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Ending a hire purchase or a conditional sale agreement - letter

Mae’r cyngor hwn yn berthnasol i Cymru

You can use this letter to end a hire purchase or conditional sale agreement. You might need to do this if you can't afford the payments any more. Before using this letter, it might help to read our information about hire purchase and conditional sale agreements.

This template is to be used for guidance and may not suit your specific situation. If you require more detailed advice and guidance, you can get more help.

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Example letter

Sam Hoolin

8 Park Avenue

01632 960001

11 January 2023

Liable Loans plc

123 Green Lane

Your reference: LL/ANO/Reminder1

To whom it may concern,

Account name: Sam K Hoolin

Account number: 12345678

I hereby give you notice that I wish to terminate the above Hire Purchase agreement with immediate effect. I understand I have the right to do this at any time before the final payment is due, under s.99 (1) of the Consumer Credit Act. I also understand that my liability following termination will be calculated in accordance with s.100 of that Act.

Please let me know the arrangements for returning the goods. When they have been returned to you, please tell me if I have anything more to pay.

Thank you for your help and I look forward to hearing from you.

Yours faithfully,

Sam Hoolin

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