Tweet
Hi.My son took his car to Spain and the clutch went, not totally but no use underpower, no money to repair it and the garages are very expensive anyway. He hasreceived a Notice of Termination because he is 3 months late. He is in an IVAwhich has arrears and he has a few other debts like O2 and Axa insurance, thiscar finance thing will finish him off, bankruptcy is his only option now. Myquestion is will the fact that the vehicle is in Spain make any differenceother than adding to the cost of recovery? I know it is a breach of contract totake the car to Europe for more than 14 days, so much for Freedom of Movement!He is £750 away from paying 50% of the contract but why throw good money afterbad? I am losing my patience..and my sanity
Loading...
-
Tags: None -
Re: VT - Son in IVA and in Spain...
Hello,
I'm not the best person to talk about IVA's so i've tagged [MENTION=48934]Debt Camel[/MENTION] to help out.
Most lenders will allow some form of cover in Europe usually up to 30 days, though you've mentioned 14 days so it seems as though you are already aware of this. How long was your son out in Spain, or is he still out there? He should have really thought about European breakdown cover, some cost as little as £10 and can cover you for the return of vehicles plus any garage repairs up to a certain amount provided it is not beyond economical repair.
If you are saying that he has received a notice of termination but has not decided to VT before this point, then he will be liable for remaining balance under the agreement. This would usually be set off against the proceeds from the sale of the vehicle but, given that it is in Spain it would be prudent for the car to be sold off there (if that is legal to do so) than it would cost tugging it back here and in which case those proceeds would be offset against the outstanding balance (after any exchange rate conversion from Euros to Pounds). If it isn't legal to sell the vehicle over there then my instinct would say that he is also liable for the costs of recovering and bringing back to the UK as he won't be afforded the protection under section 100 of the CCa as he did not VT in time.
I've tagged [MENTION=39710]des8[/MENTION] as he may be able to help on the insurance / selling of the vehicle abroad issue.If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
LEGAL DISCLAIMER
Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice. -
Re: VT - Son in IVA and in Spain...
Thanks R0bComment
-
Re: VT - Son in IVA and in Spain...
I don't feel able to say anything useful about the car question.Originally posted by totalripoff View Post
His IVA, how long has it been going? is he renting or buying? Why did he opt for an IVA not bankruptcy? Do you know what he is paying per month?
These other debts - were they incurred after his IVA started?
Why was he in Spain with the car - was it for work?Comment
-
Re: VT - Son in IVA and in Spain...
IVA started Nov 2015, not paid for about 6 months. No idea why IP recommended IVA, I told him to go BR. Contribution about £130 per month.
Yes, other debts after IVA started, car included. The HP was in existence before IVA.
He was working on contracts in the UK, the firm went bump owing him a substantial sum, he was really cut up about it and went to Spain with a 'friend' to find work but all he has are cash jobs here and there.
No assets whatsoever, I still think he should go BR and save all concerned the hassle.Comment
-
Re: VT - Son in IVA and in Spain...
For starters he cannot legally scrap the car in Spain, as only Spanish registered cars can be scrapped out there.
Because of the problems with reregistering UK cars in Spain it is difficult to find a buyer and so if a buyer is found, the price is likely to be well below UK market value.
If AXA are his car insurers, have they yet cancelled the policy?
If so he should declare the vehicle sorned as otherwise he will have DVLA chasing him as well.Comment
-
Re: VT - Son in IVA and in Spain...
Thanks des8. I'm so fed up with it all.Comment
Comment