Im in my second year of my IVA I have a new job and a better income.
My new job is over 50 miles away from my home, but the problem is my car is on its last legs and was priced in as an assett within my IVA (value £1500)
So how does this work? I need a better car or I wont be able to get to my job.
I cant get finance and my old banger isnt worth much.
However my parents have said I can use their car but I would have to pay for the use of it or they will purchase a car keep it in their name and I can buy it on a monthly basis...
Question is, can I buy a car from them on a monthly basis in this way? or pay a fee PCM to use their car without upsetting my IVA and would this cost/rental be taken into consideration to lesson my profit earnt from my wages?
I doubt that your IVA was included in your IVA, as cars of such low value generally are not.
If you were to follow your parents' suggestion - which I feel is a good one - would this affect your ability to maintain your monthly contributions? If so, then it seems a good idea, but you should run it by your own IP for purpose of clarity.
