then the OR can't touch it but he would notify the finance company who will no doubt have a clause in the agreement that if you declare BR they can repossess it. They will then sell at auction and the shortfall between the £23K owed and the sum realised at auction can be wrapped up in you BR and written off but you should ensure you enter this unknown amount of shortfall in the unsecured part of section 4 of your SoA. Alternatively you can, as per my previous post, transfer the vehicle to your wife as long as the finance company will allow the finance on it to be transferred to her too.
Handing keys back??
Posted - 09 November 2008 : 14:48:36
