BCT- Car repossession/ give back

[harold65]

hello,

I hope someone can advice - i have read most posts but cannot find help for the following:

 

I have disputed the balance owed to BCT but to no avial- their very high continous charges have inflated monies owed...anyway they claim that £2000 still owed....I have paid back almost 80%...

 

I now do not wish to pay anymore as the constant hassles with them over tryue balance and now the car needs work on it and it not even worth the balnace- i wish to return it to them but i guess they'll come after me for the balance??

Any advice, letters etc would be great

thanks

[Tingy]

This very reputable site goes through the various agreements. (Link removed by Site Team, but basic info still below).

 

If a normal HP agreement it states the norm is once you've paid 50% you can just hand it back and go, but to check your terms and conditions as they do vary.

Edited December 29, 2010 by Tingy
commercial link removed

[harold65]

Thanks for this....but to be sure of any exact wording required...is there a standard letter with the correct wording which applies to the handing back of a vehicle to BCT even when monies are still claimed to be owed

Thanks again

[Tingy]

Thanks for this....but to be sure of any exact wording required...is there a standard letter with the correct wording which applies to the handing back of a vehicle to BCT even when monies are still claimed to be owed

Thanks again

 

I don't think there's a standard letter, but we can easily put one together for you. Before we do, have you checked your terms and conditions to ensure that the 50% stands in your case?

[harold65]

Thanks- i'll check the terms out

[harold65]

Not much new news...but BCT still do not respond properly to my dispute on the monies they are claiming....I would now much rather they quickly took the car away and told them this but I also said i will not sign anything...they have now said they will not collect it without a signature and that they are going for a 'return of goods order' through the courts and that this will mean more costs.....

 

Can anyone advice what i should do....should I let them go through court or hand back and sign anything they want...either way whatever they are incorrectly claiming i cannot pay back ( i am in rented and on benefit)

[mcjohnson]

If you've a regulated hire purchase agreement then, under the terms of that agreement, after you've paid 50% of the total you can undertake a 'voluntary termination' by simply writing to the original creditor, informing them of your intention, and asking them to collect the vehicle or where you should return it to.

 

However...

 

The terms and conditions for a voluntary termination normally also require that the vehicle is in a 'reasonable' condition, save wear and tear. In your original post you cite that the vehicle needs work done on it. Should the work be beyond reasonable wear and tear then it is likely you would either have to pay for the work, or the creditor will not allow you to exercise your voluntary termination clause.

[Tingy]

And if they do the work they will charge a massively huge price tag for it - been there and suffered that one. Get is as good as possible before they come.

[mcjohnson]

Sorry, what I also eluded to in my post is that you would also be liable for any arrears on the contract, i.e. you can't simply pay 50% of the contract, then not pay anything for a year (but continue to enjoy the goods) and then - when the company starts talking about repossession - go for the VT. The account has to be in good order. It is likely, because your dispute precedes the VT, the OC will demand the outstanding arrears before they agree a VT.

[ninjainthenight]

you dont need a standard letter. just write and ask for a VT and they will send you the info, they will tell you any balance owing which if more than 50% will be on there. failing that you will ow money de to loss of value of the car.. HINT 1: only agree to pay monies after the sale of the vahicle or HINT 2: if you know full well the car needs a lot of work have it done yourself