Voluntary Termination

You have recently returned your vehicle to us. This will have an impact on your account and credit file.

1. As you had not met your termination rights under the terms of the agreement and have not paid 50% of the balance you still have outstanding liabilities* and still owe money on the agreement.
2. Please note that the termination will show on your credit file as a voluntary termination.
3. Because there is still liability to be paid your account will show in arrears on our system and with the credit reference agency.
4. If you have set up an arranged payment plan then the credit agency will show you as in arrears but with an arrangement marker.
5. Future lenders will be able to see this information.

What you need to do

1. If you have already set up a payment plan for the outstanding liability you do not need to do not need to call us you just need to make the payments as agreed.
2. If you have not set up an arranged payment plan then contact us to find out how much your remaining balance is and to set up an arranged payment plan.

Please do not hesitate to contact us if you would like us to explain what the above means, or if you have any questions relating to the return of your vehicle. If you are struggling with personal circumstances at the moment, please refer to the contact details below for some organisations that may be able to help.

* At termination you have an immediate financial liability as per your agreement to pay which is calculated as below

• half the hire purchase price
• minus any payments made
• plus any accrued charges