We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Car Finance Breakdown
Comments
-
National_Debtline wrote: »Hi there,
If the finance is under hire purchase you may find that a s77b request is rejected. The reason being is that the finance is not classed as a fixed-sum loan.
If this happens you can make a request for the credit agreement and a full statement of account under s79 instead. This would cost £1, they would have twelve days to provide the information
Hi,
I think you will find that hire purchase is very much included in this requirement.
By its very nature, HP is a fixed sum loan......it has to be in order to state the 'halves & thirds' figures in the Reposession and Termination: Your rights sections.
Only credit agreements that are open ended or variable in nature (such as credit cards) or secured on land are excluded.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards