Tan has a hire-purchase agreement with Bank Koh Yak (BKY) for a car over a duration of seven years. He has been paying the instalments diligently and has two more years to complete the payments. Since Tan did not apply for moratorium in 2020, he continued to pay the instalments every month. Tan is thinking of completing it earlier as he wants to reduce his debts in view of the pandemic, but he has not taken any steps on it. In December 2020, however, Tan's wife was hospitalized because of miscarriage. Tan was so worried about his wife and was busy handling so many things that he forgot to pay the instalment for December. On 25th January 2021, Tan received a 4th schedule notice from BKY informing him that the car will be repossessed if he fails to pay in 14 days. Two weeks later, agents of BKY towed the car from the parking lot while Tan was at the market buying groceries. Tan is upset and wants to know what he can do as he wants the car back. He is also prepared to pay up all the debts since he does not want to be tied up with paying the instalments.

Advise Tan on the above situation by applying the Hire-Purchase Act 1967 and relevant cases.Use ILAC method.