60% Mortgage (interest only) divided equally between two people bought at approx 27k 40% rent at todays market value 90k worth approx Thanks for looking

Hi can anyone help on this.... I have been in an IVA with the CCCS for about 15mths now and just had my first review. Since setting up IVA I have become single and my funds are showing a shortfall so I could default on IVA even though I am keeping up with payments. I've been told that I could go bankrupt but I have interest of 30% in a house where my mum lives so if I went bankrupt would she get chucked out or would they consider this when petitioning? Or I could make an offer to clear my IVA now this is a slim chance cos I have no money (neither does my mum) but what kind of return could they accept if this was an option... Many Thanks R

Thanks to you all for the info you've been a great help. Cheers SQB

HI all First Direct rang today to give 28 days notice on foreclosure of my current account because I have entered into an IVA. I don't have any debts associated with them it is just there policy....... Question is, is there a bank account available to me where I can withdraw money on switch/debit card at all switch machines and will I get a £500 O/D facility which is useful and if used cleared off every month?? Look forward to any advice.........

Hi all, I could do with some advice before paying legal!! I left my previous employer in May 08 and then recieved a letter one month later saying i had been paid 2k too much. Having queried it they then said it was a mistake and i only owe them £1500!! Well I then asked for a breakdown because I didn't believe that I was overpayed. I never heard anything back until this morning when I recieved a letter saying if i didn't pay back in seven days my debtwas going to be passed to a debt recovery agency.... My concerns are: 1. Can a disputed debt be passed to an agency without going legal first? 2. I was on commission so surely the onus is on them to prove overpayment? 3. What are my options now and what may my chances of success be? I appreciate your help on this one and will of course return the favour on a subject I can advise on.......

Fair do's now you mention Audi you have a point.... You'll find that if you are swapping car with neg eg but staying with same brand they can normally help you out as they can retail their way out of it. Yes you are correct that figures can be manipulated to help(sic) you, but in todays climate dealers are finding it increasingly harder to fund the neg eg portion of it. What you need to do is ask for written confirmation by fax or post that the finance house has no further interest in the car in question. This will then enable you to decide what to do next as the car is yours?? You run the risk of been sued by a. the dealer who made mistake b. the finance house. It depends who wins the argument between them as to who is liable for the loss(probably the dealer) bear in mind that the dealer probably has its own legal dept and will spend a huge amount through legal fees etc to claw back a small amount as its a point of principal.... The least its going to do is put you in a stronger negotiating position than you were before. I suggest you get a bit of legal advice if finance has been settled and then approach the dealer. Good Luck and keep us informed

YOU missed the payments....... YOU made the mistakes.......... YOU should take responsibility for it, in my opinion they have been very fair in only charging £50 in late fees..... You won't get any joy legally and it will only cost you a heap more money to find this out. 2 late payments on your credit file are not the end of the world. Swallow the pill and learn the lesson my friend.

I would have thought that somehow they would catch up with you.... If you did do anything now with respect to the agreement in your favour it could be looked upon as fraud as you knowingly carried out actions which were fraudulent even if you did not make the mistake you were aware of it....... I find it very unlikely that the dealership has cleared your finance off as several safeguards would have to be passed before they clear finance off. Check to make sure it is not a personal loan which isn't tied against the car and therefore would not show on HPI as a lot of finance houses now do this to get around the revised Credit Consumer Act. Lastly remember that if a mistake was made by someone trying to help you they WILL get sacked for it if you try and profit out of it...... Can your conscience handle that?

Hi, If I'm reading this right you are trying to VT the car back to FCE (Jag Finance) as you have paid enough monies under the half and thirds rules.... Well if you wish to do this you must be handing the car back within the terms of the agreement as in mileage stipulations, service record and condition if you fail any of these criteria the finance house is within its rights to ask for compensation. As you have excess mileage on the vehicle you must pay the pence per mile figure over and above the agreed mileage at end of contract. The only way you can get round this is if you settle the finance or pay the balloon figure. It sounds like the only way you could do this is by P/X your car and downsizing or selling private and settling finance of(although you must settle finance off before you release your car). But in current market conditions you are unlikely to do this. All manufacturers are taking a massive hit on their PCP products at the moment as car have devalued approx 15/20% in the last three months for example allegedly BMW have put a half billion provision against their PCP business and bad debtors in Europe. I'm afraid that since you have exceeded your agreed mileage you are caught by the short and curlies........ Good Luck

You'll probably find Mr vond works for Cracraft(opinion only not fact), as their people watch this and similar sites..... CarCraft cars are pro-rata the most expensive cars in the country and more expensive than most cars at main dealers where warranty is backed up by manufacturer. CarCraft warranty's are underwritten by themselves so whatever you pay for warranty is clear profit for them. But as long as people are gullible enough to see their adverts and buy of them they will always make loads of money. Silver lining is there are rumours in the trade that they're up to the necks in debt and with stock which is devaluing daily and their lenders are getting twitchy..... Lets see eh!!!!

HOnda CR-V it is then......

Good luck mate I hope you win because this happens more than we realise

SD80, Don't ask anymore questions reject the vehicle in writing to all parties involved in the original purchase also explain reason for rejection backed up by engineers report and your own account along with any other correspondance and a diary of events finally tell them location of car and if you have another set of keys drop them in by hand to dealer principal of supplying dealer. Do not enter into further correspondance and do not cancel direct debit if on credit until you have spoken to finance house as this could compromise your credit file. You may also claim any expenses you have accumalated in this episode... Good luck YOU WILL SUCCEED the law backs you up 100%

Leo, You came here looking for advice of which you succeeded but unfortunately your attitude to that sound and professional advice is such that I will be surprised if anyone offers you such advise again... Do not shoot the messenger just because he brings bad tidings my friend.....

It is down to the trader you buy the car from to inform you what kind of agreement you are entering into... BHF offer personal loans tied against the vehicle normally when you are also financing more than the cars actual worth ie. neg eg etc this is to guarantee that you DO NOT settle in the usual halfs and thirds way and it also's gets around the consumer credit act so as an individual you do not get the rights you would under an HP agreement. MORAL of the story is always,always aks the question of the trader as once signed there aint much you can do.........