HP Goods handed back, asking full amount

[socleirigh]

Hi,

 

I took out a HP agreement for 36 months in August 2008, and kept payments up to date for 11 months, but then I had to return back the goods and stop paying as I could no longer afford it.

 

I had no communication from the supplier of the goods for over a year, but today I received a statement saying that I owe them the remaining 25 months, which is £2,937.50

 

Can they ask for this full amount. If I were to pay it, they would have all the money under the HP agreement and the goods, and I would have nothing. Surely this cannot be right.

[sailor sam]

Depends on a few things. Normally to return goods without further payment, at least half of the amount financed has to be paid and the goods should be in good condition (fair wear and tear normally excepted). You need to check the T & C's regarding terminatiion of the agreement. What happened when you returned the goods to the supplier in the way of conversation?

 

Please Note

 

 

The advice I offer will be based on the information given by the person needing it. All my advice is based on my experiences and knowledge gained in working in the motor and passenger transport industries in various capacities. Although my advice will always be sincere, it should be used as guidence only.

 

 

I would always urge to seek professional advice for clarification prior to taking any action.

 

 

Please click my reputation 'star' button at the bottom of my profile window on the left if you found my advice useful.

[socleirigh]

Thanks for the advice. When I handed the goods back, they said they were keeping the deposit to cover slight damage to it, and that was all they said - no mention of outstanding balance until now (14 months later)