Jump to content


mattinexeter

creation finance

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2814 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

hi i am trying to voluntary terminate my car finance with creation. i have written to them twice but have had no response!!

 

There is a line in their loan agreement which states that i have no option to cancel the agreement, but, under the CCA 1974 i have the write to cancel..

 

Can anyone shed some light on this please??

Share this post


Link to post
Share on other sites

I am trying to voluntarily terminate the agrement with creation finace on my car.

 

The consumer credit act 1974 states that i can do this (i conform to the requirments)

 

creation finance who are bound by this act have added a line to the agrement stating that i have no right to cancel under the CCA1974 act.

 

I have signed the agreement in the box under the statement which reads 'only sign this agreement if you want to be bound by the CCA1974 act.'

 

Surely creation are contradicting themselves? surely if they are bound by this act they cannot decide to add a clause?

 

and i have signed to say i am bound by the act not by creations key info?

 

also the agreement hasnt been signed by creation.. does this matter?

 

i have written twice to creation with no response from them at all

Share this post


Link to post
Share on other sites

have you paid more than 50%

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

then you can hand it back and owe nothing more

they can't stop you as far as i know.

 

they'll try and sting you for dameg i bet.

 

have a read in this forum

i think im right

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

thanks! i have done a lot of homework on this and think i can hand it back but whats the score with this one liner in the key info???

surely if they are regulated by the CCA1974 then they cant just say 'i have no right to cancel under the CCA1974?'

and i signed the box which states that if i sign then i agree to the CCA1974!!

aaarrghhh!

Share this post


Link to post
Share on other sites

not exactly my game

try hitting the warning triangle and ask for advise on VT issue

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

Hello there.

 

As your hire-purchase agreement is regulated by the Consumer Credit Act 1974 you have the ability to exercise a 'voluntary termination' so long as you have never defaulted on the agreement. It may be that the Creation agreement didn't allow a cancellation under a cooling-off period at the start of the term.

 

Like DX has stated you may be able to exercise a termination - but you must follow a particular process. You will need to cancel in writing, you may have to return the vehicle back to a venue of the finance provider's choice.

 

You can read more about the process within our fact-sheet:

 

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=16_hire_purchase_debt

 

or if you live in Scotland:

 

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=08_hire_purchase_debt

 

A couple of top tips if you are keen to exercise a voluntary termination:

 

1) Take lots of photos on the vehicle to show that it is in good condition

2) If you have a mechanic friend perhaps they could give the vehicle a check to ensure it is mechanically sound prior to returning it

 

For the record, 'reasonable' wear and tear is to be expected if the vehicle is a few years old.


For Free, Confidential and Independent advice: 0808 808 4000

Monday - Friday 9am to 9pm // Saturday 9.30am to 1pm // 24-hour voicemail. Please leave a message to request an information pack. http://www.nationaldebtline.org // http://www.mymoneysteps.org

Share this post


Link to post
Share on other sites

superb thankyou very much!! i have written to them twice in the past month to tell them of the voluntary termination and have had no reply!! i thought it was maybe because of this one line they have added and they believe i cant VT?

so, now i know i can VT how do i get them to acknoledge this? and take the car back?? thanks

Share this post


Link to post
Share on other sites

Hello

I have a car agreement with creation finance(yes i know) and i t hasn't been signed by creation although i have signed it. does this matter?is the greement still enforceable??

i am trying to Voluntery Terminate the agreement but have been told i cant because its a fixed sum loan agreement.. can someone please confirm this? i need to get out of this agreement because i simply cant afford it after loosing my job.

 

please help!

 

Share this post


Link to post
Share on other sites

Hi matt welcome..I assume you have been paying each month,if this is the case the fact that Creation Finance have not signed the agreement but you have, will not leave you in a very good situation should this end up in court.

 

As you are now unemployed and thus your ability to pay has dropped considerably,I would suggest you explain this to Creation and offer a payment that you can Honestly afford,even if its £1 per month

 

FS

Share this post


Link to post
Share on other sites

thankyou FS, do u know if i can VT on a fixed sum loan agreement? if not des that mean the car is mine and not creation?

Share this post


Link to post
Share on other sites

Hello

I have a car agreement with creation finance(yes i know) and i t hasn't been signed by creation although i have signed it. does this matter?is the greement still enforceable??

i am trying to Voluntery Terminate the agreement but have been told i cant because its a fixed sum loan agreement.. can someone please confirm this? i need to get out of this agreement because i simply cant afford it after loosing my job.

 

please help!

 

before you sign any agreement you must READ it fully and carefully. make a copy in case you need to check any details later and they are devious companies out there. If they have not signed it chances are they have sold it on as a promisory note ( and have been paid its face value ).

2) I am not based in uk so you need to check the hire purchase rules in uk... normally if you have paid more than 1/3rd of the loan they can not reposess the vehicle... most people don't realise this and hand the car back ! but please check your local consumer credit laws in regard to HP agreements these are different from Lease agreements..

3) Read the letters very carefully that you recieve..... in many cases dubious claims ,threats are made and many are inacurate. but they all rely on scare tactics to get you cave in and pay up.

hope this helps

 

regards

bb

Share this post


Link to post
Share on other sites
thankyou FS, do u know if i can VT on a fixed sum loan agreement? if not des that mean the car is mine and not creation?

 

is the car mention on the agreement

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

Hi dx,

yes car is mentioned on the agreement under heading of ' other financial info' i just feel that because this company are a load of sharks i really think ive been had somewhere! im gonna tryand up load the agreement for you to see! its only a one page agreement!

it also states that if i decide to discharge my indebtness then the figures payable would be 1/4 of term elapsed £791 if i took out £1000, £518 if half the term elapsed!! so confusing! what would i pay after half the term on £8790???

 

arrrgghhhhh

Share this post


Link to post
Share on other sites

Some instructions for posting up documents..

 

Dx100 – Instructions on uploading pdfs

scan the required letters/agreements/sheets

as a picture file

remove all pers info inc barcodes etc using paint

but leave all figures and dates.

goto one of the many free online pdf converter websites

convert the image to pdf format.

or ir you have PDF as an installed printer drive use that

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

the hit reply button


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

hi could someone confirm on this ASAP please?!! (need to contact the cowboys tomorrow!!)

I have a Fixed sum loan agreement with them for a car i purchased.

the loan is bewtween them and me.

i want to sell the car as i cannot afford to keep and i want to pay off what i can and then arrange payments.

they have issued and interest on the car (it was hpi checked today) thus meaning no one will touch it!

 

As they have no finaincial interest in the car then they cannot put an hpi interest on it can they?

thanks

Share this post


Link to post
Share on other sites

sorry i forgot to add to my earlier thread..

we have missed a payment on the loan and have conatcted creation to tell them we cant afford the repayments and we want to sell the car they were their usual unhelpful selves! but something strange has happened.. a few days later there has been someone nosing around the car, my wife had left the car unlocked on our driveway( which is very tucked away with no throughroad) and the current MOT has disappeaered off the seat!

Could this be creation or asociates checking the car over? i dont know it just seems very strange!

Share this post


Link to post
Share on other sites

Hi i had a car with them which had HP on I wNted to sell be car they took the HP off so I have a personal loan I sold the car and now I just pay the loan

Share this post


Link to post
Share on other sites

hi thankls for replying,

the creation loan we have is not HP its on a fixed sum loan, not sure if rules are the same?

Share this post


Link to post
Share on other sites

hi ,after reading advice on this site i did the following..

They put an HPI marker on my car, i want to sell it, you cant sell it with a marker.

 

I contacted the BELFAST office and said that they cannot do this as they are breaking data protection act, no statute legislation and no legal charge on the vehicle..

I got a reply from a very rude unhelpful man..NO we will not remove this and there is no one that will.

I said thankyou and hung up.

I then conytacted the SOLIHULL office and said exactly the same, he fought it for a bit but then all of a sudden said it will be removed within 72 hrs!!!

It has been removed!!!

unbelieveable!!

It appears they will try it on soi will just hang up if your not getting anywhere then call back and speak to someone else!! SOLIHULL OFFICE is more human than BELFAST(?)

Share this post


Link to post
Share on other sites

Hi

On the 13th Jan this year i SAR'd Creation finance i still haven't received anything from them!! whats the best thing for me to do now? And what will i gain from this?

Thanks

Share this post


Link to post
Share on other sites

Send them the failed SAR letter from the CAG library and report them to the ICO who have the power to force compliance.

 

You can if you wish issue in court to force compliance.

 

ims


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...