Company Cars and IVA

[Hunter1]

I have a company car at the moment and will have to change it later in the year.

If I am in an IVA will I be able to change my current car for a bigger more expensive car (i.e. my net salary may reduce slightly)? I am only thinking of this because we have a dog now andreally need something bigger.

I presume as long as I don't ask to reduce my monthly payments to my creditors then this doesn't concern anyone?

Thanks

[MelanieGiles]

Hi Hunter

So long as this does not disturb your monthly payments, then there is no problem in obtaining a larger car. But this will cost you more money in taxable benefit which has to be funded from somewhere!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Hunter1]

Thanks Melanie and goodnight!

Can't believe the hours you work but it's greatly appreciated by all of us.