I doubt that the bank want the car. Even if they do take it I would imagine that they will still charge her something for the privilege. Check the T&Cs of the loan agreement or just ask them.I have suggested that she surrender the car the bank? Is this now possible since she moved the loan from finance or is it even possible at all?
What's "the obvious"?!Anyone out there share any advice apart from the obvious!
I have suggested that she surrender the car the bank? Is this now possible since she moved the loan from finance or is it even possible at all?
The mortgage has been approved and she is moving into house int he immediate future. The issue is not her been unable to pay the bills, she can afford to pay them but it means she is squeezed financially. She has never missed any repayments and just wanted to free up the debt to get some freedom especially taking on a mortgage albeit a small one.
She is not considering halting the car repayments at all. I am just trying to help her get rid of the debt. She is speaking with the bank manager this evening about extending the term loan on the car and hopefully maybe get rid of it in the near future.
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