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Martin44
Contributor

8 Posts

Posted - 14 December 2021 :  17:27:49  Show Profile  Reply with Quote
I am legally protected (Trust Deed).
I have an old car worth about 1000, which has been standing for several months and rotting in the parking lot because it failed the MOT.
I can't afford a repair so I have to sell it. As I mentioned this car is worth around 1000. If I sell this car, will I have to return the money from the sale to creditors? Will I be able to keep this money and, for example, spend it for other purposes?

Thanks in advance
Martin S.

Casper

TDA (Debt Adviser)
Trust Deed Expert



13967 Posts

Posted - 14 December 2021 :  18:02:39  Show Profile  Reply with Quote
Hi Martin44,

I suspect your trustee might have an interest in the proceeds of the sale of this vehicle. No harm in checking with them though.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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