How much is the old wagon worth in its current state ? If worth next to nothing, then it will certainly be excuded from the IVA, if it has a significant value, say above a couple of thousand pounds, then probably it would be an asset of the IVA, but the IVa could be structured that a third party could inject funds equivalent to the value of the asset or alternatively the term be extended so that you make additional payments equivalent at the end to the value of the asset.
I think it would be reasonable to exclude the pony as it costs you next to nothing and as you say there are welfare issues. Plenty of people enter into IVAs with costs for pets shown on their budgets which are not disallowed by the creditors.
Philip Beck -
www.freeivaadvice.co.uk
Licensed Insolvency Practitioner and IVA specialist
