www.iva.co.uk

Last payment to my iva due 1st April. car problems for entire last year. Friend has offered me a car with Ford under Ambassador scheme when can I apply for this and would I be successful immediately

Good morning, well done on that last payment being just a week away.

I'm not sure what the Ambassador scheme is, but for any credit you would ideally need to have that completion certificate as until that is received, you will still be living within the terms and conditions of your IVA.

Worth a check with your IP maybe to check if this would be acceptable?

okay than you for clarifying. Its been a long six years and the last year has been constant repairs on our car - £650 2 weeks ago and since picking it up its developed a new problem with the coil light flashing on - turn off engine and re start it goes away but the garage needs to see the car when the coil light is flashing! Ok so whats another couple of months of calling the RAC regularly on my commute to work Thank you for clarifying though

sorry - not sure why my original question came up as a new member - I was logged in? Sorry for the confusion.

Could you give more information about what the Ambassador scheme is?

Ford Staff members introduces you to hire purchase a car with a small incentive. I was looking to get the most standard fiesta deposit of £140 and then 36 monthly payments of £140. This is half my usual IVA payment. I appreciate I would never own the car but would trade in and continually make a payment on a new car - but oh no more dealings with RAC and huge garage bills for my 2004 focus

If it is a staff scheme not dependent on credit rating (similar to NHS scheme) it should not be a problem.

Technically your IP should agree to it BUT if you are sure that nothing more is owing and there should be no issues in closing I don't think that there is much of a problem (unless you are with someone like Aperture).

Thank you - have a very good relationship with case worker at Payplan - am def going to phone her Tuesday to check - no way am I going through the last six years to do something illegal at the last post. Thank you all.

Good luck - a lot of us know that feeling around cars and repairs.

Hope that phone call gets you the results you want, be lovely to have a new car

Yes I know I find the car and knowing I can get to work more stressful than the IVA!!!!

Ok so having been down and talked to the garage I realise that this is merely an introduction from a Ford Employee and it is in effect a Personal Hire Lease with monthly payments for thirty six months at the end of which time you make a balloon payment, hand car back and walk away, or take on another car and continue with like payments. Am I right in guessing I would fail the checks taken by Ford? How long will I need to wait before I would pass this check. The friend who has offered to introduce me is unaware of my iva and I would be so embarrassed to fail the check.

It is highly likely that you will fail a credit check while the IVA is still on your credit files, which will be for 6 years from the start date.

ok thank you - the start date was 12th May 2010 so effectively 12th May 2016. How long after this date would I need to wait until applying for this lease car? My actual last payment goes out 1st April 2016.

OK --- the 6 year trigger is for arrangements where the completion certificate has already been issued. In your case it will remain on file until the certificate has been issued and could take about a month after that for your records to be updated.
Get a copy of each file from the three agencies to check default dates and make sure any Notices of Correction get removed ( this is not automatic and must be requested).

Have a read here:

http://pjgrecovery.com/clean-up-credit-rating.asp