My car has broken down and its going to cost £1500 to repair approx., car is 10 years old and not worth the repairs. I have asked for a payment freeze and waiting for a reply. But thought I would just ask your thoughts my chances of getting this freeze. I currently pay £719 a month 3 years into IVA and want a 2-3 month payment freeze so I can buy a car for £2000.
Thanks
You can ask - if you need a car for work then they should allow it. The payments can always be tagged onto the end.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks I have been advised that I need to show evidence of the car I am buying and how much I get for mine and then they will look to freeze payments for that much. She did say she normally liked to increase payments to get the money back sooner. I am hoping to go down the route of tagging two extra months to the end as I can't afford to pay extra! I hope they agree this way.
Fingers crossed!! Let us know how you get on and argue your corner for tagging the payments on to the end.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hello I got my payment freeze and brought a Peugot 206. However, 3 months down the road and it appears the head gaskett is leaking could be an expensive repair bill waiting to hear from garage. What do you think my chances are of getting a nother payment freeze to help with the repair bill? I currently pay £715 a month to IVA.
Once it's fixed it might be worth looking at the warranty insurance - no idea how much that costs though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Your IP can usually sanction the break but may need to get permission from creditors. This is likely to be given anyway but provide whatever evidence of the repairs that you can. A quote from a garage should suffice.
Always worth discussing with your IP -- after all, often a car is an investment, in that no car = no work = no IVA payment, so they usually do what they can to assist in such circumstances.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Confirmed Head Gasket leaking - around £700 to repair, car isn't really worth it only paid £1400 for it, but I need a car to get both myself and hubby to work. Was hoping this car was going to last the duration of my IVA. As its just under 3 months since I brought it I have contacted the garage I brought it from consumer rights and all of that. Otherwise I will be having to get in touch with Aperture again.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You are certainly having bad luck on the car front.
I went through a similar phase a couple of times with my car during my IVA and was allowed to reduce my payments to cover the repairs, and given the option of tagging them on to the end of the IVA or making the shortfall up with increased payments over a designated period.
Your IP has the authority to reduce your monthly IVA payment by 15% in the event of hardship without the need for approval from your creditors and it makes sense to work with you as you need your car to earn your wage.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
