A personal loan for a car was included in my IVA but it is unreliable now. Can I sell it ?

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Karen.ly

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Post by Karen.ly » Mon Apr 14, 2014 11:01 am
I have a car bought with a personnal loan, this is included in my iva but it is unrealiable now and want to know if possible to sell it or with it still show on a hpi check that i have a loan?
 
 

MelanieGiles

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Post by MelanieGiles » Mon Apr 14, 2014 11:08 am
Hi Karen and welcome to the forum

You can sell the vehicle, as the loan is not affixed to the asset. How will you manage to purchase a replacement car, and will this affect your ability to make your IVA contributions moving forward?
Regards, Melanie Giles, Insolvency Practitioner
 
 

Adam Davies

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Post by Adam Davies » Mon Apr 14, 2014 2:10 pm
Hi

If you sell and then purchase another car with the sale proceeds all should be fine

Regards
Andam Davies
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