www.iva.co.uk

Hi

We are currently a two car family, due to the cost of petrol, car insurance etc we are seriously considering getting rid of one car. My hubby works quite near to home but does have to travel to other depots and also needs to be on hand to watch our son at my parents house if they have any medical appointments - abt 12 miles from our house (they have loads due to my father being quite ill and being attacked really didn't help him!)

We want to get rid of the car and buy a 50cc scooter for him - we would get about £1500 to £1800 for the car but would need approx £1300 to £1400 for scooter, registration docs, safety equipment etc and any left over would be happy to give into our IVA. we would also then be able to give another £100 per month into the IVA as the bike would need nothing done for 3 years apart from a £15 year tax and MOT which is far lower than we are paying at mo. Does anybody think this would be acceptable. A pushbike is not a realistic idea because of the mileage he may have to travel.

Many thanks

If the car is an excluded asset the proceeds from the sale should be yours to spend as you wish. Do check with you IP tho.

I think your IP will go along with this idea, it's not like you want to do something to increase your outgoings. I think you may be being a bit optimistic in thinking you could hand over another £100 a month though, maybe £70 [;)][;)]

There should be no problem in replacing your car with a scooter - and if there is a saving on costs, depending upon the terms of your actual arrangement, you may only have to increase your payments by 50% of the saving.