Help Please

Bigeviljimmy

i dont own the car and you dont earn a no claims bonus

Bigeviljimmy

Ok I think I will get rid of the car but what else do I do with the rest of the money owed on it and on my loan? Would I be better going through pay plan or bankruptcy?

lynzpower

If you do rent a car, what will be different then ? Will, for example, you get 15k back? That could pay off the car loan, what sort of depreciation are we looking at? Sorry I know nothing about cars!

Lets say Income is 1250
Outgoings: Rent £450
Council Tax £120 ( are you a single person in the property- have you got single persons tax rebate allowance?)
Phone £10
Insurance Home £16
Insurance Car £180 ( will this go if you have a rented car?)
Car £335 ( presumably this will be the same cost if you hire roughly? Or less?)
Loan £127
Radio £376 ( what about this? For a hired car will you still pay this?)

Most people pay
25 water
25 gas ( although together you can get them for less, some people say...)
25 water ( dunno just guessin here)
100 food & toiletries & cleaning
=

Anything else? Do you smoke? Drink? have pets? Kids? Healthcare plans anything like that?

Now onto the debt...
Debt Car £15674.96 @12.8% ( whats this a month)
Loan £7600 don’t know the apr at the mo ( whats this a month?)

If you could do a SOA with the new figures it will help give us more to go on

All the best
Lynz
x

Bigeviljimmy

i own black horse £15674.96 for the car car wich is 335 pm if i hand it back they will send it to auction and take whatever they get for it off he money i owe them. When i rent a car my insuranec will be included for £150pw incuding repairs & mantenance. I will still need to pay £376pm for the radio. my loan of 7600 is £127 pm. I dont know about rebats for the council tax as im just in the flat i will need to enquire.

Thanks

amosworks

Hey matey, welcome

Judging by your CTax, you're a single occupant of the flat. Have you claimed the 25% single person CTax discount you can get? Whilst on the subject, how many beds is the flat? Can you share to halve your rent? Maybe in 6 months (if you're locked in to a 6 month assured shorthold tennancy agreement) you could share a flat or house with a mate and literally halve your outgoings?

Edit:
Just noticed already mentioned about the CTax rebate. Too slow