www.iva.co.uk

I 22 months left (or 34 if I can't get equity release on my flat) on my IVA and I'm not sure my car is going to last that long. It seems that in the last 12months I have spent more on the car than it is worth. My question is what can I do, I'm not sure its going to last another year and quite frankly I don't feel safe driving it. I am not wanting to change my car for a treat I want to change it because it is a neccessity for my job and allows me to have some little bit of a life whilst paying off for my frivilous spending - never will i own a credit card again! some advice would be appreciated on what if there are any my options could be.... obviously on my IP's and creditor's approval of course

Hi and welcome.

Sorry to hear of your car problems - you need to speak to your IP about this. It's possible they could give you a payment break to get another vehicle.

Is there anyone who could fund a car for you at all?

Hi Lizzielou, I guess a lot depends on your personal circumstances, is there anyone who could lend you a small sum to purchase a more reliable care? there is always the option of using someone like moneybarn if you can afford the lease payments (will depend on how much your IVA payments are and may require a variation) but you would still need a large deposit.

I do think the allowances for car repairs is menial compared to how much car maintenance is, if any of these aren't options then it would probably just have to be a case of put up with it and hope it lasts. Have a chat with your IP as they will know your personal circumstances

You can't continue to drive a car if you don't feel safe in it. That's a recipe for disaster on quite a few levels - even if it doesn't go totally kaput, you're way/style of driving will change and that could be just as hazardous. Take it to a garage and get an estimate on the work it needs. Weigh that up against the price of a new [well, not 'new', you know what I mean] vehicle that comes with a decent warranty. You need to make an informed - and especially a safe - decision. if the garage estimate details a lot of safety hazards that need addressing, I don't see how your IP could refuse a payment break. But, as they say, and as we all learn in one way or another, each case is different.

A payment break will not get you a vehicle immediately - depending upon the current level of your payments and the cost of the replacement vehicle of course.

If you feel unsafe driving your car at the moment, you need to deal with this as a matter of urgency - and this should be in priority to the ongoing IVA payments to be honest. Third party funding is always a good thing to explore, if you have family or friends who could help, and if they can be flexible with regard to the repayments even better.

Thank you all for your replies I shall be getting onto the garage asap!

Let us know how you get on Lizzie.