Our car's engine needs replacing and will cost as much as the car is worth.

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Lucyd8371

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Post by Lucyd8371 » Wed Apr 20, 2016 12:47 pm
Hi, we are on our last year of our Iva but I am sure it would be extended a year as we have equity in our house. My parents have offered to pay £10,000 to end our iva early and a meeting is being held on 11th may. We are keeping everything crossed it is accepted as we are both suffering from depression because of all the pressure. What do you think our chances are of it being accepted this year our payments got put up to 800 pound per month.
Now this weekend our car broke down and the engine has gone going to cost us £3000 what car is worth. We are now not knowing what to do about that as I relie on the car for work as I am a lone worker. Anyone else know what we could do in this situation.
This forum have helped me loads reading what others are going through too.
Thanks in advance
 
 

kallis3

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Post by kallis3 » Wed Apr 20, 2016 12:51 pm
Hi and welcome,

Sorry to hear of your health problems. Hopefully your offer will be accepted.

Can your parents help you out in the meantime with help towards the car?
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
 
 

Foggy

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Post by Foggy » Wed Apr 20, 2016 1:21 pm
On the car front --- pop into a local, trusted, independent garage and ask them for a quote on an engine transplant ( if indeed, one is required). I have done this a few times in the past -- then get an engine from a donor (ebay) or buy a similar car with rotten bodywork, or damage, but good engine and swap them over.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Apr 20, 2016 1:44 pm
if you have 12 payments left at £800 totaling £9,600 then I don't see why creditors would reject a higher offer of £10,000...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

garymitch0410

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Post by garymitch0410 » Wed Apr 20, 2016 6:20 pm
Good luck with the offer!
 
 

MG12

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Post by MG12 » Thu Apr 21, 2016 3:49 pm
Good luck!!!

Cars are the devil!!!!
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