Keeping a car worth £2k and going bankrupt? £2,800 is still owed on the car...

kation

Rochdale_Guy - why the anger/sarcasm? I took time out of my post BR life to sit down answer your posting in a non-judgmental and polite way...

I can't be bothered to reply further - it's your problem mate.

Rochdale_Guy

kation wrote: »

Rochdale_Guy - why the anger/sarcasm? I took time out of my post BR life to sit down answer your posting in a non-judgmental and polite way...

I can't be bothered to reply further - it's your problem mate.

I thanked you in my reply. I appreciated your reply.

My anger isn't directed at you, I apologise if it seems like it was, okay?

:A

davemorton

If you are struggling to pay the £127 then can you really afford to keep and run a car???
To be honest, after some of your comments in this thread such as...

What incentive is there for me to go bankrupt?
...the creditors can whistle for any more money out of me.

all sympathy is lost. Who do you think picks up all YOUR debt in the long run?? Take some responsibility for your life, and pay off your debts, you enjoyed them when the going was good.
And no, before I get flamed, I dont normally feel like this for people going bankrupt, but usually, these people appreciate that they may encounter hardships in order to straighten their finances.
There are MANY people running around in £500 cars trying to keep their heads above the water and live up to their responsibilities.

Rochdale_Guy

And so it begins.....

I am taking responsibility for my life. You don't know jack about me. I didn't "enjoy my debts". I had to spend on my credit cards to survive, rent, bills, food etc.

I'm hardly living the high life.

I admitted I had a problem with what I owed and faced up to it, not an easy thing to do.

I got on a DMP and *AM* paying back what I can, which is £126 a month even though that is crippling me.

There are a people out there who don't give a fig and see bankruptcy as an easy way out as they can have their debts wiped and they won't pay back a penny.

I am trying to pay back as much as I can of that debt, but don't see why I have to surrender my runaround which I will need if I am ever going to get another job when I am shortly made redudnant

I have asked people at work who own "jalopy" sub-£1k cars and they ALL MOAN how much they cost to run in repairs and maintenance, new gear boxes, clutches, suspension etc etc.

But, "if the powers that be" want to take someones car off them and make them get a jalopy that will inevitably cost them more to run, then that is just not fair.

And no, life isn't fair either.

davemorton

Okay, I will try to be more objective on this....


I am taking responsibility for my life. You don't know jack about me. Correct, only what you have told us, so have to judge from that I didn't "enjoy my debts". I had to spend on my credit cards to survive, rent, bills, food etc. So spent above your means, you did not need a £7000 car.

I'm hardly living the high life.

I admitted I had a problem with what I owed and faced up to it, not an easy thing to do. Very true, and commendable, but what we are judging now, is how you are dealing with facing up to it.

I got on a DMP and *AM* paying back what I can, which is £126 a month even though that is crippling me. So again, can you really afford to run a car if you are struggling to afford £29 a week? Road tax, insurance, petrol, never mind any tyres, repairs etc. wont be cheap

There are a people out there who don't give a fig and see bankruptcy as an easy way out as they can have their debts wiped and they won't pay back a penny. But they, like you, realise it isnt an easy way out, they loose things like their car.

I am trying to pay back as much as I can of that debt, but don't see why I have to surrender my runaround which I will need if I am ever going to get another job when I am shortly made redudnant No, you need a method of transport, not a car beyond the means of many people

I have asked people at work who own "jalopy" sub-£1k cars and they ALL MOAN how much they cost to run in repairs and maintenance, new gear boxes, clutches, suspension etc etc. Can be, but older cars can sometimes be more reliable, cheaper to run, and easier/cheaper to fix

But, "if the powers that be" want to take someones car off them and make them get a jalopy that will inevitably cost them more to run, then that is just not fair. Quite often dont cost more to repair, and yes, as you say, life aint fair

And no, life isn't fair either.

I do wish you luck, perhaps just keep paying what you are paying, keep the car, and hope things get better/you get a better paid job.

Rochdale_Guy

Thank you, sorry for being a bit snappy earlier, anyone who knows me on here will tell you I'm not normally so abrupt

I appreciate all those points, but I bought the car (well, £7k loan back in 2004) when things were okay.

I have worked full time for the last 15 years, and being a late starter when it came to learning to drive, snapped this car up as it had only done 5,000 miles on the clock, I don't have a house, so it was the first "big" purchase I'd made in my life. I was 37 then......

Thank you though.

davemorton

It cant be easy, especially when it isnt 'just a car' to you, it is a special purchase that presumably holds some good memories. But what you need to understand is that other people will just see it as an asset. I hope that things sort themselves out for you, and no matter what course of action you take, its the right one for you.

davemorton

End of the day, there are things so much more important than money or possessions.
(not meant to sound condescending, but to try to put everything into perspective.)

Rochdale_Guy

davemorton wrote: »

It cant be easy, especially when it isnt 'just a car' to you, it is a special purchase that presumably holds some good memories. But what you need to understand is that other people will just see it as an asset. I hope that things sort themselves out for you, and no matter what course of action you take, its the right one for you.

Thank you. It *IS* more than just a car for me. It's my escape. The only big thing I'll ever own... sigh

Cheers davemorton :beer:

debtinfo

Rochdale_Guy wrote: »

Thank you. It *IS* more than just a car for me. It's my escape. The only big thing I'll ever own... sigh

Cheers davemorton :beer:

Sorry to break it to you but if you are still paying off the loan for it is it the big thing you own? maybe in title but you havent really bought it, I paid £1500 for my car a few years ago and it still works fine the biggest thing i have had to change is exhaust. so there are bargins out there if you look for them