Cars on it way out

Hth04

Hi

I have a ccj (close family member took out credit in my name fraudulently and I wasn’t aware until the sherif officers appeared at the door by which time it was too late) anyway up until this I had a perfect credit record. I own my home with no mortgage abd have one credit card which is paid in full every month. I earn £20k part time. My car is on its way out and I find myself in the position of having to get a replacement ( 60 mike commute three days a week) and a young family.

Where do I start? I need less than 10k but no idea if anyone will look at me due to the ccj (early 2016)

Any advice would be brilliant.

Willing2Learn

I would try one of the eligibility checkers first. How old is the CCJ?

https://www.moneysavingexpert.com/eligibility/loans-calculator/

Hth04

It was December 2015 and it was for just over £2,700. All settled as soon as I found out about it.

DCFC79

I take it you didn't get the CCJ removed from your credit file ?

jonesMUFCforever

Why did you settle someone else's debt - family member or not I would not have done so.
Your way forward is compromised by this and the only credit you will get will be at high interest rates.

(I can hear Capt Mainwaring saying now -'' stupid boy'')

Shakin_Steve

Why do you need £10K? A reasonable car can be had for much less than that. 180 miles a week is not a lot of mileage, although I realise that's only your commute. As your car is only 'on it's way out' and not yet off the road, you have time to look for a loan of, say, £5K and time to look for a suitable car at that price.

fatbelly

Post #2 is your starting point. You may be OK. The next thing to try would be HP/PCP on the car - the criteria are a bit looser as the debt is secured.

But I also agree with Steve that reliability of cars has much improved, while depreciation rates are as bad as ever. It may not be smart to be paying 10k for something that will be worth 5k in 3 years, if you can get similar reliability for 5k (or even 3k or 1k) at the start

Nasqueron

Sorry to say but the mistake was paying off this debt as you are effectively admitting it was a legitimate use of your account. You should have applied for a set aside and reported the family member to the police and got a conviction then your record could have been clean

foxy-stoat

fatbelly wrote: »

Post #2 is your starting point. You may be OK. The next thing to try would be HP/PCP on the car - the criteria are a bit looser as the debt is secured.

But I also agree with Steve that reliability of cars has much improved, while depreciation rates are as bad as ever. It may not be smart to be paying 10k for something that will be worth 5k in 3 years, if you can get similar reliability for 5k (or even 3k or 1k) at the start

You dont need a £10K car - save 50% and buy one for £5K.

Hth04

Because that person was in a very dark place and had attempted suicide shortly before I found out due to the debt they were in and the reasons behind the debt. The person was also a VERY close family member. The person has also turned their life around and is no longer in themess they were in. If I had gone to the police to report it they would undoubtedly have ended up on a very different path. To be honest I did not want judgement on why I did why I did simply a little bit of advice

Peter999_2

I think you did the right thing for the right reasons.


Nothing is ever black or white or as simple as people seem to think. I would have done the same as you in your position.