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Having a big problem with car finance cowboys and was wondering could somebody in the know give me a little advice.

 

Im not gonna name the company as don't know if im allowed but

 

we purchased a car on finance just over a year ago.

We didn't get the car we was looking for but was told we could change it 6mths into the agreement for a different car

and just keep the agreement rolling.

 

We were also told that once we had paid 12mths of the agreement we could hand the car back with no penalties.

We put a £1000 upfront and have paid 12 X £198.

 

When we tried to change the car after 6mths we were fobbed off with a list of excuses

so we settled with having to pay the car for a little longer and just hand it back.

 

After chasing the car company around for the last week or so

they told us today that it wasn't their problem it was the finance place

 

phone them and sort it.

 

We have and we have told them we are no longer willing to make any more payments

and they can come and get the car and we will take up any penalties they try and charge us with the car place.

 

They told us £300 to come and get the car which we haven't got ,

 

ive told them this and they said they are willing just to let the car sit and rot on the drive

and chase us for the rest of the agreement.

 

Are they just playing a waiting game as whats more important to them the recovery cost

or the value of the car which currently stands well over £3000.

 

Should I let the car sit on the drive or do all I can to find the money for recovery.

 

The car at the minute has no tax , petrol etc

so would cost me about same to get it back legal to take it to them 150 miles away.

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yes name names please

 

and what type of agreement do you have?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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It seems reasonable to request a fee for coming to collect the vehicle, and to be honest £300 to move the car 150 miles is reasonable, especially as it has no tax or fuel, and remember that the company will have to use a tow truck of some kind (not cheap) through another company.

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The most important issue here is what type of agreement you have

 

If it is an hp agreement and you wish to voluntarily terminate the agreement

 

You MUST do so under s99cca1974 in writing

 

Let us know the type of ag to be able to assist you

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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If your agreement was hp/cond sale-

And you wish to vt as opposed to vs(not usually advisable)

 

 

 

You must vt under s99/100 cca1974. do not sign any of their forms, or agree to pay anything. The car has just to be in reasonable condition for its age. If you have paid in excess of 50%, with no arrears there will be nothing to pay.Send them the following letter, they MUST action your request, you should endeavour to be present at the vehicle inspection---

 

VOLUNTARY TERMINATION OF AGREEMENT UNDER S99/100 CCA 1974

 

Account No: (xxxxxxx)

Dear Sir,

I am writing to notify you that I am exercising my right to terminate the above Agreement under Section 99 of the consumer credit act1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

 

I understand that I shall be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974. As I have paid more than the amount calculated under the formula in Section 100 the amount due is zero.(provided you have paid 50percent of the ag inc your deposit)

 

The above agreement will be terminated 14 days from the date of this notice.

 

Please send me details of how the vehicle can be returned to you.

 

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.

Please confirm receipt of this request in writing within 7 days of receipt.-Yours etc...

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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Its an hp agreement ,

 

the car place told me I could cancel with nothing to pay after 12mths .

 

We have paid on time for 12mths and

 

now the car company have put us in touch with the finance company

 

who are now sayin they want another 6mths which works out about £1200.

 

Its annoying as we have been totally lied to and in hindsight probably should have got what they were saying signed and in writing but we didn't.

 

We just wanted them to pick up the car and then we could deal with anything that was left to pay at our own pace with what we could afford.

 

But at the minute they wont take the car back unless we pay the pickup fee of £300.

 

I cant believe they would be willing to let a car worth quite a bit rot on the drive

rather than just pick it up and then we can sort it out after that.

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can you scan up the agreement please?

 

**you can post up images/letters by this method immediately..you don't need 10 posts**

.

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc

but leave all monetary figures and dates.

.

************************* ************************* *******

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

************************* ************************* ***********

IPHONE only, take a pic and convert to pdf via an APP

.

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

http://www.convert-jpg-to-pdf.net/

..

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or http://www.freepdfconvert.com/

or

use www.pdfmerge.com

 

convert existing PC files to PDF [office has an installable print to PDF option]

..

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

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

or use word and save as pdf

or use Primo PDF.

.

try and logically name your file so people know what it is.

though DONT USE BANK NAMES or CAG in the title

i'e Default notice DD-mm-yyyy

.

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

...

YOU DONT have to put a link to the attachment in the msg box..just upload it ..job done

you can click on your links to check them too!

.

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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The printed agreement says I needed to pay 18mths (Half the agreement) before I can hand the car back but we signed the agreement after listening to the long explanation of terms and conditions , so we fell for the failure to read the contract through word for word until we encountered a problem.

 

 

Is this what you wanted to check the agreement for or a different reason ?

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'i' don't alone

 

bit other eyes are better.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

The printed agreement says I needed to pay 18mths (Half the agreement) before I can hand the car back but we signed the agreement after listening to the long explanation of terms and conditions , so we fell for the failure to read the contract through word for word until we encountered a problem.

 

 

Is this what you wanted to check the agreement for or a different reason ?

You can vt at anytime, let's check the agreement for the amounts involved

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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The agreement in total was for as follows

 

 

Goods Value : £4987.00

Fees £10

Interest Charges : £2997.80

 

 

 

 

I paid a deposit of £1000 and have paid 12 payments of 194.30 so far which leaves around £4500 left owing

 

 

Ive asked them to collect the car as we are now in financially difficulty so its the sensible thing to do but they are refusing unless I pay them £300 upfront to collect which is basically impossible at the moment so its sat on a drive not being used

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first and most important, forget all about asking them to collect the car on a voluntary surrender basis.

They will auction it off for what they can get, leaving you liable for the full agreement.

 

As things stand you will have to pay (which can be by a reduced payment per month, as per your I&E) £665.80 in order to complete the VT

Use the letter as above, by statute they cannot charge for collecting the car, but can request that you deliver it to an agreed local collection point

 

So in order to VT

 

Total Agreement £7994.80, half £3997.40 you have paid £3331.60 leaving £665.80 to VT (assuming no arrears and car in average condition for year)

 

They must by statute action your request (provided they have not already terminated your account for arrears)

 

So your letter should read-

VOLUNTARY TERMINATION OF AGREEMENT UNDER S99/100 CCA 1974

 

Account No: (xxxxxxx)

Dear Sir,

I am writing to notify you that I am exercising my right to terminate the above Agreement under Section 99 of the consumer creditlink3.gif act1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

 

I understand that I shall be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974, in this case £665.80.

 

The above agreement will be terminated 14 days from the date of this notice.

 

Please send me details of how the vehicle can be returned to you.

 

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.

Please confirm receipt of this request in writing within 7 days of receipt.-Yours etc..

 

It is crucial that you do not surrender on a voluntary basis

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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I sent the company the termination letter by post and by email

 

 

This is the reply I got via email this morning along with a default notice through the post

 

 

Good Morning,

 

Thank you for your email.

 

I have updated your account.

 

Unfortunately we cannot confirm a date of when the car will be collected as this gets passed to a third party recovery company. They will be in contact with you.

 

Kind Regards,

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1) DO NOT SIGN any of their forms

2)Ensure that on collection you are present at the condition report

3) Ensure that you take provable dated photographs of every aspect of the car at the time of collection

 

what is the exact state of the account are there any arrears?

 

it would be very helpful if you could post up a copy of your agreement with all pers details removed

 

you understand that as things stand you will have to come to a payment arrangement to pay the

£665.80 at an affordable monthly amount in line with your I&E?

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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Yes have no problem in paying the arrears at an agreeable rate just to get the place off my back. Ive asked them to clarify what they mean they have updated the account just to make sure there is no confusion about the situation , but they aren't as quick to answer that email for some reason

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did you send your vt letter by recorded delivery?

you must obtain written confirmation that they are actioning your vt

 

they must also confirm that they are collecting f.o.c. as per statute

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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for your reference-

 

99 Right to terminate hire-purchase etc. agreements.

 

(1)At any time before the final payment by the debtor under a regulated hire-purchase or regulated conditional sale agreement falls due, the debtor shall be entitled to terminate the agreement by giving notice to any person entitled or authorised to receive the sums payable under the agreement.

(2)Termination of an agreement under subsection (1) does not affect any liability under the agreement which has accrued before the termination

 

and

100 Liability of debtor on termination of hire-purchase etc. agreement.(1)Where a regulated hire-purchase or regulated conditional sale agreement is terminated under section 99 the debtor shall be liable, unless the agreement provides for a smaller payment, or does not provide for any payment, to pay to the creditor the amount (if any) by which one-half of the total price exceeds the aggregate of the sums paid and the sums due in respect of the total price immediately before the termination.

(2)Where under a hire-purchase or conditional sale agreement the creditor is required to carry out any installation and the agreement specifies, as part of the total price, the amount to be paid in respect of the installation (the “installation charge ”) the reference in subsection (1) to one-half of the total price shall be construed as a reference to the aggregate of the installation charge and one-half of the remainder of the total price.

(3)If in any action the court is satisfied that a sum less than the amount specified in subsection (1) would be equal to the loss sustained by the creditor in consequence of the termination of the agreement by the debtor, the court may make an order for the payment of that sum in lieu of the amount specified in subsection (1).

(4)If the debtor has contravened an obligation to take reasonable care of the goods or land, the amount arrived at under subsection (1) shall be increased by the sum required to recompense the creditor for that contravention, and subsection (2) shall have effect accordingly.

(5)Where the debtor, on the termination of the agreement, wrongfully retains possession of goods to which the agreement relates, then, in any action brought by the creditor to recover possession of the goods from the debtor, the court, unless it is satisfied that having regard to the circumstances it would not be just to do so, shall order the goods to be delivered to the creditor without giving the debtor an option to pay the value of the goods.

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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you must ensure that they acknowledge your vt prior to the expiry of the default notice

 

finance cos hate vts and will try and drag it out if possible

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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Ok I will send another out recorded delivery as I emailed them the vt and sent it normal but will get it out in tomorrow post to make sure as theres only 2 weeks on the default notice and thanks for your time much appreciated

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Quick update :

 

 

Ive had a few phonecalls off the finance company saying they are willing to collect the car

and then sort out a payment plan for the arrears of around £600.

 

 

Ive asked for this in writing with no luck at all just an email saying we have updated you account accordingly.

 

 

This morning I have had a call off a recovery company that want to collect the car.

Without anything in writing to prove the agreement apart from a very vague email

 

 

do I let them take the car or refuse until I have written proof that they have agreed to the voluntary termination ?

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