Advice on payment to link

[ibizasun]

Hello all, New to this so ill try my best

1. I returned hp vehicle to hp company

 

2.£4000 shortfall passed onto link financial for collection

 

3.I agreed to pay x amount per mounth untill settled

 

4. i live in scotland

 

Can i request a cca from link and if so do i?

 

1. keep paying until i hear from them

2. stop paying

 

thank you

[dx100uk]

request it and keep paying for now.

 

not got gap or ppi or charges you can reclaim have you?

 

i'm suprised the shortfall is so high though

 

dx

[ibizasun]

ok thanks, how long would i wait, before i contact them again wot is the is the lawfull time limit?

 

Why you so suprised at the amount

[dx100uk]

12+2 working days

typically a vt would not have such a large outstanding after auction?

 

pers i'd post up the agreement and history

and ping postggj

 

who are these people anyhow?

 

have a read in the vehicle repossesions forum for info

 

dx

[ibizasun]

So if after 2 weeks iv not heard from them. wot is my next step

[dx100uk]

no cca no pay

i'm going to get postggj on board

 

do you have the agreement?

 

dx

[postggj]

interesting one this

4 grand shortfall

 

who is the finance co to start with

 

its ok to name them

[ibizasun]

Ford

 

It was handed back before more than half was paid thats why the amount is higher

[postggj]

had you paid more than a third off the agreement

[sequenci]

Ford

 

It was handed back before more than half was paid thats why the amount is higher

 

Did you terminate the agreement in accordance with the right to voluntarily terminate the agreement? e.g. s99 consumer credit act 1974?

[ibizasun]

At a guess id say yeah would ave to check for certain tho

 

Iwas told the amount was the differnce between what i had paid and the half way stage

[ibizasun]

Yeah in accordancewith 1974 act

[sequenci]

At a guess id say yeah would ave to check for certain tho

 

Iwas told the amount was the differnce between what i had paid and the half way stage

 

aha, got ya. Sounds like you did then

 

You're in safe hands here, we'll see you good!

 

Best wishes,

 

Seq.

[postggj]

please confirm you did a voluntry termination

 

any paper work on this

 

at the time of the vt were you in arrears

[ibizasun]

correct did a vt

 

limited paperwork

 

i was not in arrears at the time

[postggj]

there you go then

 

make links day

 

send them a letter stating you did a vt as of s.99 of the cca 1974 and no sums are owing

 

send recorded delivery

 

you will get crap back for a while but ill end this

 

its important you now check your credit file

 

try the free 30 day online trial

 

if link is on there you are in for a ratyher large payday

[postggj]

Debtor's Termination

Under section 99 of the 1974 Act a debtor under a hire purchase or conditional sale agreement can, at any time before the agreement has ended, give written notice to the creditor to end the agreement. Once the agreement has ended, you have to return to the motor vehicle in a reasonable condition and, if you have paid less than a half of the total amount payable, you must pay the creditor the difference between one half of the agreement and what you have paid. If you have paid more than one half, you only have to return the motor vehicle and pay the arrears at the date of your letter.

[ibizasun]

eh ok are you saying i dont have to pay this im alittle confused

[postggj]

sorry ime getting ahead of myself

 

on the agreement will be a figure inserted , the half way mark

 

if you do a vt of the vehicle, you only have to pay the difference between what you have paid and that figure

 

minus the trade inn value (auction figure)

[ibizasun]

yeah thats what im paying. is it possible i dont ave to pay this tho if i do a cca

[ibizasun]

wot sort of f and f wuold you advise to offer them

[sequenci]

 

minus the trade inn value (auction figure)

 

with a VT under s99 the trade-in value of the car is not relevant.

 

The OP will be liable for their payments up to the 50% point.

[ibizasun]

what amount of f and f would you advise to ofer on this amount

[dx100uk]

have you got a copy of the agreement?

 

dx

[ibizasun]

what sort of f and f offer would you suggest