Hire Purchase Agreement for Car Almost at the end of agreement

nuttymumof2

In 2012 I took out a hire purchase agreement for a car. Payments have been made regularly every week until April of this year when I was unfortunately made redundant. At this point I had made payments of £7300 over the years where the total payable was £7800 leaving me to pay roughly £500

I received a default notice on the 24th April and continued to pay my weekly payments with a struggle. I managed to make another three payments almost totalling £200

Today I have now received a termination notice stating that I must return the goods immediately and still pay the outstanding balance which is now just around £300

Does anyone know what my rights are here ? I'm absolutely gutted that I have paid so much and am so close to the end of the agreement

Pixie5740

What do the T&C of your HP agreement say? As I haven't read them I assume it says something along the lines of repossessing the car if you fall into arrears.

Have you contacted the HP company to explain your situation? Perhaps they will allow you to retain the car and set up a payment plan since you're so close to the end of the agreement.

nuttymumof2

How do I add a picture to this and I'll screenshot ? X

looking_forward

Along the top of the box that appears when you type a reply are various icons - 4th from right is insert image .

nuttymumof2

Sorry can't work it on the phone right. It says this :

REPOSSESSION : YOUR RIGHTS
If you do not keep your side of the agreement but you have paid at least one third of the total amount payable under this agreement that's is £2969.00 we may not take back the goods against your wishes unless we get a court order. (In Scotland we may need to get a court order at any time). If we do take the goods back without your consent or a court order you have the right to get back any money that you have paid under this agreement.

(I am in Scotland). Have emailed them this afternoon to ask that I be given time to pay the remaining balance over the course of the next four weeks.

Foxy-Stoat_3

Is there a balloon payment at the end?