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Melanie.n
forum expert
United Kingdom
1282 Posts |
 Posted - 05 April 2012 : 14:47:29
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Hello thre, and a warm welcome to the forum.
Unfortunately your finance company has the right, if a vehcile is returned, to insist you pay the outstanding balance due under the agreement which will include the costs of the sale etc of the vehicle, minus any sale proceeds of the vehicle, bearing in mind that the vehicle will more than likely be sold for far lower than the market value at an auction
Hope this helps, Melanie
Melanie Nicholas CertDR
30+years insolvency experience - 23 of which in the Insolvency Service and the past 8 years with a number of IP firms.
If I can be of any help to you in any way or answer any queries, concerns or worries you may have, or with completing the forms for bankruptcy, please do not hesitate to get in touch -I can be contacted via the experts tab
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I hired a vehicle and returned it with 5 months left on contract
