Handing back car on HP

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Wed 20 Aug 2003 08:58
Handing back car on HP - Godfrey H {P}
After reading threads where people have handed back lemon cars after half the HP has been paid, I was just wondering does this blight their credit record? Anybody know?
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Wed 20 Aug 2003 09:06
Handing back car on HP - Wee Willie Winkie
There is nothing to stop you doing this, as long as you have paid at least 50% of the balance of the agreement.

The finance company will place a 'Voluntary Termination' notice on your credit file, purely for information purposes. It is not negative, and 99% of lenders will completely ignore it if you apply for credit elsewhere.

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Wed 20 Aug 2003 09:47
Handing back car on HP - Dan J
Rubbing my hands in glee waiting to get rid of my Vectra in a few months. I do know I have to put everything in writing as they won't accept these things over the phone.

I did query the above and Black Horse confirmed exactly what DieselBoy has said.
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Wed 20 Aug 2003 09:50
Handing back car on HP - Godfrey H {P}
Handing back seems to be catching on! I wonder if eventually the HP companies will create their own lemon list which they won't lend on.
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