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T O P I C R E V I E W
OTR
Posted - 11 February 2010 : 16:19:06 Hi all, i will be going br soon but had a letter today from car finance company saying i have requested a voluntary surrender of my vehicle { which i have not requested to do } The vehicle is on a FSLA agreement with £10,000 outstanding, the car is only worth £3500, can anyone advise me if this is just scare tactics as i need the car for work and was hoping to keep after my court date. Shall i just ignore it and see what happens, any advise will be much appreciated.
3 L A T E S T R E P L I E S (Newest First)
chester2005
Posted - 11 February 2010 : 19:35:46 if the car is on a FSLA and worth more than £2000-£2500 it would bw wise to sell it before BR and buy one worth less. if you were to surrender the car to the finance Co it may be looked as preferential creditor treatment prior to BR and not good. any money left over could be used to pay the court fees / living expenses / given to the OR
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman) RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
OTR
Posted - 11 February 2010 : 19:18:33 Thanks debtinfo thats settled my mind and i love the statement at the end {so tell them to get stuffed} thats a great way to put it.
debtinfo
Posted - 11 February 2010 : 18:43:39 They cannot take the car back if it is a FSLA as the amount is not secured on the car, so tell them to get stuffed
