We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Advice on getting rid of an HPA please
Bakeybadoo
Posts: 810 Forumite
I've already had some great advice regarding my debts and I was choosing between an IVA and bankruptcy.
My husbands main debt is a HPA for a car. If we can work out how to get rid of that, we could probably consider an IVA as our debts aren't that much after that.
I have read an IVA doesn't include HPA and we couldn't afford the £281 per month on the car and then extra for an IVA.
The car details are:
Who is it with - Welcome Finance
How much the loan amount was for the vehicle - £13,714.92
How much is the APR - 28.2%
How much deposit paid - £101.00
How much monthly payments are: £281.54
How many months you have paid - None. We've only had it for 2 months though and we are in dispute over repairs as the car was not fit for its purpose.
How much is the sale value - If we could sell, around £6000 I reckon.
So, any ideas? We are trying to get an appt with CAB sorted but I'd like to have an idea of the options.
My husbands main debt is a HPA for a car. If we can work out how to get rid of that, we could probably consider an IVA as our debts aren't that much after that.
I have read an IVA doesn't include HPA and we couldn't afford the £281 per month on the car and then extra for an IVA.
The car details are:
Who is it with - Welcome Finance
How much the loan amount was for the vehicle - £13,714.92
How much is the APR - 28.2%
How much deposit paid - £101.00
How much monthly payments are: £281.54
How many months you have paid - None. We've only had it for 2 months though and we are in dispute over repairs as the car was not fit for its purpose.
How much is the sale value - If we could sell, around £6000 I reckon.
So, any ideas? We are trying to get an appt with CAB sorted but I'd like to have an idea of the options.
:: BCSC #71 but now discharged! ::
0
Comments
-
you need to sort out the issue of it being fit for purpose first.
contact trading standards and ask their advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards