rossiewoman
Registered User
- Messages
- 32
this is my first post here.
i am at my wits end and any advice would be very well received
i bought a new car through a garage on hire purchase in summer 2007. the deal was i was to pay 600 per month for 2 years and then a bubble payment of 20,000 euro at the end of the 2 years. i never missed a payment
hindsight is wonderful! unfortunately during those 2 years we had much turmoil and stress.my husband who had been self employed has had no work for the last 1.5 years and gets no financial support, so i am the main breadwinner for the household.
i explained to the bank in summer 2009 that i could not meet the balloon payment and MABS got involved on my behalf. eventually, and after being subjected to awful aggressive phonecalls, they agreed to accept 300 euro per month for 1 year.i never missed a payment during the year.
when the year came to an end, the aggression started again. i explained that i could not make higher payments. they wanted 580 euro per month. i said that paying 300 was already a struggle
they told me that they would take the car off me as they would have no problem selling it. they wanted an increase to 400 euro per month so even though we are struggling to put food on the table here and keep all bills paid, i agreed.
i have made the 1st payment of 400 this month. i got a phonecall from a very unpleasant young man today who told me that this payment will be acceptable for 6 months and then it will be increased to 650 per month as they will not accept any more reschedules.
i just dont know what to do. our credit rating is bad due to previous mortgage arrears that we have now cleared. i am so upset. i know i have until next march to work something out but i am so sick of all of this. if i sold the car i would get less than what i still owe on it
please, if anyone has any advice will you pass it on
thanks
i am at my wits end and any advice would be very well received
i bought a new car through a garage on hire purchase in summer 2007. the deal was i was to pay 600 per month for 2 years and then a bubble payment of 20,000 euro at the end of the 2 years. i never missed a payment
hindsight is wonderful! unfortunately during those 2 years we had much turmoil and stress.my husband who had been self employed has had no work for the last 1.5 years and gets no financial support, so i am the main breadwinner for the household.
i explained to the bank in summer 2009 that i could not meet the balloon payment and MABS got involved on my behalf. eventually, and after being subjected to awful aggressive phonecalls, they agreed to accept 300 euro per month for 1 year.i never missed a payment during the year.
when the year came to an end, the aggression started again. i explained that i could not make higher payments. they wanted 580 euro per month. i said that paying 300 was already a struggle
they told me that they would take the car off me as they would have no problem selling it. they wanted an increase to 400 euro per month so even though we are struggling to put food on the table here and keep all bills paid, i agreed.
i have made the 1st payment of 400 this month. i got a phonecall from a very unpleasant young man today who told me that this payment will be acceptable for 6 months and then it will be increased to 650 per month as they will not accept any more reschedules.
i just dont know what to do. our credit rating is bad due to previous mortgage arrears that we have now cleared. i am so upset. i know i have until next march to work something out but i am so sick of all of this. if i sold the car i would get less than what i still owe on it
please, if anyone has any advice will you pass it on
thanks