My main worry was my car as I didn't have any other assets. I can remember sobbing my heart out when I thought I was going to lose the car as (being a drama queen!) I announced to Dave I would be housebound!
My car wasn't on HP, it was bought with (part of) one of my loans. It was worth about £3k so I was surprised when I was able to keep it, but it did need some work doing at that point.
This is one for the experts, but if your sister paid for the car surely it would be partly hers?
I was with Renault and they were helpful they refinaced my balloon payment albeit at 25.5% Apr but it got me through x it needed a second proposal and help from IP (Freeman Jones) but they wanted to help so maybe they will help you xx
On the slow safe road to success. Personal thanks to Melanie Giles Kallis Skippy Elv5 and all the other wonderful forum friends.
Having spoken to Money, Debt and Cedit My IVA account manager has told me to phone and tell him within 2 weeks to let him know if I am going to try and stay with the iVA or go bankrupt and sitting down working out my income and expenditure with my drop in tax credits next month I spoke to their bankruptcy dept. Still trying to work out what they charge £400 for if I decide to go bankrupt with their help.
I am back to the sticking point of my car. I need my car to work and survive with 2 young children, I pay £160 per month HP with Renault Finance I have 29 payments left never missed a payment, never been late and in their words last night faultless account yet Renault did say that they may still take the cra off me if they didnt get a letter of exemption from the OR and then they look at it on a case by case.
Is £160 an unreasonable amount for a hp car along with £217 for petrol insurance, and provsion for tax and maintaince per month? Without a doubt I would find work impossiable without a car or if I did cycle the 6 miles each way and try and drop kids at child minders etc my child care costs would go up at least £70 a week (dependant on how fast I cycle)yes a lot of this would be met by the tax credit system but then would need money for bus fares at a weekend and extra on my food shopping for deliveries etc as I am 15 miles away form an Asda.
Is there anyone who can listen to the whole situation and advise me how likely I am to get my car exempt on the grounds of needing it and what chances I have with Renault of them not taking it off me. I feel as if my car is balanced on two peoples mood that particular day!!
I am scared as once I put my papers in I am at the point of no return am I not?
The other thought going thru my head is trying for a dmp for a couple of years then going bankrupt once my car is paid off and would be worth less than the 2k limit then.
Sorry for the lengthy moan, and I am well aware these are all things I should of considered 12 mths ago but I really am at the depths of despair.
Back to square one but what dunt kill you makes you stronger!!
The OR should have no interest in your vehicle and if Renault are happy to let you continue to pay, provided they receive this letter you have nothing to worry about. No one can give a definitive answer except the OR and Renault and now that Renault have given you their answer ring your local OR and speak to them.
You should be fine but we cannot give definitive answers as we are not the people who make the final decision. All your allowances are fine and I would advise a client of mine in your situation to petition but in fairness your own IP should be helping you more and not charging another £400 for 'assistance'.
I agree with Michael - you do not need to pay £400 for advice which your IP should be giving you in the first place. Insist that you speak to your IP if you need to - we are here to serve our clients not hide away from them.
If I have learnt one thing out of this whole sorry affair is that they are commission orientated and that information is powerful. I am just full of regrets.
Back to square one but what dunt kill you makes you stronger!!
Well, although it is no consolation to you in your own particular case, your own experience will be useful to other forum members when choosing an IP firm to represent them perhaps.
That is a consolation in itself. If what I go thru can help a few people slow down and seriously consider their options then it makes me feel a tad better.
On a lighter note I am still enjoying being thrifty still loving my baragin make up purchases! My skin has not fallen off my face for using £1.99 moisturiser and £6.99 anti wrinkle cream from Aldi. My hair is now cut in my hairdresser friends kitchen once a month and looks better than ever.
I know I will get thru all this eventually....
Back to square one but what dunt kill you makes you stronger!!
Still feel the egg running down my face at the moment so dont feel anything close to advising on anything.
But I may write a blog once I have everything in place.
I am now trying to save the money so I can petition for bankruptc.
I have spoke to a leasing compnay called nationwide and their cars are very reasonably priced on personal lease hire and I could ask soemone alse to do it in their name which I think my sister would do if I told her the whole story. So feel a bit better that if Renault do decide to take the car of me I still have a way of getting car.
In fact looking at the benefits of leasing and the prices etc I dont know why I never looked into it many many moons ago!!
Back to square one but what dunt kill you makes you stronger!!
