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ReadyLaw
ReadyLaw, Advocate
Category: Law
Satisfied Customers: 853
Experience:  Adjunct Lecturer at University of Technology
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I have a hire purchase agreement and I fell back with the

Customer Question

Hi I have a hire purchase agreement and I fell back with the payments and now they have terminated it and want the car back.is there anything I can do to keep the car ?
Assistant: Where are you? It matters because laws vary by location.
Customer: I am in the uk
Assistant: What steps have you taken so far?
Customer: I have onlt
Assistant: Anything else you want the Lawyer to know before I connect you?
Customer: i have only received the letter today so nothing
Submitted: 10 days ago.
Category: Law
Expert:  ReadyLaw replied 10 days ago.

Good day your question has been forwarded to me to see if I may be able to assist.

Expert:  ReadyLaw replied 10 days ago.

How many payments have you defaulted on? What does the agreement say about the repossessing of cars int he event of non payment?

Customer: replied 10 days ago.
I have defaulted previously a year ago however this default is 2 times
Expert:  ReadyLaw replied 10 days ago.

Does your hire purchase agreement make any specific provisions?

Customer: replied 10 days ago.
I have paid more than half the car off could I speak to the creditor and arrange a payment plan as I would look to keep the vehicle?
Customer: replied 10 days ago.
Sorry I don’t understand provisions?
Customer: replied 10 days ago.
The agreement statues that I return the vehicle to them or they need to go through court
Customer: replied 10 days ago.
Proceeding to obtain the vehicle
Expert:  ReadyLaw replied 10 days ago.

The simple answer is if you default, notwithstanding having made payments towards the car for sometime, the lender may exercise their right to repossess the car where you have defaulted.

 

The reality is however that as this car has been driven by you for sometime the likelihood is that they may not necessarily want to repossess and may take this step if it is they are of the view that you have no intentions to pay.

I would therefore recommend that you get into contact with them and see whether you could arrange to come to some agreement regarding repayment. This is best instead of simply ignoring their demands as any steps taken by them through the courts to repossess the vehicle may ultimately affect your credit.

 

I hope I have clarified things for you. Kindly let me know if I may be of further assistance. Kindly take the time to rate the services received.

All the best

RL

Customer: replied 10 days ago.
Thank you so although they have cancelled the agreement so you think I could arrange a payment plan as I would be more than happy to do this? Without needing to go to court?
Expert:  ReadyLaw replied 10 days ago.

You are welcome.

Yes you could do. You may want to either call them up or go into their offices and speak with them about this.

Customer: replied 10 days ago.
Thank you
Customer: replied 10 days ago.
Sorry I am not understanding as my agreement has been cancelled by themsel
Customer: replied 10 days ago.
themselfes*
Customer: replied 10 days ago.
Are
Creditors even then able to offer a payment plan although there is now no agreement?
Expert:  ReadyLaw replied 10 days ago.

You are welcome.

Yes