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17/08/2013 5:32 pm
Hi guys, don't what I'd do without this site, always find myself coming back.
I was released from my TD in March 2013. I had a car on HP throughout the TD and I was due to make final payment in August 2014 - but the car developed serious problems around the start of July this year. The work required amounted to about 2/3's of the value of the car.
This week we have had to purchase a second hand car so I can get to work. The finance is in my GF's name as my credit history is terrible. I used my car as part exchange towards the car and they gave me £1,600 for it. The settlement fee on the HP was £1,800 - meaning I lost £200.
My concern relates to a sentence in the letter I received at dismissal. It states:
"you should not dispose of any assets or acquire any assets prior to confirming I have received my discharge as the Trustee".
Now I haven't acquired anything, my girlfriend has. And I haven't made any money on the part exchange for my car. Am I in breach of this statement?
17/08/2013 9:11 pm
Hi ScotsLad.
If you've had your Form 5 I cannot imagine there will be any problem with any of this.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
17/08/2013 9:40 pm
TDA, Once I have my discharge I was wanting to approach Arnold Clark to see if I would get a used car roughly at the value of 5K, whats the chances? have u known of any success from other contributors on here being successful?
18/08/2013 11:37 am
you could try glencross motors as your out of trust deed should not be a problem hope this helps
19/08/2013 11:26 am
I would read the reviews on Glencross motors first, before buying.
19/08/2013 6:57 pm
what reviews?
19/08/2013 11:15 pm
Hi sparky1.
We've heard mixed reports about getting car finance after a trust deed. The usual issue applies, a trust deed is just one among many factors that will determine whether any lender will offer credit.
Applying is probably going to be the only way to be sure.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
20/08/2013 1:52 am
Best Google glencross motors reviews.....and there is quite a few.
