Made redundant - can't pay car finance.

CHR15

Would have been much easier to deal with it at the time, hindsight and all that but taking on finance with redundancy looming was not the best decision.

If you have no money, you have no money so your options are few.
Get a Job asap and make the payments or stop paying.

They will take the car, you will have a debt to repay.
You negotiate repayments on an affordability basis (use stepchange or similar).
Your credit file will be trashed for some time to come but with no income aside from benefits, you won't be looking for loans anyway.

There is no possibility of keeping the car without paying for it.

Good luck in finding a new job.

Gavin14774

Who said redundancy was looming? As far as the employees knew the company was in rude health and had opened 2 new branches the week it went bust! I don't care about keeping the car.

[Deleted User]

CHR15 wrote: »

Get a Job asap and make the payments or stop paying.

And by get a job, I'd suggest getting ANY job.

elsien

HowardsDrift wrote: »

Bit late to this, but I have recently used Roark Financial to help me in a similar situation

RoarkFinancial.simdif.com

There is enough good free advice out there that no one should be paying companies such as this for debt "advice."

Brock_and_Roll

Even a McJob, of which there are plenty available, at or near minimum wage job should be enough to keep the payments up till something better comes along if OP is keen to avoid wrecking credit rating and sees this as a short term problem.


£7.50ph x 38 = £1,235 per month

DCFC79

Brock_and_Roll wrote: »

Even a McJob, of which there are plenty available, at or near minimum wage job should be enough to keep the payments up till something better comes along if OP is keen to avoid wrecking credit rating and sees this as a short term problem.


£7.50ph x 38 = £1,235 per month

Or a KFC, SubJob.