Advantage finance want to VT..

[Non Couch Potato]

Voluntary Termination

 

Hi All

 

What happens to the outstanding amount owed on a vehicle? I still owe 80% finance.

How do Advantage obtain what is deamed that I owe them if I return vehicle, and how bad does it get re collection acrivities? 

 

Thank you in advance.

[dx100uk]

Section 99 of the Consumer Credit Act gives the debtor the right to terminate a hire purchase agreement, 
simply by giving written notice of termination. 
.
The right to terminate applies at any time before the final payment becomes due, unless the creditor has already terminated. 
contrary to the line taken by many finance companies, 
.
the debtor need not have paid half the total amount payable, 
and nor do they have to pay any arrears, [read below carefully regarding arrears ].
.
before exercising the right to terminate.
 .
Sections 99 and 100 set out the debtor's liability on voluntary termination. 

The sections are complex, 
but their main effect can be summarised in brief as follows. 
.
If the sum of payments made and arrears before termination exceeds 50% of the total price, 
than the debtor is only liable to pay the arrears. 
.
Otherwise, the debtor is liable to pay half the total price, less any payments already made.
 . 
so the debtor can terminate at any time if he has reached the 50 % mark but would be liable for any payments still to reach the 50 % mark,
 .  
it does not matter if the account is in arrears at the time or request to do a voluntary termination.
.
you need to specifically nail them down that this is a VT and NOT a VS Voluntary surrender].
dont get caught out!!
.
take extensive photos and video of the car inside and out 
and underneath [use a selfie stick] and in the engine compartment 
ALWAYS.
.
if they try and charge a repo fee or collection fee they cannot:
.
The only charges you must pay are the ones contained in the legislation and itemised in section 101, 
the charge mentioned is levied after the agrement is terminated and is void in any case. 
.
All it means is that no one will collect the terminated car(their car), well that is ther problem it is no longer yours , your attachment to the car has been terminated..
.
173 Contracting-out forbidden.
(1)A term contained in a regulated agreement or linked transaction, or in any other agreement relating to an actual or prospective regulated agreement or linked transaction, is void if, and to the extent that, it is inconsistent with a provision for the protection of the debtor or hirer or his relative or any surety contained in this Act or in any regulation made under this Act.
.
This term is covered by the above section of the CCA 1974 in that it breaches this:
.
 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
.
 In other words nothing can stop you voluntarily terminating.
.
although dependant on the way your agreement is written, they can charge excess mileage
.
 this has been accepted at county courticon level, but afaik has not been tested in a higher court
..
.
.

..............example letter..ADAPT TO SUIT.............
.
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/have not paid more than the amount calculated under the formula in Section 100 the amount due is £XXXX/zero.
.
 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...
..

 

[Non Couch Potato]

Hello

 

Advantage have put the vehicle on the repo list and an agent will call to collect this Tues.?

 

I can clear the arrears this week but that falls on deaf ears, 

 

Can I hide the vehicle untill I pay the arrears? 

I will advise Advantage and their agent of my intentions, is this even legal?

or just bad practice on my behalf?

Even though I need to keep the vehicle for work etc.

 

If they take the vehicle, they advised me that it will be sold at auction and then we will agree a manageable payment plan for the balance.

 

Please note..I got into arrears over a medical condition to which they have seen the paperwork from the hospital yet they won't allow me additional time to pay/ increased payments which I suggested.

 

Could I attend court and get this 'set aside' ?

 

 

Thank you.

[dx100uk]

being on a repo list does not mean its been nor at any court stage.

a repo agent is not a bailiff and has zero legal powers to take the vehicle unless you agree from any private land

don't paark on the public highway.

 

can you give use a bit better details upon what has happened since september pleae

 

what letters have gone in/out inc your VT offer and their eply to that

 

[Non Couch Potato]

Hello

 

Advantage have put the vehicle on the repo list and an agent will call to collect this Tues.?

 

I can clear the arrears this week but that falls on deaf 

 

There was no VT as the arrears were paid in full.

 

However medical problems and stays in hospital have gained new arrears to which advantage have advised me of the repo and the agent is due on Tuesday.

 

I have sent them my official  paperwork from the hospital and asked for more assistance as losing the vehicle would implode even further on my state but they just replied their agent will be calling soon, with no offer of any further assistance.

 

I was wondering if it is possible to email advantage today or first thing in the morning to advise of  my intentions as it's not too to surrender the vehicle under the present circumstances as I can clear the arrears.

 

Or is there a template letter I could use or  attend court and explain to a  judge what has happened.?

 

If an agent calls and the vehicle is on private land can he call the police for assistance.

 

Thank you

[dx100uk]

what court case do you need to attend or write a letter for ...you've lost me?

[Non Couch Potato]

Hi DX.

 

There is no courtcase. I was just wondering if I could attend court and ask judge for help based on my arrears based on my illness as Advantage are not interested.

 

Or can I advise them that I have no intention of surrendering the vehicle by by or to their agent.  

 

Do I have this entitlement?  Or do I need to abide by the 'rules'.

Thank you

[dx100uk]

what has this got to do with any court/judge...where have you got the idea it ever has?

 

have you not been reading up upon your issue here in the very same forum yours is in since last September

CAG is self help too…...

 

as I said above:

 

being on a repo list does not mean its been nor is at any court stage nor is it anything to do with a court

it's advantage being their usual abusive and harassing creditor.

 

a repo agent is not a bailiff and has zero legal powers to take the vehicle unless you agree from any private land.

don't park it on the public highway though..sadly there he can sadly uplift it.

 

can you give use a bit better details upon what has happened since September please

what letters have gone in/out since September?

have you had a default notice and a termination notice 

and what dates are on them?

 

you need to get an sar off to advantage

get all the statements and get reclaiming all the unlawful fees advantage have charged you

inc any repo fees.

 

simply tell the repo guy to do one.

get your mobile photo out and FILM HIM if he appears.

tell him the arrears are being addressed go away.

 

 

[Non Couch Potato]

Hi.

 

The agent is on his way to collect the van

 

I have pleaded with Advantage that I can pay today but they will not allow me any more time as they said they have given me enough time to do so.

 

They categorically insist I can't have any more time .

I am not at my property but they are still pending and said if I don't surrender the vehicle they will report it stolen.

 

Can I hang on on for a few hours until I make this payment and stay out of their way or what is the consequences of me doing so. 

[dx100uk]

BS they can't report it stolen.

 

where is the van parked?

 

and please answer...

 

can you give use a bit better details upon what has happened since September please

what letters have gone in/out since September?

have you had a default notice and a termination notice 

and what dates are on them?

[Non Couch Potato]

Hi and thank you for your speedy response which was greatly received as I am not too good as this is going on anyways..

 

.I had a default notice a few weeks ago I don't know the exact time and date as I am at work now and paperwork is at home

 

last week they gave me until today 11 a.m. to pay the arrears

I have advised them that it can't be paid until later today

but they insist that they are coming for the vehicle

 

I spoke to the agent and he said once they come to my property I have to surrender the vehicle but it is actually 22 miles away from my address

 

I have spoken with the managers of advantage and they categorically say pay now there is no more time or we we will take the vehicle which I haven't give them the whereabouts

 

they are now demanding the whereabouts

they said they would report what the vehicle as stolen to the police

 

now I am happy to wing this until the end of the day what was the score for me as I am writing this message is calling me

 

Oh my god I have now got the agent outside my home demanding to know where the vehicle is is

[dx100uk]

let him wave his arms around 

record him on your photo

tell him the arrears well be settled by the end of the day.

 

do not surrender the vehicle.

 

it's just all hot air by advantage.

 

hope you are not conversing on the phone to them?

 

dx

 

[Non Couch Potato]

Hi thank you again for this speedy response I have written them an email outlining my intentions of resolving the matter today and that if they want to report it stolen then I shall surrender myself to the police and explain to them the  situation. As of yet they have not responded I will give a further update once they respond.

Thank you.

[dx100uk]

stop crawling.

 

in most cases they have no such powers to do anything of the sort and you fell for all the twaddle.!!

stop talking on the phone whereby they can say what they want to frighten you

 

when you get 5mins

scan up the agreement and the statements to date please.

use PDF only

read upload carefully

 

 

dx

 

[Non Couch Potato]

Once again thank you for for this much needed advice. I will scan my contract and then upload here.

 

And to be honest I did fall for their twaddleyet I have been on this group for many years now and should know better.

[dx100uk]

you might find this useful as to what can happen to these people when they don't help you properly...

Letter.pdf

[Non Couch Potato]

Wow that letter is awesome and it has instantly made me in a better mood as I have done everything I can giving my health conditions to deal with the finance company.

 

I mentioned previously that I had emailed the company and told them I will not give the whereabouts of the vehicle and that I would pay the arrears by the end of today, however they have now advised me that they have terminated my contract and that they want full payment of the outstanding balance buy close of today otherwise they will take further action.

 

With this in mind shall I still pay the arrears or await their response and defend from there, with the help from here.

 

However if if I clear my arrears this evening then would that not be wasted money based on them terminating my contract thus opening up a whole new can of worms, and to be honest I would love to defend their actions as they have not helped or assisted me during my attempt for help giving my medical condition and circumstances surrounding my  non payments and subsequent arrears.

 

What further action would they take when they terminate my agreement at the closed off today,? and what would happen with the vehicle agreement is terminated would it then be illegal to still use the vehicle?

 

Thank you.

 

 

[dx100uk]

no ofcourse it wouldn't be illegal to use the vehicle.

 

scans please.

 

do you want to keep the vehicle?

 

dx

 

[Non Couch Potato]

Hi. Yes I want to keep the vehicle.

 

Shall I scan the full agreement.

 

Cheers

[dx100uk]

the agreement and the payment schedule

i'e

what dates payments was due

what dates you actually paid 

 

or if you have a recent statement showing that please

 

one multipage PDF only please read upload carefully

[Non Couch Potato]

Hi. Yes I want to keep the vehicle.

I shall get my head around the upload procedure.

 

Thank you

 

Cheers

[Non Couch Potato]

Hi

 

I have just received a letter from Advantage .....

 

Because you have not comply with terms of default notice. And section 87 (1) of CCU 1974. The agreement is now terminated.

 

You are no longer in possession of the vehicle with our consent.

,.............................................................

 

Wow. Should I be using the vehicle? 

 

Shall I reply?

 

I will upload the docs tonight.

 

Thank you

[dx100uk]

payments please as asked post 20

 

dx

 

[Non Couch Potato]

Hi dx. 

 

I now have payment details etc ( but seriously struggling to upload)

along with a letter from Advantage ,

outlining 'we' have been unable to reach a reasonable resolution as regards the outstanding debt,

despite numerous attempts to contact me.

( Load of tosh, I was never of the phone and email to them)

 

They advise me to take legal advise and respond within 30 days, if not then it's court for ROGO to enforce the order.

 

Amongst the paperwork there is an I&e form.

And a request to advise them who I am using for advice? 

 

What is my next step,

apart from uploading the statement of payments which I struggle to do.

 

Can I just screenshot.? 

TIA

 

[dx100uk]

no don't screenshot...

why cant you use a scanner or phone and read upload carefully

its all there upon what to do.

 

but there are no arrears, you've paid them and continued with the correct payments since?

 

dx