Can you get finance for car while in IVA ?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
 
 

Alan.22

User avatar
Posts: 7
Joined: Tue Oct 14, 2014 1:23 pm

Post by Alan.22 » Thu Jun 30, 2016 3:11 pm
can you get finance for car while in iva
 
 

ginger323232

User avatar
Posts: 544
Joined: Thu Jan 10, 2013 12:31 pm
Location:

Post by ginger323232 » Thu Jun 30, 2016 3:25 pm
You will need permission from your IVA company . There is only a few companies that will offer finance if in an IVA - but the interest is likely to be high. MoneyBarn is one company
 
 

wannabedj

User avatar
Posts: 327
Joined: Tue Mar 09, 2010 11:37 am
Location: United Kingdom

Post by wannabedj » Thu Jun 30, 2016 4:15 pm
As ginger said. I was accepted by Moneybarn but my IVA company said no because of the high interest payments. Mine was over 50%APR. If a car is essential to your job, you can ask for a payment break.
As I was close to the end on mine, I asked for them to accept payments to date as a full and final offer to which they accepted.
If Football was meant to have been played in the air then God would have put Grass in the Sky
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu Jun 30, 2016 4:18 pm
You could always see if a family member could sort out the purchase for you and you then pay them back at the end of the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”