Hi, welcome to the site. I will help you with your question.
A debt only becomes live again, in two circumstances:
1. if you acknowledge the debt in writing; or
2. if you make a part payment towards the debt.
In these cases, the 6 year limitation period would start again.
I see no reason giving the car back would be wither (1) or (2) above, and so it should be fine.
Could I ask you to rate the answer as highly as possible for me please if this answers your question.
Hi, If I give the car back to a debt collector acting on behalf of the company (who will of course sell it to settle part of the debt) is this classed as making a payment? Or should I ensure I only return the vehicle to the finance company? Any idea what I may say (briefly) so that it does not count as part payment towards my debt? Many thanks for your help...
i no longer want or need the car. Its taking up space. With finance registered, i cant sell it, dont know if could scrap it, but i need it gone now, i dont want it rotting on my driveway as dont use it. But i dont want to restart the clock by giving it back... So would giving it back restart the clock? Should i return it direct to finance comany? Whats best?!!
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