help with voluntary termination

[raydetinu]

yep if there was insurance or warranty in the paymnts, that would not be included in making up the the 50% figure for the car, so you would have to allow for that.

[fighting bull]

Hi hope this helps, it should say in you agreement if you have paid over the 50% and what the figure is, if you could scan the doc on i could help with that, just omit finance comp details and your details etc, they should have arranged a pre inspection of the vehicle at place convenient to yourself, at there cost not yours. If faults were identified at pos then it is now not enforcable after they have already collected the vehicle and they did nothing to rectify the damage when you purchased the vehicle. What are they saying they want 1165 for. With any reasonable finance or reputable finance company it should have been inspected first by there own agent , if there are dents or damage to the vehicle you should have had a report of this when they took the car, did they have you drop it of at a site of there choosing, ie did they say take it to .... site for example and you went along at your expense, if you did then you could argue for your costs back, along with anything you may have done to increase the value of the car prior to VT. When a person VT a finance contract they potentially lose out on the future value of the finance agreement and so take a hit on the agreement, the finance companies dont like this and so try to recoup what ever costs they can, but like i say any reasonable or reputable finance company should not do this. Hope this helps

[jamielouise]

really angry now just had phone call from trading standards who have recieved letter from advantage finance saying the actual amount that they wanted was £719 but throught contact with my partner had managed to bring it down to £499 (they havnt even contacted my partner as its me whos been dealing with it since hes been at work) and they dont have any photos of the damage to rear quarter panels either which i do(trading standards women didnt even know where the quarter panel on the car were) she says it going to be hard to prove to be honest dont think shes interested so next best thing will be cab i think. does anyone else have any ideas???

[jamielouise]

some advice as what to do

 

recieved another phone call aparantly if i pay the whole lot by the end of the week they will take £230 off the bill. How the hell can they do this especialy when in april i had ageeded to continue paying the insurance by direct debit until the end of the term which is next june what im disputing is the so called damaged which they say was £719 know but are willing to except £499, oh and trading standards have more or less said it was my own fault as i never got an inspection report done and if it goes to court then its english law whatever that means???? even though i have full photos of my car the day i dropped it off and there are no dents on the quarter panels this angers me as they never did any work to the car yet they can charge me for it and was told by trading standards that citizens advice cant help me as they can only do what trading standards have done. someone please help with this i dont have this money

[raydetinu]

well option appears to let it go to court and they will have to prove their position; make sure you keep all correspondance and you offers to settle.

[jamielouise]

Recieved another call from them today again wanting me to pay the insurance and now £237 of damages at £100 per month for 8 months then they will settle my account. I told them that i had agreed to continue paying the insurance as normal so why do they keep asking me to pay up early he also keeps refering the insurance as arrears on the account which it cant be as the term of the insurance agreement finishes june 2012 and why do they keep changing the amount ( for this so called condition of the vehicle which stopped them from getting the full value at auction) all the time and then saying we cant except payment of less than £100 per month it feels like there bulling me into agreeing not a nice feeling :(

[raydetinu]

Dont feel intimidated, just play them at their own game, but do it in writing ( can be fun ) pointing out the errors of their ways and what you understand the position is re the insurance and they are not getting any repair money because they did not repair or inform of any damage before they sold it.

If demand again then just write again, until they give up or actually go to court and you will have all these letters to show them.

[Gaston Grimsdyke]

As I understand this you have correctly terminated the hire-purchase agreement (under section 99 Consumer Credit Act) and you are therefore liabe for up to 50% of the finance for the car (section 100 (1) CCA). However, this amount might be increased if any work is required to put the car into a reasonable condition to recompense the creditor (section 100 (4) CCA)The difficulty for the creditor is that they have said that they want the money because of a shortfall in the price they expected at auction. How sad, the Act does not cover that eventuality.

 

Actually the Act does cover that eventuality - what it actually allows for is compensation for the creditor for the debtor not taking reasonable care of the goods. As well as repair bills, that could extend to the difference in values between the car in a reasonable state and that in the state it was returned in. That is clearly what the creditor is seeking here. However, the problem for the creditor is proving that the reason for not getting book value is down to its condition. How can they prove that was the reason and not, for example, that it was simply within the normal range of tolerances for a book value. If I were the OP I would simply deny any liability. They are not going to sue for a few hundred quid on a questionable case.

[jamielouise]

going to write to them this is what i have so far any help would be appreciated

 

With reference to telephone call on the 26th may about your proposal payment plan of £100 per month for 8 months to settle account. I write to inform you that i have no intensions of paying the £100 per or the £499 that you stated on your letter dated the 6th may saying that the trade price you expected at auction wasnt met (£1165) depreciation due to condition fact of the matter is how can you prove the amount you recieved at auction for the car was down to condition, i was never contacted about the repairs before the car was sold nor did you carry out these repairs.

 

Also i refer to telephone call i made to you on the 6th april that i intended to continue paying the insurance by direct debit and have no intensions of paying it upfront so would appreciate that the insurance wasnt included in the dispute

[jamielouise]

Well recieved some good news today from citizens advice today and they more or less have confimed what you all have been saying and that is that they cant make me pay for repairs that wasnt carried out and cant expect me to pay for the difference between the trade price and what they recieved at auction as its not stated in my agreement (pay 50% and hand car back in reasonable condition) which we did, they even looked at the photos and told that the photos were all the prove i needed and just to write a letter stating these facts and to tell them i have no intensions of paying the £499 and in future would like all correspondence in writing. They also told me to contact the smta and to mention this in my letter so here goes

[kwinter81]

What I don't understand is if you have paid well more than 50% of the agreement then how can they ask for more money for repairs anyway? For example, let's just say the 50% cost was £2000 and you had paid as you said about 33 months then that is 9 months worth of payments more than you needed to. So if you had paid around £3000 then they could deduct any costs from the overpayment and you should get back the rest. I did a voluntary termination with Welcome Finance over 2 years ago and I am only now just starting to get it resolved. I found CAB and Trading Standards to be of little help and actually got some great advice from nationaldebtline.co.uk over the phone. They tried to say they had defaulted my account before I handed my car back and therefore was unable to voluntary terminate. My balance was going up every month with added charges and stood at £4551. Even though after the termination I should have owed about £1100. I kept fighting with them and asking for proof of the default as it was not on my credit file and eventually after me threatening court action against them they admitted they could not provide such proof and the voluntary termination should have gone through in the first place. Another thing to remember about voluntary termination is that you don't have to have paid 50% before you can actually hand the car back. Let's say you should have paid at least £2000 but you have only paid £1500 then once the car is handed back then you will be liable for the £500 remaining. Also the sale of the car is not taken into consideration when you voluntary terminate so it is of no relevance to you what it sells for or your problem if it does not sell for much. I hope you have this matter resolved by now but if not you need to explain all of the above and contact the national debt line as they were a fantastic help to me. Good luck.

[sir_gilmour]

Hi

Welcome to The Consumer Action Group.

 

 

I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.

 

Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.

 

 

Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.

 

It can be bit confusing at first.