my husband had taken loans & cards out all behind my back,he lied,covered up&ran up our joint bank account. so, credit scares the **** out of me.
i'm disabled, without a car i would literally would not get out of the house.
for some people waiting to save is not possible due to shifts or location difficulties.
i am NOT encouraging anyone to take on debt. having lived through this last year the thought of credit/my hubby taking out credit[:(] gives me panic attacks.
without my parents help to do a F&F IVA we'd have had to go BR,just today i said to my hubby maybe we'd have been better going BR - it's going to take us years to repay my parents back.
we cannot judge. i hope from this experience that my hubby(who i love very much) keeps to his promises of no more cc's or secret loans.
it has been hell at times,i've no wish to go through it ever again.
Nothing stays the same...everything changes..hang on in there!
Daves post was generic Skip not targeted at you,and have noticed in recent months he,s Posts have been very professional and helpful,Although we have our own opinions and look after our own finances,its important that we send out the right messages to people concluding there debt arrangements,so they dont fall back into the same trap.
Last edited by MRBLUESKY on Sun Jan 22, 2012 8:54 pm, edited 1 time in total.
First of all apologies to antm for his post being hijacked like this. Sorry for spending a fortune on your behalf!!!
I'm sorry you feel that way Daveyboi. I also felt that your original post to me was patronising. I think we're going to have to agree to disagree on this subject!
At some point in the future I may have to do a lot of commuting, over 100 miles a day. To me then a new car would then be a necessity - as a woman who would be driving on her own an old banger wouldn't be an option as I would want the safety of a new car.
Rose I genuinely hope your husband respects your wishes and doesn't take out anymore. I don't know if you are good with finances but taking an active interest in them with him will definitely ease your mind and not feel ignorant of your joint finances. Do you not receive any benefits for travel if you can't leave the house without a car?
Skippy happy to disagree on this one my advice to any other people reading this thread would be to in the future post IVA always try their best to live in front and not through finance as much as you can. A loss of job, redundancy , loss of regular overtime and such like situations can quickly change your gross income and your disposable and any amount of debt is a risk that everyone should take very seriously
Sorry but if the financing of a car is an affordable expenditure then why not,after a house it will be the 2nd biggest buy in your life,and you wont save up to buy a house will you?
There are plenty of good cars out there for £5000 and less but the costs are all relative to your income. After our trust deed we will be £550 a month up,now I could save up for a year and go buy a car for cash,or I could decide on my budget and stick to it.
Remembering of course that we all got into trouble for very different reasons,some of us will be more comfy than others in dipping our toe back into the money borrowing pond,it wont make us bad people.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Oops what have i started, nope i wasn't going to go all in for a new new one, been there done that before, one 3 years old at a good price was the idea. Contacted citroen as they helped me before and i know they have a massive overstock of 2/3 year old cars.
My original plan was to save for 10 months i reckon i could of saved about £4k and with my current car as deposit i should get another £1k towards something half decent. But if my car gearbox has failed i have to look at other alternatives, 3 years ago i commuted but now its just not possible, i work till midnight or at 4am in the morning, i can at times travel from brum to mid wales so a car is essential.
Last thing i want is a flashy BMW on the drive and massive debt!
Paul as skippy and nepensioner have pointed out you're an adult if you are desperate for a car and don't want to wait 10 months but rather spread the cost then feel free. I had debt in my name for someone else who died of a heart attack at the age of 22 and I won't be taking any agreements out for anybody else and that's how I got here as it pushed my expenditure over my income once he died.
Resorting to finance doesn't make you a bad person Paul but I would consider myself a bad person if I did not advise people to choose the saving route and not the finance route if you can.
A mortgage is not just a debt it's also an investment. Yes there's risk but ultimately a grand prize to be won if you're not unlucky financially
Everything else can be saved for including weddings that cost a lot of money.
I think that Paul is absolutely correct, antm needs a car, he needs it to work and if finance is the way forward to achieve that then it may well be a decision he has to make. It doesn't necessarily mean that he will be on the slippery slope of doom. After all he is 58 months in, that's no mean achievement! Good Luck from me antm and keep us posted regarding your car situation - we too have struggled over Christmas with a car and if we don't have one then we don't work and we don't earn money..
We are all in the gutter but some of us are looking at the stars - Oscar Wilde. My blog: http://car1e.blogs.iva.co.uk/
Yes, once out the other end ( assuming the skip makes it) my master plan is to save up until I have the "cash to flash". However, sometimes cars don't share the same outlook !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I agree that cars don't always have the same outlook! I've never been in a situation where I could take my time buying a car as the previous one was always on it's last legs so to speak!
Antm if you NEED a car for work then yes of course it's a must for your work. Look around for the best rate you can possibly get and check out what penalties are due if you pay up early as they'd always an option if you're budgeting do finely post IVA
