Help!

shylocke

Hi all,
We are on a DMP with pay plan and are doing well, having paid almost £8000 off £40000 debt in a year - the debt built up when hubby had to quit work due to major illness and boy are we paying the price for that stretch! Anyway, we have a clapped out Y reg car that's falling to bits, i really need a car to get to work and this one is be owing increasingly unreliable and borrowing hundreds off mum to fix it is no longer an option - it's cost over £1000 this year in repairs! Anyway, I contacted pay plan and they told me I can get a car on HP and then review my DMP accordingly - the issue is I can't get credit as I am in dmp. This is a nightmare for me, to lose my job would make it impossible to continue in DMP and we would lose the house, which is only an ex council but a settled home for our disabled kids. A
Does anyone know where I can get a decent car on HP from with no credit rating and that won't charge me to far over the odds? I really really need a car . Thanks in advance. Shylocke

fatbelly

Pop over to the motoring board for advice. Tell them what you've got and ask them what they think.

I've got to say I don't like the idea of getting a car on HP - very odd suggestion from Payplan.

My car is Y reg and I don't consider it old. If you've spent £1000 on it, are you sure you haven't sorted the problems?

Well done on paying off 8k BTW

ontheway_2

I had a similar problem a couple of years ago and was luckily able to get a low interest loan from my employer because a car is essential for my work. Repayments are taken from my salary. If this isn't an option would a credit union help? I've never used one and don't know much about them but it might be worth looking at. There are companies that will lend for a car but as you say, it's likely that interest will sting you.
This isn't much help I'm afraid, but good luck and well done on the repayments.

shylocke

Hi, thanks for that, sadly we have definitely not sorted the problems as it's something new every day! The e-mail from pay plan says HP is the only option as the loan is secured on the car... Will take a look on the motoring board now!

feeling-good

First of all a massive well done on tackling your debt and paying off £8,000 in a year, really good.
However I am very surprised that PayPlan have said it is ok to get a car on HP !
I was with PayPlan for 5 years (now debt free ) and one of the conditions was that when in a DMP you would take NO further credit.
Also if you do manage to get this HP your payments to your creditors will decrease and I am astounded that PayPlan have agreed to this.
But will your crediotrs agree to it ?
I am sure if I wrong someone will come along and correct but I talking from experience.
Also if you do manage to get this HP wont you be back to square one ?

I am sorry if it feels like I am lecturing you, but think how far you have come reducing your debts and what a good feeling it is.
You could almost certainly get a cheap reliable runabout for around £500 and even if it only lasts you 12 months it would be so much better.
Good luck on your debt free journey

paulmapp8306

I had a similar issue, my 12 year old car costing lots - AND needing new suspension AND rusting away. I spoke to CCCS who told me top go buy a car and come back with the payments. They see it as a necessity IF you need it for work. for me I do as Im forces, but my quarter is 18 miles from where i work with no direct public transport links - and as im in NI cant travel on it even if there was.

I did get offered a loan, but i wasnt happy with the repayments (£180 PM for not that much cash really), so I went cap in hand to mum. She lent me £4k to be payed at £100/month until I left the army (40 months happily). I spoke to CCCS at that point and they cleared the purchase, redid my SOE to include the family loan. The creditors were happy as it was 0% and meant I kept a decent income (so could pay them more than if I didnt borrow the money).

Anyway we bought with cash meaning a much better price on the car as well. Its more economical so less petrol spends on the DMP. its worked out fine. IF you've borrow'd from family for repairs - maybe broach something similar? clear it with you DMP manager first mind.

shylocke

Thanks guys, unfortunately I definitely cannot borrow more from friends/family, having a complete nightmare as car truly os essential to me!
Will keep looking for a decent deal, wish me luck