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Scottish Trust Deed Forum
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Topic starter
01/01/2013 8:37 pm
Happy New Year to all
If I choose to hand the car over to Trustee at the end of Trust Deed, what would be the procedure? Would it delay discharge.
Say, trustee puts the car in forecourt and waits until it is sold before working on discharge, or do they simply send it to auction for a quick disposal?
01/01/2013 9:02 pm
I would imagine it would go to auction fairly quickly. Discharge can take a while anyway so cant see this making things take any longer.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
02/01/2013 9:01 am
Welcome to Trust-Deed.co.uk michael.
Can I ask why you may choose to hand over the vehicle?
Is there money due for "equity" in it?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
02/01/2013 12:28 pm
Thanks TDA, yes due to equity in car, I would prefer not to extend the trust deed, would like to be debt free as soon as I can and dont mind getting public transport. Also, how is the value determined? If trustee says £3100 but price list shows £2900, what happens?
02/01/2013 12:38 pm
Hi michael.
If the vehicle is actually sold then I guess the price is the price. Valuations are always a matter of opinion to some extent.
The best bet might be to contact your trust deed provider for their guidance about how to go about disposing of the vehicle.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
