Thriftkitten by name NOT by nature....

tigerfeet2006

There is a possibility that you won't get an IPA as the allowances are slightly different. When you are ready then pop up your SoA on here and people will help you complete it.

You are allowed up to £1k for a car and you may be able to push it to £1200.

Thriftkitten

The lady at CAB said almost certainly they will make me pay for 3 yrs as even maxed out on the essential home outgoings im still left with just over 200 a month after the car is gone.:( Regarding the car, how is the £1000 worked out, would the OR take the excess immediately or would they allow me to save that £1000 before payment is made.... sorry for silly question, I almost think i know the answer to this one, although, if I am only allowed £20 excess after bankruptcy how would I save for a car, it would take years to save a grand.

egrescrimp

I highly recommend posting your recent SOA to see if we can help make it better for you

Keep in mind that an IPA will be far less than you currently struggle to pay

Thriftkitten

Hi and thanks for that, any ideas on how the OR allows me to have the £1000 allowance for a car? do they allow you to keep the excess until saved or are you expected to save the grand from your £20 excess

egrescrimp

Thriftkitten wrote: »

Hi and thanks for that, any ideas on how the OR allows me to have the £1000 allowance for a car? do they allow you to keep the excess until saved or are you expected to save the grand from your £20 excess

I don't unfortunately, everything that we needed to replace due to getting rid of HP products was sourced prior to bankruptcy and a family member bought the interest the OR had in our car.

This did lead to a few biggish purchases showing on my bank statements but when explained what they were, the OR was fine with that.

luvchocolate

I would think they they take your car, sell it, give you £1000 to replace, my car was "borderline" at a value of £1500 and was allowed to keep it.
My examiner was very helpful, but they all all different and have to work within guidelines mine did move allowances around for me.

Thriftkitten

Hmm no good here, HP finance car still book valued at 6K... ok thanks for the replies on this will G**gle it and see what I can find.

tigerfeet2006

Stop paying the HP and save the money towards a new car and then get it before BR. It will take them a few months to take action and come and collect the car so you will be able to use it until they do.

Thriftkitten

Having a worry week this week, I think it has finally sunk in the enormity of it all.
I still have not heard back from Charis Grants regarding the help with insolvency fees, I have emailed them regarding my application but get the standard reply about it being a 12 week wait. I'm sure it is around that stage, so hoping to hear something soon.
Still saving hard but getting nowhere quick.... I have managed to save around £500 as it keeps fluctuating with stuff to do with kids etc. But I am starting to panic about the whole situation now... ie christmas, not having much for a car, will I ever hear anything back from the grants people and lose my car in the process because I have now missed 1 payment on it.....Am I making the right decision
Oh the joys of money worries!!!

Thriftkitten

Ok I have crossed a small hurdle and found a car that I like which is worth about 1000, My mum has helped me out a little and I collect it sometime this week.... My question is.... do I insure both cars??? I have to keep the financed one insured and have only just missed the first payment, do I call the finance company and tell them to get it sharpish as I am struggling financially and the insurance will soon run out???? no idea where to go from here, so advice needed please.
I was sure to keep book price for banger at 1k so hoping that the OR does not see a problem with me having a car as I need to get to work.