Posted: Thu Sep 02, 2010 10:52 am
can you sell a car when you are in an iva
Hi,
Yes you can, but I imagine any money made from it after you have possibly bought a cheaper one, would have to be paid across to the IVA.
www.iva.co.uk
The IVA community
http://www.iva.co.uk/forum/
can you sell a car when you are in an iva
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Posted: Thu Sep 02, 2010 11:13 am
Posted: Thu Sep 02, 2010 11:24 am
Hi and welcome!
Make sure that your car is not an asset included in the IVA first - it will say in your Statement of Affairs and your Proposal, and your Chairman's Report will list any important modifications.
Assuming it isn't, then Kallis3 is probably right. You need to inform your IP before you sell the car and keep any receipts for the sale and and purchase of a new one.
Make sure that your car is not an asset included in the IVA first - it will say in your Statement of Affairs and your Proposal, and your Chairman's Report will list any important modifications.
Assuming it isn't, then Kallis3 is probably right. You need to inform your IP before you sell the car and keep any receipts for the sale and and purchase of a new one.
Posted: Thu Sep 02, 2010 12:03 pm
We had to send off a copy of the registration document before our proposal.
Posted: Thu Sep 02, 2010 1:42 pm
Why do you need to sell your car, Jess?
Posted: Thu Sep 02, 2010 2:42 pm
We sold ours a few months ago - the reason being we wanted to change from an MPV to a smaller more efficient car. However, we didn't really make much money as what we were given for the one paid for the other one. x