Trust deed car exce...
 
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Trust deed car excess

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(@brown822)
Active Member
Joined: 11 months ago
Posts: 2
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Hello! 

I have recently had an accident in my car (not my fault) but sadly I need to pay the excess to get the car fixed.  Obviously due to my trust deed I do not have the kind of access to money required but I am due my review in April and I’m worried to try and save together money they’ll want this as additional payment but I need £500 to pay my excess as the car is on PCP so needs fixed! Will I be able to keep some money in a monzo pot & pay for this as long as I provide a receipt in with my documents to prove where the money went? Thank you!


   
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 CIF
(@cif)
Reputable Member
Joined: 12 years ago
Posts: 226
 

In these scenarios, you are best to speak to your Trustee as they will work with you to overcome the hurdle. It's a one off event, so easier to manage.

Just on another note, as you said the accident isn't your fault then you will be able to recoup the excess from the responsible party's Insurer. Some Insurers will actually waive your excess altogether if the other side have admitted liability. Could be worth a conversation with your Insurer to see what their view is on this. It would save you the initial outlay.


   
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