www.iva.co.uk

I am entering my third year of my iva and my payment is £562 per month I am allowed £435.00 to pay my car hp as my company pays me a car allowance to cover this as this was taken under an options scheme and there is a final payment of £6400 would I be allowed to take finance for this rather than taking out a new finance scheme for a new car if so which companies would be more likely to offer a loan to an Iva user,i have paid 3 years to honda finance without missing a payment and am completely up to date with my IVA

Hi and welcome.

I'm afraid I don't know the answer to that question, but I will bump this back up so one of the professional experts can see it and advise you.

Did your creditors modify the proposal so that your payments increase at any time once the HP has been cleared?

This is usually covered within the terms of your proposal - I assume that we are talking about a balloon payment on a car finance agreement - and most HP companies will usually agree to do this when approached. Were your IVA payments staggered at all to take account of the conclusion of the HP agreement?