Car written off

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sammi

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Post by sammi » Sat Mar 30, 2019 12:55 pm
We are in the process of a non fault claim. Just been advised car is being written off as too expensive to repair. Car approx £3800 in value and need car for work etc. It was on a loan within the iva not HP.
Are we able to keep that amount to purchase a new car?
Many thanks for any advice

Foggy

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Post by Foggy » Sat Mar 30, 2019 1:09 pm
You will have to speak to your IP and seek his views and agreement -- I would hope that most reasonable IP's would allow you to purchase a like for like vehicle with the payout.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

sammi

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Post by sammi » Sat Mar 30, 2019 10:29 pm
Thanks foggi appreciate you taking the time.

sammi

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Post by sammi » Mon Apr 01, 2019 1:01 pm
Hi,
Just been offered £3499. Can't get through to IP. Not received email back either.
1. If we agree that figure with the insurance will the money be paid to us or directly to the IP?
2. Once we agree the figure with insurance how long do we have before the hire car needs returning? Do they allow a certain number of days to be sorted and payment received?
Many thanks again for any help

Foggy

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Post by Foggy » Mon Apr 01, 2019 1:43 pm
Mon Apr 01, 2019 1:01 pmsammi wrote:
Hi,
Just been offered £3499. Can't get through to IP. Not received email back either.
1. If we agree that figure with the insurance will the money be paid to us or directly to the IP?
2. Once we agree the figure with insurance how long do we have before the hire car needs returning? Do they allow a certain number of days to be sorted and payment received?
Many thanks again for any help
Purely personal opinion and nowt to do with IVA's, but I would be inclined to refuse the first offer .... they might increase it. The hire car return would be decided by the insurance company paying for it and you would have to put that question to them. Morally I would have thought that they would allow you the use of the hire car for a few days to source and take delivery of a replacement ... but, in rality, I fear that they might take the car on delivery of the cheque.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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