The very first thing to do is discover whether your car or truck is protection for the loan. Look at your loan agreement or perhaps the national register (called the Personal characteristics Securities Register).
When your automobile is safety for the loan your vehicle may be seized. If it is an individual loan, a standard notice must certanly be delivered providing you with at the least thirty days to cover your arrears before your car or truck may be seized.
In case the automobile is certainly not safety for the mortgage Your loan provider can’t seize it unless a court is had by them purchase authorising the Sheriff to go on it. This procedure can quickly happen very.
Whenever you can manage to pay something begin having to pay the quantity you are able to pay for and obtain in contact with your creditor on to place a repayment contract set up.
In the event that you can’t manage to spend anything give us a call on 1800 007 007 right away for advice.
Work out how much you nevertheless owe
If you’re perhaps not certain simply how much you borrowed from, pose a question to your loan provider.
Ask to confer with your lender’s hardship department that is financial
Speak to your lender when you can and talk to their hardship that is financial division.
For it to be confirmed in writing and stick to the arrangement if they agree to an arrangement, ask.
When they don’t consent, you are able to connect with exterior Dispute Resolution.
Offer your car or truck
Another choice is always to offer your car or truck. This program might be appropriate if:
- You’ll no further make any re re payments
- You don’t require your vehicle for work
- You need to use a more economical kind of travel, such as for instance utilizing a cheaper vehicle, general public transportation or perhaps a bike. Continue reading Ways to get away from car finance you cannot manage