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Scottish Trust Deed Forum
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Topic starter
23/05/2013 9:47 pm
Hi
I'm in a PTD at present and kept my car at the outset which was on a PCP agreement. I obviously can't afford the balloon payment of £6k so am handing the car back on a voluntary termination basis. However - there is excess mileage payable to the finance company plus I expect they will attempt to charge for bits and bobs that I think are wear and tear - but from what I have read, they will try and make money back by charging me for these. My question is, if they do bill me as expected for repairs/mileage, how does this work as I'm in the PTD? Can they go for a CCJ if I don't pay or what else would / could happen? Thank you.
23/05/2013 10:59 pm
Hi Bexter
No, it's a contingent debt and any potential claim just becomes a claim in the trust deed.
Best speak to your trustee who can sort it out.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
24/05/2013 11:20 am
Thank you very much Mark, I will do.
Topic starter
29/05/2013 9:44 pm
Hi again,
My trustee has advised that the potential bill for this cannot be incorporated into my PTD as it was incurred after the TD was signed. Any further advice as to whether this is correct please?
Thanks
Bex
30/05/2013 6:44 am
Hi Bexter
the mileage penalty is contractual. The contract pre dated the trust deed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
30/05/2013 11:22 am
I agree with Mark - as long as the PCP agreement was signed prior to entering the trust deed then any money due as a result of it would be a claim in the trust deed and cannot be enforced.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
30/05/2013 12:53 pm
Thanks to you both, much appreciated. I shall go back to my trustee.
30/05/2013 9:11 pm
I never even thought of that. I will bear that in mind later. Does that also go for damage deemed to be beyond fair wear and tear?
30/05/2013 10:12 pm
It sounds like it might be pingpong, hopefully one of the experts can confirm this soon.
This may explain why there are a couple of finance providers out there that seek to recover vehicles when a trust deed is signed. Most don't though provided that the payments are maintained.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
30/05/2013 11:09 pm
I believe so pingpong. The point of a trust deed is that it discharges you from all obligations entered into before the date of signing.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
