My car which is over 10 years old and has 148k miles on the clock has started to really play up.....think it is on its last legs. Mechanic said to me when i had it MoT'd that he thinks my main gasket is on the way out!!! it would be dearer to repair than what the car is worth.
I had a significant payrise in April and after my review I could comfortably be able to afford £200-£250 a month on a car. I have asked my IP today if i can permission for HP or Lease. They said no as I would be in breach on my IVA but they mentioned this in the context of Car Finance and HP...they didn't mention lease but I did ask about both. They said I could have up to 3 missed payments to save for a car...but 3 months is too far away I need one now. I have gone back and asked them to confirm about leasing...if they say no I don't know what I will do....I also said no car I potentially could loose my job. The funny thing is I can afford it...also people around me keep saying about time you got rid of that and get a newer one...just feel so under pressure...no one knows about my IVA so there is no one to help me...feel really low and upset.
Can anyone out there confirm that Lease is not credit?
Last edited by Busybee on Fri Sep 04, 2009 5:54 pm, edited 1 time in total.
I'm surprised that your IP hasn't been more sympathetic towards a car as you obviously need one for work.
Who is your IP?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Get back on the phone to your IP and point out no car = no job = no IVA!! How daft are they sometimes? I assume that you are paying back 100p/£ already given that your pay rise appears to be yours to keep??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
GT...got to say they are usually quite good. I have done early 3 years now and they have always been great. i do at leat 2 journeys of 128 miles a week (return) I limped home in my car last night...been out and about today in it and it has been fine...it might have been a bit of dirt in the petrol or something (fingers crossed) but it still has problems and is on its last legs....I had to email GT...you know when you have alot to say but you are feeling upset and worried that you are not going to get it all out...plus getting permission about something I would rather have it in some form of writing. I can sort of understand the HP bit being deemed as credit but leasing is renting isn't it??? Looked on Duncton website and there is a nice little Corsa for £201 a month on Personal Hire...the cheapest on there but I would love that car...even if they refused to include it in my I&E I could still afford it. GT replied at 1630 today...I have emailed them back saying well ok but what about leasing as it is renting...wont get a reply back now until Monday I guess. It was one of the support team staff. If they say yes will defo ask for a payment break for next month...unfortuantely my payments come out at the 1st...so just missed one..but if the worse happens I can afford to do a bit of rent a car with enterprise for this month...then using my £700ish missed payment i will then put that down as a deposit...deposit and arrangment fee is around £1K...just hope they say yes. Duncton do say they will help if you are in an IVA and i have seen people post on here before about them. I am snizzling when i type this...just worried..a bit of a blow....just when things started to look up for me as well..to make matters worse I am going on holiday this month which I dont feel I want to go now...need to take £400 spends which I have but feel I shouldn't be spending it.
But will pull myself together...there are people worse off than me...sure it will get sorted and hopefully I will be able to lease
xx
Last edited by Busybee on Fri Sep 04, 2009 7:12 pm, edited 1 time in total.
No i started with 29/£...then got a significant payrise as i moved jobs...Extra around £700 after redoing my I&E per month....obviously done a review and my payments went up...but i am quite comfortable now...it has made one hell of a difference to my life. Being in an IVA really makes you appreciate money. Basically if they took my lease car into my I&E my monthly payment would go down but at the end of the day my payment would still be alot more than my original agreement.
I have replied back saying no car no job...can't wait 3 months to save 3 missed payments up..also pointing out that lease is rent but to be fair their reply seemed to home in on HP they didn't mention lease although i did ask.
Right better fed the cat..he is picking at his biscuits....and get me a large wine out the fridge.
Last edited by Busybee on Fri Sep 04, 2009 7:14 pm, edited 1 time in total.
Hi
Keep on at your IP, it seems sensible to lease a car. Your dividend will not be affected due to your pay rise so your IP could authorise this.
Duncton are excellent, I have a car on HP through them myself
Good luck and let us know how you get on
Regards
It appears you need your car to maintain your payments so therefore they need to look at this, I would definitely go back to them with the facts and hopefully the lease will be granted
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks Andy. Out of interest, did you do your car on HP after your IVA had finshed or during?
When I replied back I also said that I knew people who had had lease hire whilst in an IVA...will wait with interest...will post on Monday. at the end of the day 3 missed payments is just goin gto get me over £2K.....will I get a realiable car for that with the mileage I do.
As Andy says,keep on at them and do your homework regarding the costs involved so you can present a decent case to your IP. If the income is spare I can see no reason why you couldnt lease a car.
My car blew up last month and it wasnt cost effective to repair so along with a small loan from family and savings and a payment break I have managed to get a car(older than the one I had but it will do me). Ip has also allowed me to include paying back the loan to family over the next 10 months in my expenditure.
These things are sent to try us!!!
What kind of car you got Andy?? I reckon a BMW or Merc!!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I think that you need to speak to someone further up the food chain at GT to be honest. I know that they do consider HP for their clients, as I was recently discussing this with one of their senior managers.
I think Andy probably did his afterwards, but several posters on here have cars through Duncton, and ok, the APR is high but there should be no problem with getting one.
I agree that you should possibly email your IP. You can find their email address via this link:
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Many thanks for this I have printed off his details (Gareth Neill). I've only ever spoke to him twice and that was right at the beginning of my IVA..during the proposal and creditor meeting stage. If I don't get a positive response on Monday I will be contacting him direct...from what i can remember he seemed a nice enough person. I was wondering how I was going to get to speak to someone higher with only having the details of the support staff....but great I have his direct details now. The response I got yesterday was from my Case Administrator.
Thanks Melanie...that has installed a bit a faith that I will be allowed to go HP or Lease...thinking about it Lease might be a better option for now...looking at different sites HP seems to be more expensive per month...plus I only have 2 years to go and i could always exchange for a new one on HP then.
Thanks to all of your comments...really helped me...you are the only ones along with GT that I can speak to about any of this.
Fingers crossed that you can sort something out. I am sure your IP will be sympathetic.
Let us know how things are going.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
