How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ash Your Own Question

Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I requested to voluntary terminate my credit agreement under

Customer Question

I requested to voluntary terminate my credit agreement under section 99 of the consumer credit act Act 1974 with immediate affect I got the following reply. the agreement entered into by you is a Credit Agreement attached to a Bill of Sale (or Chattel Mortgage) . As such agreement is not covered by section 99 of the consumer credit act 1974. I have re-paid 29 payments on a 48 month agreement. I requested the termination as Each annual payment statement. had the right to terminate under, section 99 of the consumer credit act Act 1974 . printed on each annul payment statement on them. Have they then, the right to refuse termination, of the above mentioned contract
Submitted: 10 months ago.
Category: Law
Expert:  Ben Jones replied 10 months ago.
Hello, what are you hoping to achieve in the circumstances please.
Customer: replied 10 months ago.
Termination of agreement . they have also offered to take back the vehicle, sell it and that I am liable for any short fall
Expert:  Ben Jones replied 10 months ago.
Thank you for your response. I will review all the information and laws and will get back to you as soon as I can. Please do not respond to this message as it will push your question to the back of the queue and you may experience unnecessary delays. Thanks.
Expert:  Ben Jones replied 10 months ago.
I have looked into your query in more detail but unfortunately it is not something I can assist with. I will therefore ‘opt out’ and a colleague better placed to deal with the nature of your query should hopefully pick this up soon. Please do not reply in the meantime as that will just assign the question back to me and you will experience a delay. Thank you
Customer: replied 10 months ago.
I received a Email from customer support, asking me for any further information. I was told that I was being passed on to a colleague. I have not been passed on to anyone. I don't want any complex answer, as it is not a complex question. a straight forward. am I entitled to terminate the agreement under the Act I quoted. Regards ***** *****
Expert:  Ash replied 10 months ago.
Hello my name is ***** ***** I will help you.
What was the agreement for please?
Alex
Customer: replied 10 months ago.
Hi. Being profoundly deaf. I chose this method of communication specifically. Was not my initial question passed on to you from Ben Jones ?. No ?, well here it is again. I requested to voluntary terminate my credit agreement. on a motor vehicle. Under section 99 of the consumer credit act Act 1974 with immediate affect.I got the following reply from the finance company. The agreement entered into by you is a Credit Agreement attached to a Bill of Sale (or Chattel Mortgage). Not a Higher Purchase Agreement. As such agreement is not covered by section 99 of the consumer credit act 1974. I have re-paid 29 payments on a 48 month agreement. I requested the termination as, each annual payment statement. had the right to terminate under, section 99 of the consumer credit act Act 1974 , printed on each annul payment statement on them. Have they then, the right to refuse termination, of the above mentioned contract. The other option the Finance Company offered was. For them to take the vehicle back. Sell it on my behalf, and that I would be liable for any shortfall on the agreement. All I want is a simple yes or no.Am I entitled to end the agreement under, Under section 99 of the consumer credit act Act 1974. Kind regards ***** ***** 04/03/2016
Expert:  Ash replied 10 months ago.
Does a copy of the agreement say its regulated by the consumer credit act? The document you signed.
Alex
Customer: replied 10 months ago.
I only ever received, what they company ( Finance U Limited ) PRE-CONTRACT CREDIT INFORMATION. Which both my wife and myself signed for at the time. No copy of actual Credit Agreement, ever given at this time. Have now noticed in this, pre-credit information. under important legal aspects. Headed, Right to a draft credit agreement. I quote from the document. " You have the right, upon request, to obtain a copy of the draft credit agreement free of charge. this provision dose not apply if we are unwilling, at the time of the request, to proceed to the conclusion of the credit agreement. " They have stated. Fixed Sum Loan Agreement regulated by the Consumer Credit Act 1974. They stated in my Annul Statement ( 01 / 09 / 2015 ) Quote " Termination Your Rights. You Also have the right to end this agreement early in accordance with section 99 of the Consumer Credit Act 1974. You will not be entitled to retain the goods if you do this. Details where set out in your credit agreement. If you wish to terminate the agreement contact us for further information including any amount payable on termination ". Which we did and they replied, by return of post, that we where not allowed to terminate the agreement. They also stated in this letter that we could return the vehicle, for them to sell, and we would be liable for any shortfall. These are the facts. No further contact has been made with Finance U Limited. Geoffrey Baldwin
Expert:  Ash replied 10 months ago.
Have you ever asked for a copy of the agreement under the Consumer Credit Act?
Alex
Customer: replied 10 months ago.
If you read my last reply. They will not provide a copy of the agreement. having refused to allow me to terminate the agreement, under section 99 of the Consumer Credit Act 1974. so they will not provide me with a copy of the agreement. but have they the right to refuse termination of contract. Even after stating on annual statement of payment, that I have the right to do so. Geoffrey Baldwin
Expert:  Ash replied 10 months ago.
You should ask for a copy of the agreement under:
1) Consumer Credit act 1974
2) Data Protection Act 1998
They can NOT by law refuse this. When you have this it will be clear, either it says at the top its regulated by the Consumer Credit Act 1974, in which case you are protected, or it does not.
If they refuse you can either go to the information commissioner (www.ico.org.uk) or seek a Court order for disclosure. But you need that agreement as your case will succeed or fail on that basis. It makes no difference what it says on the statement afterwards, this is post contract. It needs to show what it says AT the point of document on the application.
Can I clarify anything for you about this today please?
Alex

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice