been in an iva for 3yrs can i buy a car

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kidd

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Post by kidd » Mon Jan 29, 2007 10:42 pm
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I have been in an iva for 3yrs ,can i buy a car whilst still in my iva
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MelanieGiles

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Post by MelanieGiles » Mon Jan 29, 2007 10:45 pm
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Hi harden

Technically the answer to that is yes - providing that the purchase does not affect your ability to fund your IVA payments, and it is essential for you to replace an existing car, or your needs have changed sufficiently to now buy a car.

How do you intend to fund the purchase? If you are going to seek any form of credit, then you will need your Supervisor's express permission, and you may find it difficult to find finance whilst you are in an IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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