Fixed loan with 'Creation' via Car Craft

staceyrach

Thanks again...

Sorry, i think i may have misunderstood something. How long does it take for a DRO to complete? I thought it said a year on the website?

What's the difference between bankruptcy and the DRO exactly?

Sorry for soooooooo many questions, i just want to make sure i fully understand everything before i advise my Auntie and i'm not sure i do yet.

Tixy

A DRO lasts a year.

Bankruptcy may last a year or longer until the bankruptee is discharged.

Both will appear on her credit file for 6years from the date of the orider.

You cannot advise her on which option to take or which she may qualify for as it will depend on so many things, she needs to speak to an advisor herself and they will advise her. All you need to do is advise her to get professional help and give her details of national debtline's number or a list of debt advice charities.

staceyrach

OK thanks a lot for your help.

LR123

Hi Stacey

Have you spoke to Carcraft to see if they can help?

staceyrach

Hi, yes we spoke to them first but they said it's nothing to do with them and to contact Creation.

One other thing i forgot to ask.....

As the agreement is a Fixed Loan Agreement and not Hire Purchase, the car is hers, right? Well, creation have put in her agreement that she cannot sell the car! I've read a lot on this already and it would seem that creation are known to put hpi markers on cars even though the car is not hire purchase. As they've put in her agreement that she can't sell the car I'm assuming they'll have done this to her.

Did i read right that they are breaching the data protection act by doing this?

It's inevitable that my auntie will have to sell the car to pay some of the debt but how can we get the hpi marker removed?

National_Debtline

staceyrach wrote: »

As the agreement is a Fixed Loan Agreement and not Hire Purchase, the car is hers, right? Well, creation have put in her agreement that she cannot sell the car! I've read a lot on this already and it would seem that creation are known to put hpi markers on cars even though the car is not hire purchase. As they've put in her agreement that she can't sell the car I'm assuming they'll have done this to her.

They shouldn't be doing this, you can consider a formal complaint. If they are unwilling to remove the listing on the HPI register you may wish to consider taking your complaint to the Financial Ombudsman Service.

Best wishes,

David.

staceyrach

Hi, just a quick update. My auntie has been advised to go bankrupt by national debtline and they are sending her lots of info. through the post. She was advised to go to an insolvency website also.

Thanks everyone for your help and advice.

stace x

National_Debtline

staceyrach wrote: »

Hi, just a quick update. My auntie has been advised to go bankrupt by national debtline and they are sending her lots of info. through the post. She was advised to go to an insolvency website also.

Thanks everyone for your help and advice.

stace x

Hello again,

I'm glad she called, I hope she found us helpful.

Best wishes,

David.