Urgent Advice needed ASAP!

SIMMY

CHR15 wrote: »

They will take the car away, sell it for about £100 and bill him for the difference.

Not paying it will pile more debt onto them, along with default charges etc..... bad move.

Eh? :eek::eek::eek:Sell it for £100 and still bill the difference, i dont know what to advise as he:mad::mad: hasnt got the money to pay would he be better off jus handing it back?

CHR15

I don't mean literally £100, but it will be a figure much less than he currently owes on the car.

The difference will be down to him to repay, which they will persue through debt collection agencies if he doesn't cough up.

For example, he currently owes £28,000 to them for the car
They reposses the car
Sell it for £18,000
Send a bill to him for £10,000 and chase him without compassion for payment.

So he will still owe £10k but not even have a car.

SIMMY

CHR15 wrote: »

I don't mean literally £100, but it will be a figure much less than he currently owes on the car.

The difference will be down to him to repay, which they will persue through debt collection agencies if he doesn't cough up.

For example, he currently owes £28,000 to them for the car
They reposses the car
Sell it for £18,000
Send a bill to him for £10,000 and chase him without compassion for payment.

So he will still owe £10k but not even have a car.

oh thanks mate soz about the confusion . He really needs to sort it for the sake of his OH.:rolleyes:

ILW

SIMMY wrote: »

oh thanks mate soz about the confusion . He really needs to sort it for the sake of his OH.:rolleyes:

He appears to be too selfish to worry about anybody else but himself.

SIMMY

ILW wrote: »

He appears to be too selfish to worry about anybody else but himself.

Yes ILW he is a selfish person:mad::mad: but i really need to advise my friend is there anyway they can pay lloyds back at a payment figure which suits them rather than getting her address blacklisted as well i feel for her as she has never been in any debt with banks etc and doesnt know who to turn to for help.

ILW

Does she have any joint financial arrangements with him?

If not she needs to make sure her finances are completely separate and with a bit of luck she will receive no black marks.

On no account should she enter into any joint arrangements at all.

As far as he is concerned, bankruptsy may be a fair option, with the (in this case) positive side that he will not be able to get any credit for years to come.

Ames

Why is his income so low?

Right. Her credit rating will only be affected if she has joint products with him. To be honest though a bigger reason for her to get rid of any is so that he can't use her money. I've lived with a gambling addict and if he has any access to any cash he'll take it. She needs to make sure he has no access to any of her accounts, or to any money put aside for bills. I vividly remember following my ex into a bookies begging him not to spend the water bill money on the machines in there, he just wouldn't listen.

If he goes bankrupt he'll get a restriction order which could last for up to 15 years because of the gambling. He wont like it but it'll help to protect him from himself.

He needs to go to GA - I suggest your friend says he can only stay with her if he does go. He needs help with his gambling, and to quit. He can also self exclue from bookies and casino's, and get blocking software for the PC.

Bailliffs are a long way down the line. He has to default on payments, then get taken to court, then default on what the court orders him to pay, then they can go to court and send bailliffs. Even then, if they're not invited in then they can't take stuff.

He also HAS to go to the doctor. Tell him that he wouldn't walk around on a broken leg because it's more manly, so walking around with a chemical imbalance is just as stupid. The depression and gambling are all linked.

Finally, tell your friend to come onto Debt Free Wannabe. Even if it's not her debt there'll be loads of help and advice for her, and if she can get him on there then it'll be even better. There's also a gamblers support thread which will be usefull to either or both of them.

SIMMY

ILW wrote: »

Does she have any joint financial arrangements with him? no she does not have any joint financial arrangements him.

If not she needs to make sure her finances are completely separate and with a bit of luck she will receive no black marks.

On no account should she enter into any joint arrangements at all.

As far as he is concerned, bankruptsy may be a fair option, with the (in this case) positive side that he will not be able to get any credit for years to come. how does he go about this? Will the bailiffs come and empty out my friends house?

Ames wrote: »

Why is his income so low?
Income low as only work 20 hours per week
Right. Her credit rating will only be affected if she has joint products with him. To be honest though a bigger reason for her to get rid of any is so that he can't use her money. I've lived with a gambling addict and if he has any access to any cash he'll take it.He already has took off her in the past. She needs to make sure he has no access to any of her accounts, or to any money put aside for bills. I vividly remember following my ex into a bookies begging him not to spend the water bill money on the machines in there, he just wouldn't listen.

If he goes bankrupt he'll get a restriction order (sorry to sound stupid whats a restriction order?) which could last for up to 15 years because of the gambling. He wont like it but it'll help to protect him from himself.

He needs to go to GA - pointed him that way told him to fone em.I suggest your friend says he can only stay with her if he does go. He needs help with his gambling, and to quit. He can also self exclue from bookies and casino's, and get blocking software for the PC he doesnt use the pc its mainly bookies and casinos.

Bailliffs are a long way down the line. He has to default on payments, then get taken to court, then default on what the court orders him to pay, then they can go to court and send bailliffs. Even then, if they're not invited in then they can't take stuff.so they wont be able to take stuff from her property as she is worrying herself sick.

He also HAS to go to the doctor.Said he has booked an appt! Tell him that he wouldn't walk around on a broken leg because it's more manly, so walking around with a chemical imbalance is just as stupid. The depression and gambling are all linked.

Finally, tell your friend to come onto Debt Free Wannabe. Even if it's not her debt there'll be loads of help and advice for her, and if she can get him on there then it'll be even better. There's also a gamblers support thread which will be usefull to either or both of them.

Thankyou very much for all your helpful advice Simm x x x

SIMMY

Car Hire Company have took the car back, because he defaulted on 2payments so he did a voulntary termination. Loans and credit card debts still stand... Not sure what to advise him as to how he can sort that.

Any advice please???

x x x

RobertoMoir

SIMMY wrote: »

Yes ILW he is a selfish person:mad::mad: but i really need to advise my friend is there anyway they can pay lloyds back at a payment figure which suits them rather than getting her address blacklisted as well i feel for her as she has never been in any debt with banks etc and doesnt know who to turn to for help.

Addresses don't get "blacklisted" for credit, people get bad credit scores. If the finance is in his name only, it will only affect him (though if her credit rating shows a financial association with him, she'd be well advised to change that)