Getting a loan after a Personal Insolvency Arrangement

[queryonpia]

Evening all

This doesnt relate to myself but rather a relative and I will admit Im not well up in this area so just seeking some information (note not legal advice)

So to lay out the basic facts, the person is

-Came out of Bankruptcy about seven years ago
-Also has a personal insolvency arrangement
-Mortgage is restructured and mortgage provider has been approached to ask for further reduction
-Person is working two jobs to keep head above water

To commute to and from work, person needs a car as current car has just run up a lot of mileage. Car is costing a lot in repairs and is effectively knackered. Person needs a new car. Spoke with MABS who said that they should have a chat with bank, bank said if person applied for loan it would be a hard no. Person had credit union account closed due to bankruptcy.

Is there anywhere the person can go to get a car loan with a reasonable APR ? Loan would be for approx €9k to €11k.

Thank you for your time

 

[Gordon Gekko]

Sorry to be the bearer of bad news, but they’ve no chance.

Being blunt, the person is a serial defaulter and would be called a deadbeat in the US.

 

[queryonpia]

Dont apologise, I suspect that is the situation that we will face. I dont think there are any avenues at all but we will try!

 

[T McGibney]

They need:
1. A cheaper, more basic car.
2. A new job in a more accessible location.

 

[RichInSpirit]

Hi OP. Bluestone finance is the name I heard of before for less than perfect credit history car loans.