Car Finance

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jskaife

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Post by jskaife » Tue Jan 12, 2010 6:04 pm
I know this is a long shot but here goes.........

Car finance companies known to give finance to people in an IVA. Please list below :o)

Thanks
 
 

kallis3

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Post by kallis3 » Tue Jan 12, 2010 6:13 pm
Hi, and welcome to the forum.

The following oompany is very sympathetic to those of us with a less than perfect credit record:

http://www.duncton.com/jsp/index.jsp

The APR is quite high, but you will get a car.

You will need to speak to your IP to get permission to take out finance, and you will need to be able to carry on with any IVA payments.
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.
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jskaife

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Post by jskaife » Wed Jan 13, 2010 4:13 pm
Thanks for the reply

Unfortunately they dont deal with anything lower that £200 per month or without a £1500 deposit.

Does anyone have any other suggestions?
 
 

kallis3

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Post by kallis3 » Wed Jan 13, 2010 4:30 pm
I think you will find that any company who does car finance to people in an IVA will have similar charges.

I don't think there are too many about to be honest.
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.
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Julie

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Post by Julie » Wed Jan 13, 2010 4:33 pm
I agree with Jan, I think you'll struggle to find something for less than £200 a month.

If your in an IVA and the car is a necessity, have you thought about asking your IP if lowering your monthly oayments is an option?
 
 

jskaife

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Post by jskaife » Wed Jan 13, 2010 5:49 pm
My IP has told me that any finance obtained must not affect the payment we are currently making. My mortgage does go down from £675 to £240 in March this year but come my annual review I could end up paying more into the plan.
 
 

kallis3

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Post by kallis3 » Wed Jan 13, 2010 5:59 pm
Surely if your mortgage is going to go down by that amount, you could afford to fund a new car?
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
 
 

back on track

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Post by back on track » Wed Jan 13, 2010 6:05 pm
only if the iva payments are not increased as i suspect they will be.
if the ip allows some of the funds for this then ok
cc received 6th January 2014 now upwards and onwards
 
 

kallis3

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Post by kallis3 » Wed Jan 13, 2010 6:19 pm
I would think that if the expense was justified they would agree to it. There should still be money left from the decrease in mortgage to pay extra across to the IVA.
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
 
 

MelanieGiles

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Post by MelanieGiles » Wed Jan 13, 2010 6:23 pm
If your need to replace the car is justified, in order that you manage to get to and from work to be able to pay the IVA payments in the future, then your IP would be silly not to agree to the expenditure - and if necessary should call a meeting of creditors if you would need to reduce your payments to fund the car finance.
Regards, Melanie Giles, Insolvency Practitioner
 
 

back on track

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Post by back on track » Wed Jan 13, 2010 6:34 pm
thats a very sensible way of looking at it mel.
hope my ip sees it the same way if that ever happens to me
cc received 6th January 2014 now upwards and onwards
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