help Needed with HP COMPANY

[THEVARNSTER]

Fiat auto financial services:

 

Recieved a letter from solicitors taking me to court for remainder of hp agreemment i had.

 

Got astatement previously:In brief-

Total cash price £18,215

Sum advanced £18,215

Acceptance fee £109

Option fee £75

Finance charges £3965.80

 

Total repayable £22,364.80

 

Total paid to date including sale of car: £10,963.48

 

I understand that once half is paid, they can no longer pursue the rest. Is this the total amount payable of the total cash price.

If this is the case could i send them a cheque to take it up to over half now?

[JonCris]

Half being paid means you can return the car without penalty, or paying any more provided its in good condition fair wear & tear accepted. It DOES NOT mean you don't have to pay the balance if you don't return the car

 

Half means half of the total sum payable.

 

If you want to keep the car suggest you contact the solicitors before they issue proceedings & come to some arrangement to pay (you could offer a sum taking you to just over half) & when you have paid half you can reconsider your position

[THEVARNSTER]

They havealready reposessed the car. The sale proceeds are included in the total paid

[JonCris]

Had you paid 1/3 & if so did they seek a court order? If they didn't can you name the company. Knowing who might help to explain a lot

 

Also you have to have paid 1/2 before you can return the car as previously mentioned. You cannot include their sale proceeds

[THEVARNSTER]

hadnt paid 1/3 yet

[blacksheep1979]

fraid you're liable for the money then. Best bet would be to contact them and set up a payment plan and avoid all court nastiness and ccj etc.

[THEVARNSTER]

so im subject to:

balance(total minus payment i made plus sale of car)

[THEVARNSTER]

could i argue that they didnt achieve full market value for the car. They didnt notify me of when/where it was been sold

[buzby]

That won't matter to the Court - providing the sale was handled competently through a reputable trader, a claim of a 'fire sale' by the original hirer would be ignored. There is very little that can be done to prove the sale in itself was negligent. It goes without saying that it wasn't in your best interests, but that isn't accepted as justification. (Unfortunately).

 

Although its too late in your case, the way to do it is arrange for a Dealer you trust to knowingly sell the vehicle or accept it as a trade-in for a much cheaper model. With the balance then calculated on the residual value, this is sent on to HP company with your proposals to settle the remaining outstanding. This can often realise far more than simply dumping the car at auction.

[nathal]

hgfshgfh

[nathal]

what would a good reason be for not achieving full market value:

[JonCris]

How longs a piece of string. Without seeing the car, the values being achieved that day or what the weather was like who can say