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Posted: Mon Jan 04, 2016 9:32 am
by wannabedj
Hi All
Just before xmas my car decided to give up on me. Had a feeling it was going to happen but was hoping it would get me through. Basically I sorted finance for a vehicle via moneybarn. Just waiting for a letter off Aperture whether they will say yes or no to my application. So was wondering what your thoughts were and if you think they would say yes/no.
Total outstanding on IVA = £1600
Car Price = £7000
Deposit = £500
I obv need a car for work especially now as I have 2 jobs to try and pay the bills. And I've been having to get taxi's to and from (when raining).
Thanks in advance
Posted: Mon Jan 04, 2016 9:43 am
by lifenoteasy
They would be silly not to agree but at the same time this is Aperture we are talking about!
Posted: Mon Jan 04, 2016 9:45 am
by kallis3
I agree - I think I'd give them a call as well to see how things are going.
Posted: Mon Jan 04, 2016 11:24 am
by wannabedj
Yeah know what you mean. Paid to get hold of
Posted: Tue Jan 05, 2016 11:31 am
by wannabedj
Chased Aperture again today and still nothing. Said it will more than likely be tomorrow now because of the back log
Posted: Wed Jan 06, 2016 10:09 am
by wannabedj
*Update* Aperture have declined my application because of the amount of Interest moneybarn are charging. Don't think it'll be much different once IVA has finished.
Posted: Wed Jan 06, 2016 10:19 am
by FormerlyST1100
Aperture, as far as I am concerned, are being totally unreasonable on this for you.
Stepchange had no problems at all agreeing to mine with a loan of £5500.
They should also know that Moneybarn are the only lender, as far as I know, that will lend to someone in a current IVA.
Maybe you need to play the card that without a car you cannot keep your jobs and thus the current income you have from them.
Good Luck
Posted: Wed Jan 06, 2016 10:21 am
by lifenoteasy
Or request that they accept payments to date to finalise your IVA wit the reason that they are not providing support to keep you in employment.
The issue is whether it is affordable - not the interest rate.
Posted: Wed Jan 06, 2016 10:22 am
by wannabedj
I'm going to try and offer a F&F now. I owe £1600 so will offer a £1000 and see what they say. Just doing some working out now.
Will have to get my bike out for now
Posted: Wed Jan 06, 2016 10:44 am
by lifenoteasy
Or request that they accept payments to date to finalise your IVA wit the reason that they are not providing support to keep you in employment.
The issue is whether it is affordable - not the interest rate.
Posted: Wed Jan 06, 2016 10:55 am
by wannabedj
I can give that a go. But got a feeling getting mine closed with them will be a nightmare. As they've not been very accommodating and the amount of errors they've made with my case since changing over is ridiculous.
Posted: Wed Jan 06, 2016 3:03 pm
by Shining
How awful...so they won't accept that you need a vehicle to get to and from work to fund the IVA. Ridiculous springs to my mind!
Posted: Fri Jan 08, 2016 9:54 am
by wannabedj
Also said no to to accepting the payments to date to finalise IVA and said that my offer of a £1000 (Only owe £1600) is too low. Not one to use the lingo of the youth but #FML
Posted: Fri Jan 08, 2016 9:58 am
by lifenoteasy
Insist that the IP formally responds and that they demonstrate that the IP has been consulted.
Posted: Fri Jan 08, 2016 10:36 am
by Michael Peoples
It is not for the IP to decide whether or not an offer is acceptable. It is your right to propose a variation and this must be done within no more than 3-4 weeks of your request.
Tell your IP that you want a variation called whereby you can either close the IVA down as a full and final with the £1,000 or creditors sanction the loan from Moneybarn. It is unfair to just block your suggestions without offering any alternatives.