First things first - have they had an actual valuation done of the car? Does the value they are ascribing to it sound reasonable? It may pay to insist on a proper valuation, or get one done yourself.

Aside from this, it is quite common for value in a car to be gathered in at the end of the 3-year period, though this should have been discussed and made clear when you signed up in the first place! Most insolvency practitioners would ignore low-value cars but if the car has a significant value then this kind of thing is normal

Ok thanks. Value sounds right about £3000. Just disappointed that they where not upfront on this and set the expectation. If I was to get a loan from parents to cover this as a one off payment would that be seen as completion, noting that everything else is in order.

Hi NearlyFinished.

Welcome to the forum.

A loan from your parents to pay off this sum would be acceptable to the trust deed firm.

I agree that this should all have been made clear to you from the start of the trust deed. We suggest that before signing a trust deed people get written clarification about cars, equity in homes, other significant assets and additional income such as the bonus payments you mention.

Thanks and great advice to those getting started.