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Scottish Trust Deed Forum
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Topic starter
19/05/2012 7:16 pm
Hi Folks....Wife has had an accident in her car of which it was on finance, and it has subsequently been written off. What was owing on finance is what the car is worth, therefore we need to get another one. Her father has kindly asked us if we would like to borrow the money off him. Is there a limit that we are allowed to borrow without it becoming an asset as such?...he has offered us £3000....any help with this would be kindly appreciated.
TMC
20/05/2012 8:47 am
Hi trident227
Easiest way would be to fully document him buying it and document him as the owner. That would cover all bases.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
