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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…

Comments

in_need_of_direction Posts: 7,935 Forumite

5 March at 9:51AM

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 11st 12lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge. I’m not perfect but I’m good enough for now.
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