CCJs, Defaults and IVA
Car Finance with CCJs, Defaults, or IVAs: Your Questions Answered
Financial Hiccups? You Can Still Drive Your Dream Car!
Life’s unpredictable, and a bumpy financial past shouldn’t keep you from car ownership. At Oasis Motor Finance, we collaborate with diverse lenders, so even if you’ve had a CCJ, defaulted on a payment, or entered an IVA, you’re not ruled out. Our lenders consider more than just credit scores, evaluating various factors to determine your eligibility.
What’s a CCJ and How Does It Affect Me?
A County Court Judgement (CCJ) is a legal marker against you if you’ve failed to repay a debt within the UK. It stays on your record for six years, even after you’ve cleared the debt, affecting your credit score and borrowing ability.
What Is a Default Notice?
Defaults happen when you miss multiple payments, leading to a default notice on your credit file. Issued after 3-6 months of missed payments, it can seriously impact your financial standing.
The Truth on IVAs
An Individual Voluntary Arrangement (IVA) lets you repay debts at a rate you can afford. If you’re in an active IVA, securing car finance can be trickier. You’ll need the green light from your Insolvency Practitioner and possibly more paperwork.
Bad Credit Plus CCJ? We’ve Got Options.
Our panel of lenders includes those willing to work with people who have bad credit, CCJs, defaults, or IVAs. Every financial story is unique, so we look at the broader picture, not just your credit score.
Why Choose Oasis Motor Finance for CCJ, Default or IVA Car Financing?
Our mission is straightforward: to improve lives through car finance. Whether it’s for daily commutes, school runs, or grocery hauls, we strive to find you the best finance deal. And yes, you’ll have a dedicated account manager to guide you every step of the way.