Can't make payment on a lease

B

Beatman91

Guest
Hopefully someone here knows the answer.

I took a 5 year lease on a Van a year and half ago, I was self employed and closed up last Novenmber. I've been paying the payments but I can't anymore, I've no work and this is really killing me right now.

Anyidea what happens if I stop paying? Do they just take it back? Do I get bad credit? Do the take me to court for the rest of the monney or just the differance?

Any advice appriciated.
 
Talk to them about it, a lot of self employed would be in the same position right now. They don't want it back as they can't sell vans etc now, so you may be able to come to a better arrangement with them. Take a payment break for a few months, etc..
 
I agree with Colm, don't bury your head in the sand, rise up and just speak to them. They'll have a lot of people in your situation, and the last thing they want to do is chase you for money.

It always might be a good idea to chat to someone at Money, Advice and Budgeting Service, it's free! http://www.mabs.ie/
 
Thanks guys I did both of those things, and I got a few solutions now.

Thanks for help.

BTW That mabs place gives really good advice.
 
You must log in or register to reply here.
Menu
Log in
Register