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Posted: **Mon Nov 03, 2008 9:28 pm**

Does fiance on a car count as an unsecured loan

Posted: **Mon Nov 03, 2008 9:32 pm**

Hi Neil and welcome to the forum

It depends whether the finance is secured against the asset or not. A hire purchase or conditional sale agreement would be secured, and therefore you would need to maintain the payments on the vehicle to avoid it being possessed by the finance company.

Alternatively if the loan was merely unsecured, then it can be included in any resultant insolvency.

Posted: **Mon Nov 03, 2008 9:33 pm**

It depends if it is a Hp agreement or not. If it is then you should be able to continue making your payments as long as there not too high. If it actually a loan then it will be included in the IVa.

Read through your agreement properly on it to find out if it is HP or a loan.