My sister has lost her job

becky2812

Hi,

my sister jointly rents a house with me, and has just found out she has lost her job as of 10th January.

she has a car on HP, a loan and a catalogue account. i was going to suggest to her that she writes to all her creditors token payments, but was wondering how the car payments would work??
If she send token payments, do they re posess the car? she has only had it a year or so, so is nothalf way thorugh paying.

thanks

TotallyBroke

If she is being made redundant I think she can have time off to job hunt from now. So she has a month to find something even if it is just temporary work. But I suggest she checks that out. She would also get some redundancy money to cover bills for the month of January.

I'm sorry I can't help about the car finance.

becky2812

she's not been there long enough to get anything. she went there through a temp agency, and knew the managers from her old job, who kept assuring her at the end of the temp contract they'd giver her a permanet one. and have now changed their mind!! she has been looking for work, and has been to about 15 interviews and got nothing.

angelflower_2

if she doesnt want to keep it, i think there is a clause where she can return it and not owe a penny. (someone else will no better than me the rules) Either that or keep and make token payments. They will go for reposession of the car if you cant prove she needs it for work though.

What about the rent...can you cover this alone?

becky2812

no not really, i would really struggle, and probably end up using my credit cards etc. which i do not want to do as i have just started to make an effort to get myself out of debt too!!

i;m also worried that if she goes bakrupt sa she is thinking of, because we are joint tennants, what would happen?

RAS

before she does anything, she needs to talk to one of thedebt charities listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help

preferably with her HP contract in front of her and details of her other debts - APRs etc.