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ivaquestion
Guest
I'm in a bit of an awkward situation, wondering if anyone can see a good solution. (its a bit long... sorry!)
Basically backstory is living with my parents at the moment, both of them but they're getting a divorce and have been going through the whole thing... in the same house. Needless to say it led to some strained relationships, so not getting on too well with my dad. Anyway...
A few years ago they bought a new car (08) for me and my brother, we didn't expect want or demand any car, let alone a new one, but we were delighted.
Fast forward to around November last year, some liquidity trouble hit and he asked if my brother and I would take over the repayments (~€500 p/m between the two of us) so he signed over the direct debt to my account. I had just finished college and was giving grinds so was just able to cover it.
We found out about the half rule and decided to keep paying up until it was half paid off, then hand it back, no trouble. Now my brother and I now both have jobs and it was paid off half last month but my dad says he won't sign the letter to give the car back.
My brother just moved out last week with a friend (since he was expecting to have some free cash without the car), so he won't be using the car and can't afford payments and if I take over payments i'll pretty much be be reset to zero at the end of each month and can't afford to move out.
Now i'm left in the situation that I have direct debits coming out of my account. I've cancelled them at the bank to buy some time, but not yet with the finance company. I don't want to just stop paying and ruin my dad's and my credit ratings and cause loads of hassle, but I might have to since can't keep paying. I was delighted after finding the half rule but he won't sign off on it, usually justifying it with things like "ask your mother, she has plenty of money" or "blame your mother, I wanted to pay for your car".
Can anyone see any way out of this that I might be missing? Thanks!
Basically backstory is living with my parents at the moment, both of them but they're getting a divorce and have been going through the whole thing... in the same house. Needless to say it led to some strained relationships, so not getting on too well with my dad. Anyway...
A few years ago they bought a new car (08) for me and my brother, we didn't expect want or demand any car, let alone a new one, but we were delighted.
Fast forward to around November last year, some liquidity trouble hit and he asked if my brother and I would take over the repayments (~€500 p/m between the two of us) so he signed over the direct debt to my account. I had just finished college and was giving grinds so was just able to cover it.
We found out about the half rule and decided to keep paying up until it was half paid off, then hand it back, no trouble. Now my brother and I now both have jobs and it was paid off half last month but my dad says he won't sign the letter to give the car back.
My brother just moved out last week with a friend (since he was expecting to have some free cash without the car), so he won't be using the car and can't afford payments and if I take over payments i'll pretty much be be reset to zero at the end of each month and can't afford to move out.
Now i'm left in the situation that I have direct debits coming out of my account. I've cancelled them at the bank to buy some time, but not yet with the finance company. I don't want to just stop paying and ruin my dad's and my credit ratings and cause loads of hassle, but I might have to since can't keep paying. I was delighted after finding the half rule but he won't sign off on it, usually justifying it with things like "ask your mother, she has plenty of money" or "blame your mother, I wanted to pay for your car".
Can anyone see any way out of this that I might be missing? Thanks!