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Posted: Fri Jun 22, 2007 6:37 am
by shell
what kind of debts do you include? is hire purchase for a car included or not?
Posted: Fri Jun 22, 2007 7:02 am
by Welsh Boy
Hello shell
If you meaning what debts re IVA I think you would be talking about unsecured debt not debt secured against your vehicle or property. Tony
Posted: Fri Jun 22, 2007 6:33 pm
by MelanieGiles
Hi shell
An IVA only takes account of unsecured creditors, so your car hire purchase agreement - which is secured against the value of the car - cannot be included and you will need to maintain ongoing payments throughout the IVA.
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