When I looked into selling mine at the beginning of processing my IVA I found out that I was not legally allowed to sell the car as it is not technically mine to sell until I had paid all of the monies owed including the balloon payment. How far they would look into the transaction I do not know. Perhaps if you "sold" it and transferred the money the same day it may not highlight up on their systems but I was told that it is not mine to sell as it still remains their property.
Oh that's a worry Liz I will need to check that as where I am at now is I think I will have to sell our car and then hope there is some money in it which with be enough to put down on a deposit for another car which I can finance through Ducton hopefully. It is such a shame really because I will just be swapping for something of the same value, age mileage etc. When ours is totally reliable and we know it hasn't been hammered around or anything. But there you go beggars can't be choosers and all that LOL - I got myself into this mess LOL
Dont hold me to that Molly. It is just what my agreement had stated in it. Your agreement may well be different. Just read through it word by word and call the creditor with any questions you may have.
Tell me about the addiction! I am on here from morning till night (work permitting)and won't be going anywhere anytime soon.
I love FB as well though!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
