Need a Valuation

[ClanWolf]

Hmmm. Network Q Glass' valuation produces:

Part-exchange Price:
Excellent condition: £1045
Average condition: £880
Below average condition: £695

But get the definitions:

Excellent Condition:
Ready for retail sale; mechanically perfect, paintwork unblemished for a vehicle under two years old, but may have slight stone damage on a vehicle over two years old or with high mileage. Interior should be immaculate. A full service history must be provided. All equipment fitted should be fully operational. Tyres should be new or nearly new, wheels and trims clean and undamaged. If appropriate, the MOT Certificate must be for a minimum of nine months.

Average Condition:
Some wear and tear to mechanical parts may be expected. Some minor repair might be required to the paintwork, although there should be no serious damage requiring replacement bodywork. The car will be of generally tidy appearance inside and out but some expenditure may be required for retail sale. A full service history should be provided. All equipment fitted should be fully operational. Tyres should not be more than half worn. Wheels and trims should be in good condition. If appropriate, the MOT Certificate must be for a minimum of six months.

Below Average Condition:
Requires mechanical repair or some repair to bodywork. The interior may be worn and seats may have marks. Some corrosion, damage or poorly repaired paintwork may need attention. The car may not have a full service history and would not be offered for retail sale without significant expenditure. Major items of equipment such as radios should be operational. Tyres should be legal with an even tread depth across the tyre. Wheels and trims may show evidence of some scuff marks. If appropriate, the MOT Certificate must be for a minimum of three months.

****
Blimey. So mine is in Below Average condition. Yeehah, just the ticket.

As for professional advice, yes, I am receiving it. Bankruptcy is absolutely the last option as it means I could no longer exercise power of attorney for my Mum, but I really have to get the basic research done so I have the answers.

[Terranoman]

As makeitfit says they cant take if only form of transport and its needed to get to work as this would then put you in a worse position.

I entered an IVA in 2008 worse thing I ever did. I brought myself out of it in the end but did not help me.

Got free advice in the end from a charity who gave spot on advice. dont pay lots of free advice.

Dont have a house anymore but debit free and can pay every bill that drops on the floor and will also answer the front door without worrying who it is.

SH!T happens but help is there and its free!

[makeitfit]

Also check out a DRO debt relief order. Not quite as bad as b/r and pretty straight forward too.

[extreme-4x4]

i hate reading this thread, as you all know.
over christmas i'd had enough and told the mortgage co to re possess the house.

got put straight through to a councelor on the phone , and answered a few questions . the main one being "why"

when i explained id had enough given up trying and i had tried hard for 14 months alone, faught in court for it doing what i can to save the house and made every effort to pay them on time every month. often not eating.
i felt i'd shown them more than reasonable commmitment , and they could have done more to help. ie interest only.

they looked at the account and gave me a chance - 12 months interest only

but everyone is in different boats in the current climate , some have other debts that have spiraled out of control .

all i do know is i couldnt give up on my kids - i won

i couldnt live in a bed sit - im still fighting , but was given a chance . im over the moon with my mortgage company . probably not what clan wants to hear.


one thought is the house. if its in neg equity they wont see any equity in it and leave it, as long as it stays neg over the time of your bankruptcy. you get to stay in the house and its given back to you on release

if its just you going bankrupt and not the wife or whoever else is on the mortgage , they get to buy your half from receiver , if its neg . its a pound plus 300 od fee's .

so you can go proper bankrupt and keep the house

want to know more pm me

[makeitfit]

What he said is pretty close, BUT there have been several changes to bankruptcy rules over the last few years. If you've not gone into official ness yet then dont until you've "prepared" your estate etc.
By all means give Colin a shout but please take prof. advice too as there's all sorts of help and cheats out there

[ClanWolf]

I will not be going bankrupt until all other options are exhausted or I am forced. Mum depends on me for financial defence and there are too many sharks out there.

However, I am getting free advice from the very excellent CCCS.

As for the mortgage etc etc, this situation is the culmination of three and a half years of fighting it and paying everything as best I can. All of my creditors have been excellent bar one, but they all rolled over when CCCS weighed in.

Quite frankly, I'm one bloke who's had a lot of fun and grief while burning through a marriage, four mortgages, multiple credit cards and personal loans. Ten years of dual income 80k+ and no kids will do that

Right now I'm better for the grief, it has reset some ethics and values I badly needed reality checking, along with giving me some deep understandings.

So, whichever way it goes, thanks for the advice folks. No-one is dying here, it's just an enforced but necessary change.