked if I could put my hands on a "banger" for part exchange - I couldn't.

 

He told me not to worry that he could find one around the yard. I never saw the final and completed Hire Purchase agreement until I received the SAR during 2009.

 

The allowance represented a part exchange. In the SAR the car that I supposedly exchanged was a D reg montego and as the car that I was buying was a F reg Nissan this is where the CAB shouted fraud.

 

Wait till I tell you about the remaider of the Hire Purchase Agreement: when the CAB saw this, they could not believe their eyes and suggested that I see a solicitor.

 

Thanks for your time, Nagasis

 

Marse

Edited February 5, 2010 by Marse
Spelling mistake