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[tigers_gonads]

In life, you make your choices and live with the consequences good or bad.
Sometimes you make those choices through ignorance, bad advise, sometimes peer pressure or even out of desperation.
Tunnie, you had a pretty good life upto now and are doing well for yourself.  Seriously, I hope it continues for you and your young family bud 
I haven't got any beef with you BUT Al, as myself and probably quite a few on here has made a few choices over the years which have come back to bite us on the arse big style.
Whether it is money, crime or women we all opps up 
Its always easy to say "I told you so" after the fact 

The thing about this isn't the how or why, its what you do about it when you realise you have oppsed up 

[tunnie]

Trying to understand the background, as previous helpful suggestions were shot down with new information.

If someone offered advice face to face and response was rolling eyes up and saying, prey tell what use is that?

Not very nice is it?

So clearly deliberately antagonistic. That's one thing. But to do so in the face of a request for help is shocking. We all have a wind up now and then, but there a time and a place.

Yes he clearly is being.

Give the Merc back to the finance company, take the hit. Sooner that went back the better, you just have falling value of the car, making things worse.

Get 0% APR card(s), to pay off the outstanding amount left.

Always thought these car finance solutions were bad, too many restrictions and high APR rates.

Who, prey tell, is offering £8500 limits on 0% cards for people behind on one or more accounts?

Won't bother next time 

[chrisgixer]

Go on, keep digging.

[Lazydocker]

Trying to understand the background, as previous helpful suggestions were shot down with new information.

If someone offered advice face to face and response was rolling eyes up and saying, prey tell what use is that?

Not very nice is it?

So clearly deliberately antagonistic. That's one thing. But to do so in the face of a request for help is shocking. We all have a wind up now and then, but there a time and a place.

Yes he clearly is being.

Give the Merc back to the finance company, take the hit. Sooner that went back the better, you just have falling value of the car, making things worse.

Get 0% APR card(s), to pay off the outstanding amount left.

Always thought these car finance solutions were bad, too many restrictions and high APR rates.

Who, prey tell, is offering £8500 limits on 0% cards for people behind on one or more accounts?

Won't bother next time 

I'm late to the party here but I read your comments as antagonistic and arrogant too Like Chris (and Al) I've met you and am sure this is not how you meant them but........

As for how you get into this sort of mess... You have had a different kind of upbringing than quite a few of us. At 18 I had to be the breadwinner for my family and Al may well have been in the same boat. As you know he was a Taxi Driver and many licensing authorities have a maximum age for a vehicle... Some are as fussy as saying no older than 6 years! This necessitates new vehicle purchases which most people would need to arrange finance for.

The long and the short of it is that he is in a but of a pickle and needs help/advice (if available) and support, not constant criticism. 

[tunnie]

My first post on the subject was the suggestion of 0% card, or friends. With car going back ASAP. All helpful I thought?  But got the short reply and rolling eyes.

If you did that face to face, what would reaction be? Not positive.

What happened to. "Thanks for the idea, but because of X Y and Z that cannot be done."

Nope, got a shit reply. 

[05omegav6]

Ok, plain and simple just for Tunnie, have a read and see what pithy observations you can muster from this little lot

All numbers are pound sterling...

1996 3500 loan
1997 refinanced to 6000 loan. 5500 car Hpi. 4000 credit card
1998 refinance car and loan now 12000. Card now 6000.
1999 refinance into 21000 loan.
2000 2500 car Hpi.
2001 17500 marine mortgage
2002 card8000
2005 further 24000 loan 5400 car Hpi
2006 5400 Hpi settled via part ex, 12000 car Hpi.
2007 12000 Hpi settled less 2500 insurance write off. 12500 car Hpi.
2009 car Hpi Vt. Further 10000 loan
2010 24000 paid off
2011 Boat sold marine mortgage settled, card settled, one loan cleared and part of remaining loan cleared.
2012 remaining loan refinanced to 12000
2014 5000 credit card. 12500 car Hpi. Car Hpi settled. 17500 car hpi
2015 10000 car Hpi, being settled as lease purchase arrangement. Remaining Hpi liability 8500, term TBA, (from 17500).
9400 loan outstanding, 28 months left, but 1 month in arrears due to bank being oppsing cants. Two overdrafts... 1250 total and 5000 card.

 My total liability is 25150 ish, which cannot be refinanced. Ideally I would add my name and the liability to mothers mortgage, about 40%ltv. At current rates it could be paid off within ten years leaving me mortgage and debt free and guaranteeing a roof over mothers head for the rest of her days. But because my dad totally screwed her over, she would rather lose the house at the end of her current mortgage than secure the property.

So there you go, refinancing to pay bill/debt repayments is bad. Don't do it kids.

[omegod]

There is obviously a wide range of financial wellbeing on here and very occasionally it shows, a lot will have had good fortune along the way with profits from the housing market, well paid jobs and inheritances which may obscure their perception of how grullingly f'kin hard it can be to make ends meet and get out of any difficulties you get into. Me..i'm borasic lint due to a seperation a few years back and had to start  over from scratch and will be paying the price for a few years to come. Debt can be a killer for your self confidence so please tread very carefully when offering opinions on someone in a rut!

 

[05omegav6]

Whilst you're digesting my last post, Tunnie, along with everyone else, I do genuinely appreciate the help and advice being given.

Yes this is my predicament and mine alone, but I appreciate that others have been in the same boat and have the hindsight to offer suitable advice. This isn't a new situation and has been previously discussed elsewhere, so whilst it might seem like I have rubbished some suggestions, far from it, it's simply some suggestions have long since been ruled out, either by subsequent events or by not qualifying for them.

My options as I see them are to carry on paying each item in turn until each liability is settled, or wiping the slate clean via bankruptcy.

I would actually prefer to repay every penny and have the satisfaction of doing so, but my creditors may not see it that way, which could leave me but one option.

The advice given on my original thread has already been informative, helpful and above all reassuring ... As have the various pms that I have received.

It is in times of personal hardship that this forum really comes into its own, far beyond the cars, and inspite of various squabbles and bickering I am proud and humbledto be a part of this community, as should you all be

[Lazydocker]

FWIW, I would continue talking to the creditors firstly to try and avoid bankruptcy. Like you, I feel that my debt is mine to clear. I made the mistake of an IVA style agreement in the past (quite a while back) and it still bites me on the arse occasionally.

My situation changed dramatically when I went long term sick with my back. I lost a very good income and had to start again, having used most of my savings during my extended time off. Since then I have had to finance a new business venture, 4 vehicles (have to be under 5 years old so new was best option with the deal I had) and now have responsibility for several people's lives. If I were to go bankrupt it would be for a six figure sum at present There's no way I could have financed all of that without credit

[BazaJT]

If you speak to Citizens Advice they should be able to give you contact details of a company who work out with you your income/outgoings[as in household bills etc]then they get in touch with creditors to arrange smaller payments[which in some cases can also freeze interest]over a longer period.This service is free to you as the company get their money from your creditors for getting them some kind of repayments.

[The Sheriff]

If you speak to Citizens Advice they should be able to give you contact details of a company who work out with you your income/outgoings[as in household bills etc]then they get in touch with creditors to arrange smaller payments[which in some cases can also freeze interest]over a longer period.This service is free to you as the company get their money from your creditors for getting them some kind of repayments.

Be careful. There was a big stink over debt management companies not long ago. They arrange to pay your creditors for you, you pay the money to them and they pass it on. Only sometimes they don't or, if they do, they cream a large amount off in fees.

[Lazydocker]

If you speak to Citizens Advice they should be able to give you contact details of a company who work out with you your income/outgoings[as in household bills etc]then they get in touch with creditors to arrange smaller payments[which in some cases can also freeze interest]over a longer period.This service is free to you as the company get their money from your creditors for getting them some kind of repayments.

But an IVA (which is what you refer to) can be worse than bankruptcy as a solution so seek advice

[chrisgixer]

From experience, citizens advice is a pretty hopeless line, as they're so busy it's too late by the time they get back.

[BazaJT]

I hear what you're both saying,I do believe that this company are on the up though,and if you already have an IVA in place they can do nothing for you.In my case I finished up not actually needing to proceed with them as one of my older brothers came to my rescue and bailed me out.Just giving Al yet another possible avenue to explore and hopefully he'll get a satisfactory resolution in the very near future.

[ronnyd]

Has anyone mentioned Stepchange, they are one of the leading debt advice charities.