I have a trust deed. I am currently unemployed and on employment support allowance due to a bad hand injury and therefore cannot make any contribution to the deed. In April this year Black Horse finance illegally repossesed a vehicle ( they did not produce a court order as was the terms of the agreement) I had on hire purchase lease. Working together with the Citizen advice bureau we managed to recover all of the monies paid to BH. Naturally this money was paid to my trustee. I have asked my trustee to refund some of the monies to purchase another vehicle to assist with getting work.He has agreed to allow to spend up to ?รบ3000.00 on a vehicle with the pooviso that I find work within 4 months or I have to return the vehicle to the trustee.. I have had trouble getting the money from my trustee. Firstly one of his employees told me I would recieve a cheque and now they are saying that they will not send a cheque but that I should identify a vehicle then they will purchase the vehicle on my behalf. This has not been satisfactory as anytime I have seen a vehicle nobody is there to help with geting the money. I have now been told that if I forget purchasing a vehicle that they will use the monies to pay off my trust deed and release me within 8 weeks leaving me free to get finance for a car and find work.Cant see how i can get finance if I dont have employment? . I am not entirely sure if this a good thing and would appreciate any advice you can offer. I had to turn down 2 offers of employment as i did not have a vehicle and this was part of the criteria.
Hi countrymikeuk, welcome to the site.
This is an unusual situation and a difficult one to answer I think. As it is not really a technical query I wonder if any other forum members have an opinion or suggestion.
Early discharge is obviously an attractive proposition, but not if you are stuck in a chicken and egg situation where you need a car but cannot afford one until you get a job, for which you need a car first. Are there other jobs you may be interested in/qualified for where you wouldn't need a car?
How long do you have remaining on your trust deed as I guess this might have a significant bearing as to how you choose to proceed?
Kevin
Hi Guys
This is certainly unusual and doesn't, as kevin mentions, fall under any legislation or guidance.
Could I ask how much was recovered and what the total contributions would have been.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.