www.iva.co.uk

Hi everyone ... wondered whether anyone has any thoughts.

My IP is hoping to send a report to my creditors offering a full and final offer. There are two creditors who have forced this action for me ... the Landlord of my old business premises and my car lease company.

Neither have responded to requests from the IP to submit up to date claims (complete irony) and so the IP has served them with a notice under section 11.2 of the insolvency act (thanks once again Melanie!) which expires next Monday and after that the IP can present the report.

I don't know what to do with my car though ... it a two year old sporty Micra with 3000 miles on the clock ... the last payment i made on it was April 2007, the road tax expired last August ... I have contacted the company numerous times to come and collect it ... the IP has served the 11.2 order on them ... if they still don't present a settlement figure then I presume they cannot once the section 11.2 has been served?

What should I do with the car?!!

Debbie

You don't have legal ownership of the car Debbie, if it is on a lease agreement, and presumbably you are not using it if it is not taxed.

I suggest that you send them a recorded delivery letter saying that you want it collected within the next 14 days as it is causing an obstruction outside your property (probably best to wait until the end of the 11.2 notice period and variation meeting).

If the car remains uncollected, I then suggest that you contact your local police to complain that the vehicle is causing an obstruction and that you wish to have it removed. Failing that, you may have to take a day off work to drive it to the lease company's headquarters and post the keys through their letterbox.

Option C it to advise them that you are charging storage at 10 per day. and you will not release the car until they provide you with a cheque for storage.

I suspect they will be over really quickly then

Thanks folks ... calling the Police was going to be my next step as I have already sent the lease company two letters by recorded delivery to ask them to come and collect it. In the letter I also advised them that I was unwilling to drive it to their local agent as it was not displaying a valid tax disc. Plus it now has two flat tyres!

I hadn't thought about the storage bit!

I think that I will wait until after the IP has done her bit and call the Police.

At least we are making SOME progress now!

Debbie

Its mad really.
A guy that lives near us had a car on HP, never paid a single payment and after a few months he asked them to come and collect it. And he asked again and again and again ......
He told them it was causing an obstruction and had no tax. They still didnt come.
The DVLA clamped it and put a 7 day notice on it to get it taxed. He rang them and told them and asked again for it to be removed......They didnt come.
7 days later the DVLA and the police went back to the car and took it away on the back of a wagon.
The company the car was from has never been intouch again to my knowledgs.

I suspect this is what will happen in this instance Mrs Skint -crazy isn't it. However I was thinking after my post last night that I will need a car after the Full and Final is settled (thinking positive here) ... I am wondering whether I could make an offer to buy it ... does anyone know how I could find out it's value ... I think they go by British Car auction prices.

Debbie

try parkers.co.uk and automart.co.uk for a review and price guide.

Thanks Pixie ... you're a star!

Debbie

if you want to buy it start charging a daily storage fee. Sometimes you can save a few hundred pounds because he car has been with you for another 30 or 60 days while you negotiate.

60 days at 10 per day makes for a better deal