Notice of Voluntary Termination

Tafy1978

Hi All,

I have recently been declared bankrupt (early March 2015).

Everything has gone as planned but my HP company keep chasing me and threatening bailiffs etc. I called and spoke to the company dealing with the debt (Anglia) and informed them of the situation and they seemed fine.

Since then I have had two separate visits to my property to "discuss my account".

A letter I received on Saturday included a Notice of Voluntary Termination with it. Are there any issues with me signing this and sending it back?

Any advice would be appreciated.

betterdaysahead

Hi,
I would be vary wary of signing any documentation such as this. I'm not sure how it works with HP companies but with properties, when you offer voluntary repossession they try to get you to sign paperwork but included in the small print is a condition that states if you sign then, even if you do go bankrupt, they are entitled to chase you for any shortfall. Hopefully someone with more experience with regards HP can clarify this for you, but read through the small print with a fine tooth-comb. And, if I was in your shoes, I wouldn't sign and return anything. If they continue to harass you despite you informing them of your bankruptcy, inform your OR and let them deal with it.

standalone

Sounds like you need to speak to your local CAB and see what they think.
It is difficult to see why they would be sending you paperwork to sign which is in anyway going to be to your advantage therefore I would not sign or return anything they send you.

Tafy1978

Thank you for your advice both, much appreciated.

The document in question is here -

betterdaysahead

There doesn't seem to be anything too bad in the wording of that. If in doubt though I agree with Standalone - if you do sign, it probably won't harm you but you never know. Whereas, if you don't sign, it definitely can't harm you. As mentioned in my first post, I'd tell them to contact your OR, or ask your OR to contact them. Remember that you no longer have any debt and you no longer have to deal with any creditor.

TheGardener

Just checking - but you did hand the car and its documentation back to the garage as we discussed in February didn't you? If so - and you got a signed receipt at the time - why would they want you to sign this now?
It looks like it might be a form that lets them claim on their business insurance maybe?
Just tell them to refer to the OR if you gave the car back - I wouldn't sign anything without advice.