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UK-Justice
UK-Justice, Barrister
Category: Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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Hi I am 3/4 the way through an HP agreement for a van which

Customer Question

Hi
I am 3/4 the way through an HP agreement for a van which is now off the road requiring £2000 to repair roughly how much I owe on the van. I have had to hire a replacement as well as still paying for a van i can not use.

Given the vans age and mileage the finance company will say tough! no doubt?

Any way I could either stop paying or gain a contribution towards repairs.

Many Thanks
Andy
Submitted: 4 years ago.
Category: Law
Expert:  UK-Justice replied 4 years ago.
Thanks for your question, I will do whatever I can to help you. Please remember to rate my answer SMILEY FACE OR ABOVE.

What does the agreement say about termination?
Customer: replied 4 years ago.

Hi It says


 


You can terminate this agreement as long as half the total amount as been paid £12390 which I have paid.


 


Out of 60 months I only have 6 payments left.

Customer: replied 4 years ago.

For UK JUSTICE only



If I terminate the agreement even tho i have paid over half as outlined in the agreement do I receive a black mark on my credit file?

Expert:  UK-Justice replied 4 years ago.
So it does not say you have to give x months notice etc?
Customer: replied 4 years ago.

For UK JUSTICE ONLY”



Hi No it just says write to the person you pay to

Expert:  UK-Justice replied 4 years ago.
Thanks.

Then if you have paid half you can write and terminate the agreement.

They can collect the van and your credit file will be marked as the agreement has ended.

It will not show a default but may show 'voluntary repossession'.

I hope this helps.



Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
Customer: replied 4 years ago.

For UK JUSTICE ONLY”


Hi



Ive spoken to my finance company and they say given van is a non runner I cant stop paying and hand it back.



They say they could pursue me for the rest of the payments and the cost of possible repairs if they decide to repair the van.



Is this the case and do I have any other options?



Many Thanks



Andy

Expert:  UK-Justice replied 4 years ago.
Only if the agreement says they can do this - can they.

Nothing in the contract - no power for them to do this!


Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
Expert:  UK-Justice replied 4 years ago.
I'm just following up with you to see how everything is going. Did my answer help?

UK-Justice