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.
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
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letter from creditor re car
Posted - 11 February 2010 : 16:19:06
