Morning Amerififer

Your contribution is based on affordability and in accordance with the common financial statement. Have you reached out to your trustee for a review ?

P

Hi Amerififer - it's been a while since we heard from you, I hope you are well?

I seem to remember you were discharged from your Trust Deed some time ago, are you saying you are thinking of entering into one again but are worried about your car?

Cars are generally not a major issue as long as they are of reasonably low value. Is your car on finance?

Good memory Kevin #128522;
All good here. I'm hoping not,but with the current financial climate it might well be in my future again. Therefore was wondering hoe a car would come into play.

Well, there shouldn't be any reason you can't go down this route again if that is what is needed - it happens all the time unfortunately.

A car worth less than £3k is ignored. If it is worth more than that then you might have to make extra payments to your Trust Deed to cover the difference.

If the car is on HP/PCP finance then it doesn't belong to you until the finance is fully paid up. Normally it is possible to continue paying these types of finance while in a trust deed in order to keep the car.