Hire Purchase Agreement Terminated. What Do I Do Next?

[Alwyn]

Hi,

I have a vehicle that is currently being met each month with reduced payments that have been agreed to by the bank. Unfortunately I missed a recent payment and I was issued with a hire purchase agreement termination notice.

Would anybody be able to tell me what happens next please?

I am continuing to pay for the vehicle.

 

[frostie]

When did you take out the agreement, opening balance, how much paid off it, was the HP formally restructured, ie did you sign a new agreement, value of car now, how much original repayment, restructured repayment?

Answer depends on all of the above!