HP finance

[onebrian]

i got suckered into an HP agreement without realising it(i know we should all read terms and conditions) but i really thought everything coming out of this elderly gents mouth was truthful. anyway i am now unemployed and the finance people wont even give me any grace whilst still adding on charges. any helpful tips in such matters would be gratefully recieved.

[Oneeyedvic]

What did you think you were signing?

What is the HP on?

How long have you had the HP

What was the amount of the HP

[onebrian]

thought it was just a loan, and it was for a static caravan for 13,500. ive had it nearly 2 years of a 5 year repayment plan

[Oneeyedvic]

Okay, I assume that you want to keep the caravan?

If so, your best option is to go to your local CAB and speak to someone there and get advice on writing a letter to the finance company.

Essentially, the finance company should help you (and since it is an HP agreement and you would have paid a 1/3 of the total outstanding they will need a court order to repossess the caravan). If you can show that you are being reasonable, then the court will find in your favour.

You need to write them a letter, detailing that you are now unemployed (and give dates since unemployed) and give them a copy of an income / expenditure form (available from CAB (or even a bank)).

Tell them that you can only afford topay them �x per month and that is it.

Send the letter recorded delivery and of course keep a copy.