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Jeano99

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Joined: Tue Dec 11, 2012 8:03 am
Location: United Kingdom

Post by Jeano99 » Fri Mar 27, 2015 9:27 pm
Hi everyone
We have been rewarded over 12k in ppi. Over the moon as we weren't expecting it. We asked if it was possible to have the 8% interest as we are in desperate need for a newer car. Ours is on it's last legs & costing money almost every month. We were refused but they offered 4 months grace so we could buy a newer car but it won't last that long. Hubby has lost many days off work due to this. We have used all our resources & cash put aside from overtime to buy a cheap car ( inc their share as we pay it over at review) I'm now worried about the outcome of our review as we have used the cash, which is in process now. Felt like we had no choice. Without a car hubby can't get to work, 60 miles round trip therefore without work we couldn't make the payment. 1st time in a long while I've worried while in the iva. Sorry for such a long post. Any advice appreciated.
End is in sight #128512;
 
 

Foggy

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Location: United Kingdom

Post by Foggy » Fri Mar 27, 2015 10:02 pm
Explain the situation and ask if the term can be extended to cover the arrears that will accrue. The underlying point here is if you don't have a car, hubby can't work and the IVA will not be paid at all.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Jeano99

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Posts: 144
Joined: Tue Dec 11, 2012 8:03 am
Location: United Kingdom

Post by Jeano99 » Fri Mar 27, 2015 10:13 pm
Thanks foggy. I'm hoping that will be ok. We explained that we couldn't wait 4 months to save the payments as we needed a car asap. We even enclosed a letter from a garage saying our car was unroad worthy & not worth repairing. I'll be keeping my fingers crossed. They've been great so far so I'm hopeful. Thanks
End is in sight #128512;
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