can secured loan repayments be counted

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denisa

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Post by denisa » Thu Jul 12, 2007 2:17 pm
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can secured loan repayments be counted towards normal monthly expenses? And do we lose our car?
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Adam Davies

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Post by Adam Davies » Thu Jul 12, 2007 3:11 pm
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Hi
Yes your secured loans will be included in your expenditure and you will normally not lose your car in an IVA unless it is of very high value etc
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
Andam Davies
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Oliver

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Post by Oliver » Fri Jul 13, 2007 10:52 am
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Secured payments will be provided for in your monthly income and expenditure budget as failure to make these repayments will result in repossession of the security. You will be allowed to keep your car as long as it is reasonable for you to need one (i.e. you need to drive to work) and that the neither the value of the car or the monthly payment itself is unreasonably high.

Best Regards
Oliver

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