What will happen if I go for salary sacrifice lease car ?

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

Mark.29

User avatar
Posts: 30
Joined: Mon Jun 23, 2014 3:55 pm

Post by Mark.29 » Wed Sep 17, 2014 9:26 am
Hi hopefully you experts can help me, basically im just starting yr 4 and want to know what will happen if i go for a salary sacrifice lease car through work (no credit checks required) without telling payplan?
Thanks alot in advance
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:

Post by Adam Davies » Wed Sep 17, 2014 9:30 am
Hi and welcome

Let Payplan know and fill out a fresh income and expenditure form to determine a new disposable income

Regards
Andam Davies
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Wed Sep 17, 2014 9:40 am
The payment will be deeducted from your wages but even if it was not you need to inform Payplan. No reason for them to object as you need a vehicle.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

darcus30

User avatar
Posts: 54
Joined: Fri Sep 20, 2013 12:27 pm
Location:

Post by darcus30 » Sat Sep 20, 2014 8:37 am
Thanks for your response. I always get really worked up prior to ringing payplan. I have gone ahead with the lease car order without informing them. Can this cause the iva to fail.
Regards from a very worried man
 
 

Radish

User avatar
Posts: 445
Joined: Sat Sep 15, 2012 2:19 pm
Location: United Kingdom

Post by Radish » Sat Sep 20, 2014 9:37 am
I did a salary sacrafice through work - for a laptop for my son for Christmas last year I could not afford a main present. I had 4 payments left on my IVA. This was deducted from my wages - it made no difference to my IVA. If I wanted to deduct it from my monthly figure - I was told I would have to cap it on the end with an extra payment. I decided to just carry on as normal and take the loss myself. Im sure a car is different and necessary but wanted to share my experience with Salary sacrifice.
IVA complete March 2014 after 6 years.
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom

Post by plasticdaft » Sun Sep 21, 2014 8:33 am
Will payplan not notice a drop in your take home pay?

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”