Car finance on HP

Just an update for anyone who is interested, the finance company have agreed to terminate the HP contract, I got a mumbo jumbo legal letter from them. I happened to have MABS appointment same day I got the letter so I brought it with me.

The MABS adviser said yes all is well and ends well, also I don't have to pay any of the arrears, once I've paid over half, I can challenge any attempts of the finance company trying to claim arrears. I am legal entitled to do so, the MABS adviser said the finance company and Banks are literally chancing their arm during this recession so don't be afraid of them.

Strange thing is, the finance company confirmed the HP contract is ended but never mentioned when and where to return the car. The car is going to sit in the driveway until I get some form of notification on what to do with it.

Also worth mentioning I have a small outstanding debt from a personal loan, on my copy of the loan agreement the MABS adviser noticed I had signed to take the option of payment protection, I wasn't even aware of it and neither are the lenders. They have been sending me final notices all the time with legal threats. I have given them the good auld 1 finger salute by sending off a copy of the loan agreement.

Thanks for all the advice and a big shout out to MABS people, you are without doubt the best public service during this crisis.

guest123 said:

Strange thing is, the finance company confirmed the HP contract is ended but never mentioned when and where to return the car. The car is going to sit in the driveway until I get some form of notification on what to do with it.

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That's not a very good idea, it's like burying your head in the sand. You need to find out what has to be done with the car.

In relation to purchasing cars, hire purchase should be avoided if at all possible.