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Posted: Sun Sep 09, 2012 3:50 pm
by Donna.pd
Will i loose my car as i need it to get to work and pick up my children
Posted: Sun Sep 09, 2012 3:57 pm
by gavin
No
Posted: Sun Sep 09, 2012 4:04 pm
by Foggy
As long as it is a modest car (not an aston martin or such like) you will be allowed to keep it.
Posted: Mon Sep 10, 2012 1:26 am
by MelanieGiles
How much is your car worth, and are you considering proposing an IVA to your creditors?
Posted: Tue Sep 18, 2012 11:24 pm
by Knob100
Melanie, my car is not a high purchase but received a bank loan to finance it. I have so far paid 3/4 of the loan so far. However I am worried that creditors might request that I sell it off. Is this possible
Posted: Tue Sep 18, 2012 11:31 pm
by MelanieGiles
Very unlikely - but if the loan is unsecured then it will need to be included into the IVA.
Posted: Tue Sep 18, 2012 11:38 pm
by Knob100
Thanks Melanie. Yeah the loan is included in the iva but my fear is whether creditors could ask for it to be sold in case they feel that my outgoings are being eaten up by fuel, mot, and road tax?