These questions are very case specific and are really better discussed directly with your IP who will have a more detailed knowledge of your case. If you can justify the need for two cars, then this should be acceptable to your creditors.
As I have already posted you can re negotiate when in iva with current leasing /finance house they will probably decline you first but if you send all your IVA paper work they may well consider you a good customer be hopeful , dont worry these guys dont judge just want and try very hard to sort out the biz. x
On the slow safe road to success. Personal thanks to Melanie Giles Kallis Skippy Elv5 and all the other wonderful forum friends.
If a car (or two cars) are needed for the family unit and/or work and specific cogent reasons are given AND if your fiances are such that you can afford to keep paying the monthly installment being HP or a finance lease AND there is not too much equity in the vehicle(s) then your IP would probably agree to this continuing.
All matters (as Melanie said) are case specific. So discuss all aspects with your IP or proposed IP.
Last edited by David Mond on Tue Oct 07, 2008 8:22 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
