We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Paying repossessed car debt

Holly59 · 2025-03-03 15:55:28

Looking for advice for my son whose car was repossessed after he fell into arrears with car finance. They have now instructed a solicitor and are chasing him for £20,000 which he hasn’t got. He needs to sort out some sort of repayment plan by the end of this week and is worried sick. He says he has been told by Citizens…

Options

Comments

in_need_of_direction Posts: 7,723 Forumite

5 March at 10:51AM

How much was the car worth? I may be wrong but given it was handed back, surely the amount outstanding would be less the car value?

Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 12st determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge.
0