| T O P I C R E V I E W |
| Sheryl.hr |
Posted - 24 May 2012 : 12:35:00
I have recently voluntarily ended a hire purchase agreement on a vehicle. They have collected the car and are asking me to produce documentation as evidence that i am no longer in a position to meet the payments. What will now happen to the outstanding balance remaining on the vehicle. |
| 4 L A T E S T R E P L I E S (Newest First) |
| year 2029 |
Posted - 24 May 2012 : 18:05:36
It sounds like you might have to trawl through the small print with regards to the HP agreement that you had.
If legal jargon etc isnt your thing, you could take it along with any other documentation to the CAB for help. |
| Viki.W |
Posted - 24 May 2012 : 15:32:34
I presume that they will send you an income and expenditure to fill in to see if you can afford to repay the debt.
Can you afford to pay them anything per month?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
| Sheryl.hr |
Posted - 24 May 2012 : 13:53:37
Viki
Thanks for coming back to me. Do I legally have to prove that I can no longer keep the repayments? I voluntarily terminated the agreement so understand that I am liable for only 50% of the total agreement. There is no default in place and no arrears. They have acknowledged I have terminated as they have collected the vehicle. If they sell the vehicle will any monies come of the outstanding amount or is that the case only if I didn't voluntarily terminate? I have no other debts.
Your help would be appreciated in answering the above questions as the finance company keep ringing me.
Thanks again.
|
| Viki.W |
Posted - 24 May 2012 : 13:08:04
Hi Sheryl,
Any shortfall will need to be repaid. Do you have any other debts? How much will the shortfall be?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
