After Three years of paying and no outstanding payments i sent the car back in excellent condition. According to the finance agreement i was lawfully able to do so and incur no further charges. Over the past twelve months i have been threatened with court action, offered several different settlement figures, in order to pay off the payment protection insurance figure, which formed part of the finance agreement. Can someone tell me if i have a liability, or are they just trying to get more money from me. They have placed a marker on my credit file, of which i have responded to in order to assure anyone who views it that i am not a credit risk. I am refusing to pay, and i am now considering taking legal action of my own. Sensible advice will be most welcome.
2007-01-16 06:58:50 · 7 answers · asked by philweld2000 1 in Politics & Government ➔ Law & Ethics
You really must read this article if you haven't already.
2007-01-16 07:11:05 · answer #1 · answered by The Mad cyclist 4 · 0⤊ 0⤋
Was this a lease? Was the term up? If so, was there any outstanding damage or did you run over the mileage limit? There are almost always additional costs at lease termination and you need to pay them. If you terminated early there will be significant costs that will need to be paid.
If this was a purchase contract, you didn't have any right to return it to the finance company. Where you get the idea that you were "lawfully able to do so" I have no clue but I've never seen such a clause in a finance contract. This would have been treated as a repossession. If there was an outstanding balance you'd be responsible for it.
The fact that they're going after you pretty much proves that you don't know what you're talking about. There's no such thing as a finance contract with a 3 day right of return let alone a 3 year one.
Your option is to pay what you owe. Any attempt to sue them will get you laughed out of court, and you'll probably have to pay their legal bills for filing a frivolous action.
2007-01-16 07:29:21 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Voluntry termination of an HP agreement is totally legal as you already know as long as you have paid 50% of the installments. As for the payment protection, I would say as you no longer have the car you dont need payment protection and if anything are due a rebate. You should also think about suing YES for illigally blacklisting you as you were within your rights to end the agreement. The trading Standards will help. They may ask to look at your contract and will advise you of credit consumer act regulations which you will quote in a letter to YES. After this letter if you have no joy the Trading Standards will deal with them on your behalf, but usually the threat of this alone is enough to sort them out. Good luck with the dirtbags.
2007-01-16 08:40:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I suggest you take the original agreement to a solicitor and get him to check the legality of it or maybe write to Honest John the motoring correspondent for the Observer
2007-01-16 07:09:07 · answer #4 · answered by maxie 3 · 0⤊ 0⤋
Get a lawyer. Without seeing the contract no one here can give you good advice.
2007-01-16 07:07:35 · answer #5 · answered by zombiefighter1988 3 · 1⤊ 0⤋
What are you talking about? Did you lease a car or something? Be more clear.
2007-01-16 07:06:28 · answer #6 · answered by Anonymous · 0⤊ 1⤋
they are not a nice company to deal with.
2007-01-16 07:10:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋