Uninsured Accident - Please Help

JohnFredrick

Yeah his accepted the fixed penalty

Its just this write off value of the car he hit that the hire company is trying to claim along with their losses thats making him lose his mind, he simply cant afford it

From what I know court only make a installment deal if it can be cleared within 3 years, but no way can he even clear £15k in 3 years let alone £40k+

Someone advised to take liability and try make a deal with the court and then declare bankcrupt?

MovingForwards

The instalments don't have to clear the debt in 3 years if it's a CCJ.

Car_54

JohnFredrick wrote: »

Someone advised to take liability and try make a deal with the court and then declare bankcrupt?

The court will reach its finding whether or not he “takes liability”.

JohnFredrick

So what you guys suggesting he does...

Whats the ideal way for solution?

If he had 100k to his name he would of coughed up for his mistake, but he has no money or assets

AdrianC

JohnFredrick wrote: »

So what you guys suggesting he does...

Whats the ideal way for solution?

If he had 100k to his name he would of coughed up for his mistake, but he has no money or assets

There is no easy way forward. He is liable for the value of the car and for the cost to the rental company of the loss of rental income until it can be replaced or repaired. And, of course, for the costs they incur in getting him to pay up...

So his best solution is to simply minimise those costs from hereon in. Stop trying to dodge, stop incurring more costs, and talk to the insurer to try to come to a settlement.

Arklight

JohnFredrick wrote: »

So what you guys suggesting he does...

Whats the ideal way for solution?

If he had 100k to his name he would of coughed up for his mistake, but he has no money or assets

I think he's worrying too much. He'll get a CCJ, then an amount he has to pay back each month. If he can't pay it after an IFA, bankruptcy would be a solution. If he doesn't have any assets there isn't much for them to go after.

Dr_Crypto

I’m no great expert but isn’t he best off accepting the debt then doing bankrupt? Rather than being shackled by repayments for decades. If he doesn’t have any money he hasn’t got much to lose.

Arklight

Dr_Crypto wrote: »

I’m no great expert but isn’t he best off accepting the debt then doing bankrupt? Rather than being shackled by repayments for decades. If he doesn’t have any money he hasn’t got much to lose.

He hasn't even been to court yet. The payments they set might only be £10 a week and if he's on a low income they probably will only be a token amount.

The OP would be much better off on one of the debt boards. All this, he's had it, he's screwed from this forum is extremely unhelpful, and inaccurate.

JohnFredrick

Thank you Dr Crypto and Arklight, sounds helpful

Yes i think thats the plan, accept the debt / agree to it and then go bankcrupt as he cannot afford it

Arklight

JohnFredrick wrote: »

Thank you Dr Crypto and Arklight, sounds helpful

Yes i think thats the plan, accept the debt / agree to it and then go bankcrupt as he cannot afford it

Bankruptcy sounds like the best option. Even if they give him a nominal amount to repay (which is likely) he would have it sitting over him forever and that could seriously limit his choices in the future.

You live and learn, one of my friends went bankrupt in his early 20s, and was a higher rate tax payer in his mid 30s.