Help Car HP

krailton

Hello

I took out a car loan with Money barn in Jan 2014 to purchase a car. I paid £3000 deposit and borrowed £7000 over 4 years so total to be repaid £14,000.(48x£252.51)
I fell into arrears in October, as I had just paid out nearly £2000 on the cost of the car for repairs.
My husband had a crash in October which i am still awaiting the outcome and cannot even afford the excess at the moment. Also My husband is my son carer, and has not been able to work although i do. My husband in October has also been diagnosed with epilepsy and we have had a lot of setbacks. I work for the NHS and not had any rises in the last 5 years but cost of everything has gone up.
I have offered the company a reduced payment plan Of £100 a month till its paid off, but they will not accept this. I also had a accident on sunday.
I have told them that it would be in the interest to let me keep the car and get the repairs done while still paying £100 a month and revise in 6 months.
They have taken me to court and i need to go in may.
I have paid £10,731.60 so far and they want the other £4,116.59 (including charges)

Can anyone tell me whether the court will accept reduced payments or will they make me give the car back?

Thank in Advance

forgotmyname

Only the court on the day will know whats going to happen.

Whats the car actually worth?

Hand it back and get a cheap runaround?

Clive_Woody

Talk to Stepchange or one of the free debt charities who will be able to help and advise on yoru situation.

parking_question_chap

Baffles me why people buy such expensive cars that they cannot afford without finance.

Anyhow, you cannot really predict the court decision.

Free debt charity advice is your best bet imo.

foxy-stoat

krailton wrote: »

I have offered the company a reduced payment plan Of £100 a month till its paid off, but they will not accept this. I also had a accident on sunday.
I have told them that it would be in the interest to let me keep the car and get the repairs done while still paying £100 a month and revise in 6 months

You should bare in mind that by paying £100 a month (if they agree) will only increase your balance. Your best hope is to try and get them to free the interest, at least until the vehicle is repaired, then hand it back to the finance company or at least find out the new settlement figure and try and sell it.