How will my IVA be affected by having a car on finance ?

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Debbie.43

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Post by Debbie.43 » Thu Sep 18, 2014 5:19 pm
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Hi I am considering entering an IVA, I have a car on finance which I need, so I can work, how will the IVA effect this
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Adam Davies

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Post by Adam Davies » Thu Sep 18, 2014 5:41 pm
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Hi and welcome

Usually you can carry on paying the car HP as part of your usual living expenses

Few point to note though
1. VW finance may terminate your agreement and take back the car if you enter into an IVA
2. If you have a balloon payment at the end of your finance agreement you have to consider how you will finance this whilst still in an IVA

Regards
Andam Davies
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