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Topic starter
10/10/2016 11:32 am
Hi all
I am almost two years into my four year term in my PTD. I have a few questions that I am looking to ask?
I have hire purchase agreement for my wife's car that concludes 8 months before the end of the PTD. The car has £6700 still to be paid at this point? The question is could I ask the finance company to extend the agreement to allow me to keep the car as finding finance for a car will not be an option? The car is used for work.
Secondly, I started with Simple Financial Solutions and then was passed to CD. As such they are fantastic. My last question is based on the review periods. I get a review every 6 months. Is this typical. Do they ask for bank statements or is it just payslips?
Thanks to all in advance.
10/10/2016 11:37 am
If the car is needed for work then I don't see why that should be a problem from your trustee's point of view, though you'd really need to clear it with them first. Is the finance in your name or your wife's? If in yours then the fact you are in a Trust Deed might affect your ability to get a loan to pay off the remaining amount.
6 months reviews are pretty typical, with bank statements and payslips usually required. The minimum review period is yearly, but many firms will do it more often than that so as to avoid any issues from building up between times.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
10/10/2016 11:54 am
Hi the PTD is in both names. The car is my wife's name with the finance on my name. Could I ask a family friend to pay off the car and then pay them off over the next few years?
10/10/2016 12:14 pm
It may be OK, but that's a question you'd need to address to your trustee as it is only their opinion that counts.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
10/10/2016 12:16 pm
Hi Thanks for the advice. Can you confirm that if I need to send in my bank statement I can print off as I use internet banking?
10/10/2016 5:13 pm
That would be another question to ask your trustee directly Jimuc - firms will have their own procedures and criteria on things like this.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
10/10/2016 10:10 pm
Thanks again, much appreciated.
They haven't asked for bank statements to date?
Regards J
