can i get hp on a car during an iva

[steve b]

can i get hp on a car during an iva

[tinytori]

I think they are someplaces who will let u, iam not sure the names of the company's but im sure someone will pot the details

[catullus]

Fairly unlikely because there is a restriction on borrowing in an IVA proposal and the new repayments would undermine the earlier calculations that had been done of your earnings and outgoings, to arrive at your IVA contribution.

Furthermore, unless you had a car to trade in where would you get the deposit from?

[tinytori]

im sure i have read a post on here about some car companies letting u have a car on HP while ur in a IVA i could be totally wrong like so if iam SORRY

[catullus]

You're probably right TT but I was just commenting on what most IVA proposals would say about new HP.

If you are in an IVA that is silent on new credit and the new repayments fit in to your I & E, then what you have said may be relevent so no need to be sorry!

[iva_squirrel]

Hi steve b,

It may be possible to take out HP during and IVA but you will need your supervisors permission.
It will depend on how that will affect your ability to continue to make payments into your IVA. If you can make both payments then your IP can call a variation meeting of creditors and try to get their agreement to you taking on the finance.

Regards,
Michelle P.

[iva experts]

Hi Steve,

Another option might be to borrow money from family/friends to buy a 'run around' car, then you could either pay them back when the IVA finishes as you will have disposable income OR you could possibly ask your I.P for a payment break to repay them back.

Either way you will definitley need to speak with your I.P to gain their advice and their permission.

Best Regards. IVA Experts

[Oliver]

It is possible but as Catullus states there are a number of reasons why this may be frowned upon.

If you describe the context of your situtation we can probably answer in more detail.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Adam Davies]

Hi
There may be a situation under an IVA where a car is needed.You may not have a car at present and a job offer further away necessitates the need for a car and the job offers a higher salary meaning that HP payments will not affect the IVA payments.
You will need permission off your IP and just as importantly you will need a finance company prepared to finance you.
Below are some companies that may help.

www.advantagefinance.co.uk

www.flexiblecarleasing.co.uk

www.duncton.com

regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp