gavivy4745
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Help Please - Scottish Trust Deeds
gavivy4745 replied to YORKIE0010's topic in Dealing with Debt in Scotland
Hi - Id like some advice - im about to sign a trust deed but was sent this letter as I have a car - I write to confirm that although the motor vehicle registration number -- --- vests in me in terms of your Trust Deed, I have no objection to you retaining use of the motor vehicle, on the basis you maintain the contractual payments to the hire purchase creditor and your contribution to the insolvent estate. This is conditional that you have and will maintain insurance cover, road fund licence and, if appropriate, a current MOT Certificate. If these are not renewed, you must inform me immediately. If you were to continue to use the vehicle without any of these renewals, you would be using the vehicle without my consent and I will not be held responsible / liable for any damage or injury, of whatever nature, caused while the vehicle is used without my permission. Please note that the vehicle will be revalued at the conclusion of the Trust Deed and should the value be over £3000 I will require this to be paid to the estate. This can be done by selling the vehicle or extending your monthly contribution payments until a sum equivalent to the value of the vehicle has been paid. I should therefore be grateful if you will sign and date this letter to acknowledge that you understand its contents. Should you require any further information or explanations, please do not hesitate to contact my office. I was told by them I could continue to renew my car next April for a new one as its on HP - but now im concerned I get to the end and i end up with either a £3k bill or even worse the value of my car to pay (£13k at the moment!)
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