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hips87
Starting Member
12 Posts |
 Posted - 08 December 2008 : 17:34:01
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hi all, i went bankrupt 2 month ago and i am alot happier now with a big thanks to everyone on here who helped me.
my car has just died and i now need another asap which i will need a loan for, can anyone reccomend a company that would give me credit 2 months after my bankruptcy ?
i tried a broker who charged me an initial payment of £49 and have now said that they cant get me credit, so i think they just con people.
i need a reliable car asap to get to work,
again any help would be great thanks. |
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leakie
Junior Member
United Kingdom
158 Posts |
Posted - 08 December 2008 : 17:59:11
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Hi Hips87
Don't quote me on this, but I don't think that you are allowed credit whilst undischarged?
I'm sure some one will correct me if i'm wrong
Leakie |
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Integrity
Junior Member
United Kingdom
201 Posts |
Posted - 08 December 2008 : 18:02:07
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Welcolme Hips
Be cautious here. The bankruptcy rules state that you can not borrow more than £500 without informing the party that you are bankrupt.
In the current financial climate you may find it difficult to obtain credit whilst in bankruptcy.
Your best bet maybe is to ask relatives bearing in mind the above rule still applies. |
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hips87
Starting Member
12 Posts |
Posted - 08 December 2008 : 18:43:53
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| ooh i didnt realise that, i will have to see if my girlfriend can get a loan and give me the money ! |
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hips87
Starting Member
12 Posts |
Posted - 08 December 2008 : 18:49:32
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| do i have to tell the or that i have got a new loan ? |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 08 December 2008 : 19:06:50
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Hi Hips87,
its to my understanding that if your girlfriend gets the loan and therefore buys the car, it would be counted as her car, I dont think the OR would let you pay her from your income, as that could be money that could be going to creditors, if your last car was on HP and it has died then you will still be liable for the HP but you will have to inform the OR. Either way I would inform the OR to keep them updated of the current situation.
Hope that helps
Stu J Byron |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 08 December 2008 : 19:22:13
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Hi Hips87,
Havinf gone BR only 2 months ago, you can (under the restrictions of bankruptcy) obtain credit of more than £500 if you disclose the fact you're an undischarged bankrupt. The reality is that you've got no chance unless you're prepared to pay an APR of 100% +.
In addition, Stu is absolutely right regarding on how the OR will treat this.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 08 December 2008 : 19:56:34
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Thanks Julian
Glad I can help
Stu J Byron |
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hips87
Starting Member
12 Posts |
Posted - 10 December 2008 : 16:08:02
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i think i will have to pay 100% apr then because i need car credit asap.
does anybody know a compny that would give me credit ? |
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Topic |
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where to get a loan ? !
