As the car finance is a secured creditor, you will need to keep making the repayments as part of the IVA and they should be included in your income and expenditure statement which drives the amount of disposable income you have available.
Maybe you ought to consider bankruptcy proceedings as you have problems in managing a budget? Although there are no restrictions on the number of IVAs you can put forward, common sense prevails and your new creditors will need to be made aware that this is second time around for you. Notwithstanding this, they will hopefully take a commercial decision on whether your offer represents a better return for them than in bankruptcy when asked to support.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
