Termination Of Hire Purchase Agreement With Cases

From the remarks of the honourable and learned Member for Liverpool, Edge Hill (Mr A.J. Irvine), I understood that, following an amendment in committee, the position would be very different in the latter case. In this case, although the tenant has overcome the obstacles of refusal and above all behaved better than the man, his responsibility would be much higher. If so, it is a paradox of the species that he emphasizes bad behavior. I can`t believe it could be fair. Paul Joyce, a senior FLAC policy researcher and consumer credit advisor, welcomed the clarity of the decision. He noted that the vast majority of tenants were undermining HP agreements due to financial difficulties and would therefore not be able to pay a lump sum compensation. FLAC hoped that the shutdown would put an end to the situation in which financial companies refuse to re-sign vehicles when the agreements had actually been denounced and the lessee, already under heavy financial pressure, was responsible for the maintenance of a vehicle that he or she no longer used. We believe, for example, that the proposal contained in the clause is preferable to what is proposed in the new Term 13, which purports to deal with the landlord on the same basis as our proposals in the amendment accepted by the government, which is now part of Clause 1 and deals with the tenant. In this context, I ask the House what the result is.

This means – and this is a justified objection – that an owner who terminates the contract, perhaps at an early stage, after a very small number of payments have been paid, due to the new clause 13, accepts a compensation process for himself, which, in any case, follows from the position of the 1938 Act; that the tenant must pay at least half of the purchase price. In principle, I don`t like it. That may be the case. I do not want to judge that. But I`ve noticed that I think Hire Purchase companies can spread the risk of these difficult incidents. The honourable and learned member of Liverpool, Edge Hill (M. A. J. Irvine) 414, set out the principle of the expression of the new clauses. I do not think it can be attributed to the self-interest of rental companies that this type of adjustment be advanced in the event of a breach of contract. .