Car Leasing

SomewhereOverTheRainbow

Hi

Yet another question - sorry!

Has anyone experience of leasing a car and BR.

I have leased a car for 3 years, which is up for renewal in Feb 12 - I am trying to bring it forward.

Husband is about to lease a van.

Obviously we have no cash to buy car/van and both are necessary for work - witten into my contract I must drive and husband needs van for his business.

We are currently making enquiries about BR.

Many thanks

SomewhereOverTheRainbow

Anyone any experience of this at all?

IF

Hi sorry you haven't received any replies yet but not a 100% sure to be honest. Not sure in NI what the leasing T&C are.

I have read of some posters who went BR and already were leasing a car were allowed to carry on and the OR accepted this, but often there is still the issue of the lease company accepting/willing to lease to a BR unfortunately.

If...x

SomewhereOverTheRainbow

Yeah If - I don't think OR is the problem its the leasing companies who panic - which is bizzare since you don't pay - you ain't got no car!

sundays

i dont think it matters any difference whether your inr northern island or England except the baliffs dont operate in NI.

In terms of OR and leasing.

1. OR is not going to allow you to pay money into a leasing company, when it could be part of a IPA to be repaid to your creditors or fees towards to your bankruptcy . Leasing is dead credit, and you will need credit to get a lease , that will prob cease as a opportunity when you are BR.
No leasing company would touch me.


2. The OR does not care nor not will assist in keeping you in sustained employment, if you cant work due to becoming BR it really is not a concern for them as you can claim benefits and they will not make allowancese to off set that, there are many careers / people / proffessions that are disqualifed for being BR.

Dont mean to sound harsh but have you had the relevant advise etc.

look at what benefits you can get if you do end up on unemployment benefits, my mortage is currently being paid -intrest - i dont think the OR also allows repayment only intrest only .

wayforward_2

Have responded on the other thread