car help for bankrupt

Ellie71_2

I know this is a bit of a push but is there any company in Scotland which would give us car finance? My husband and I were declared bankrupt in May 2009 and our car has failed its MOT miserably. Mechanic says we would be cheaper buying another car rather than trying to repair our old one. Any advice would be greatly appreciated. Thank you.

bbl_2

The only people i think you would be able to get one from is the likes of welcome finance, thing is, they prey on the unfortunate like yourselves with ridiculous rates of interests! Good luck regardless

bbl

Oldernotwiser

Surely it's illegal for someone who's an undischarged bankrupt to take out further credit?

dottydora

I don't think it is illegal. I think if you plan to try and borrow more than £500 you have to tell them you are an undischarged bankrupt and presumably so long as the payments come from your surplus income I can't see what would make it illegal. Not sure there will be too many people suggesting further credit though, but that is not meant to be a judgmental comment. I dread the thought of the car being beyond repair and finding myself in the same position. Good Luck!

computershack

In short, not a chance. What is the car, what did it fail on and how much were you quoted? As a former mechanic, I can give you a realistic idea of what it should cost.

fiveyearplan

As dottydora says, it is not illegal for an undischarged bankrupt to obtain credit but if they want credit over £500 they must declare their bankruptcy. Once discharged they only need to declare if asked.

Ellie71_2

Thanks guys, thats right its not illegal, but we do have to declare it. When we spoke to them they said we had to be able to pay out of our living expenses. Car failed on Suspension, brake, exhaust (although a small bit busted, we need to replace whole thing) and the drive shaft whatever that is! When we drive the car, the steering shakes like mad, mechanic says it was a miracle we hadnt had an accident.


2010 off to a great start!

Cash_Waster

Ellie71 wrote: »

Thanks guys, thats right its not illegal, but we do have to declare it. When we spoke to them they said we had to be able to pay out of our living expenses. Car failed on Suspension, brake, exhaust (although a small bit busted, we need to replace whole thing) and the drive shaft whatever that is! When we drive the car, the steering shakes like mad, mechanic says it was a miracle we hadnt had an accident.


2010 off to a great start!

It might just be worth buying a cheap car to get you through. For £750 you can get a decent 10 year old mondeo, vectra with 12 months MOT. If it makes the year, brilliant!

dieselhead

You can pick up cars for less that £500 with around a years MOT, if you can get this money together this may be your best option rather than considering credit. Make sure you give the car a good test drive though.

In_a_Mess_3

We had a similar problem with our car, but it's been costing us dearly all year so instead of paying out yet more money on it bought ourselves a little Rover 25, which I have christened the rust bucket, it is crap, but it does at least go and has mot until next September, I am going to see if I can save a bit by being frugal and then sell it and get something a bit better.

Hopefully if I keep on like that over the years we should gradually be able to upgrade to something fairly decent, without a loan. I have vowed to never ever have a loan for a car again.

DEPTFREE2010

hi

my car went bang the tuesday before xmas, headgaskett, running on 2 cylinders and a load of other things i was so upset that yet anothe rthing had gone wrong for me

luckily my mum helped out and we went car shopping, it was a struggle to find a cheap car but she ended up buying a fiat punto for £700 its a brill car and thanks to my mum i dont have to get the bikes out.

there are cheap cars out there you just need to look the bloke mum got the car fromsaid cheap cars are hard to get at the moment because of the scrappage scheme.

good luck