Two years ago I bought a car on H/P. Unfortunately since then my circumstances have changed for the worse. I'm really struggleing to keep up the payments.
The payments were 270 per month for 5 years. Just over a year later things went bad for me so I called the lone company and told them I couldn't afford that anymore. The man I spoke to agreed to drop the payments to 219 per month. I (stupidly) agreed to this. The new payments restarted my lone. So even thought I've been paying for the car for 2 years I still have 4 years left on a 5 year lone.
Things just aren't getting better for me finacially - I could really do with getting rid of this car but I don't want people chasing me for money I don't have. Is there any legal way to just hand the car back??
I know there is a half payment rule. Does the first year of payments I made count towards this?? Could really do with some advice on this.
The payments were 270 per month for 5 years. Just over a year later things went bad for me so I called the lone company and told them I couldn't afford that anymore. The man I spoke to agreed to drop the payments to 219 per month. I (stupidly) agreed to this. The new payments restarted my lone. So even thought I've been paying for the car for 2 years I still have 4 years left on a 5 year lone.
Things just aren't getting better for me finacially - I could really do with getting rid of this car but I don't want people chasing me for money I don't have. Is there any legal way to just hand the car back??
I know there is a half payment rule. Does the first year of payments I made count towards this?? Could really do with some advice on this.