have to give car back but i need it for work

[gb1]

i bought a used car on credit a few months on i entered into a iva a year or so on the credit company phoned me saying i have to give the car back but i need the car to work

[Reviva UK]

H gb1

Have you maintained the HP payments after starting the IVA? It is quite normal for an IVA to allow the continuing of an HP agreement for a car because one needs it for work.

Invariably the return of the car would probably mean an additional debt which would be unhelpful.

Perhaps you could advise which finance company you are with and just to confirm is it HP secured against the car or is it a "MOTORLOAN" . there ae finance agreements designed to fund a car purchase but are not actually secured against the car.

If you find your finance docs we can advise

[Adam Davies]

Hi
If the car is on HP and you enter into an IVA the terms and conditions can state that the creditor can take the car back[even if you are upto date],most HP companies are happy for you to continue paying.
Do check your paperwork,as Paul advises,as many car finance agreements are actually personal loans and the creditor has no right to take back the goods
Regards