www.iva.co.uk

i'm currently in an iva, but i have a huge problem as i im urgent need of a car, but as all my money goes to rent/iva is there anyway i can ask the iva company to get a finance or somethin like that so i can get a car??

Hi wayn and welcome to the forum

That will depend upon the level of ongoing finance payment you need to pay, and how that will affect your ability to continue to make payments into your Iva. If it is feasible to do both, then your Supervisor can call a variation meeting of creditors to gain their agreement to you taking on the finance. Do you have any family members who could help you with financing a cheap car - and could you explain why there is an urgent need for a vehicle? Has your existing car broken down.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi, I think that car leasing is better than car buying because it has lots of benefits. I hired two cars from http://www.frontierleasing.co.uk/ and I am getting very service without any problem. You can find so many car leasing website on the net but its one best for car hiring among of them.
Hope this will help you out!
All the best!

It will be almost 2 years since this was posted, I am in an IVA the same thing happened to me last year had to get a new car to make the 32 mile journey to work each day.

Fortunately my Motherinlaw was able to help me out with a small loan, which initially helped me out, since then I have had nothing but trouble and spent almost 1k on it which only cost 895 previously. The Garage has closed down and still there are problems - I don't really want to ask my Mother in law again so I ahve approached my IP for permission to apply for further credit.

No decision as yet but I made some enquiries with one of these Guaranteed Credit Companies, I only wanted to borrow upto 2,500.

Outrageous but the deal they came back with was the following;

1,500 deposit in cash or part x
7,000 loan
4 year term
Apr 30%
The car purchased had to be less than 4 years old, value of 7K and to have 45k on the clock.

Disgusting really - obviously with this quote I will not proceed - but I do have a credit card that is 0 balance and not included in my IVA. This is where I have approached my IP to ask if I can use this to purchase a vehicle. If they say no, it might be Public Transport or Cycling or approach mother in law again.

I think though the point I am making is it is not always a good move to but a cheap run around it can cost you more in the long run.

Like my scenario and now I might be stuck, but my family aren't aware of my IVA and that is the way I want to keep it

how come you still have credit card ? not supposed to have any credit whilst in iva .i can sympathise re car thou , ours is sounding well ropey at the mo , im a district nurse , i can not work without a car ! my family also no nothing about our iva . good luck with your car venture thou, hope it works out for you

hey wayn good luck x
ps be careful with the credit card-like molly said not really a great idea be careful.

I can't see your IP being happy with you using a credit card, especially to finance a car. You should not even be thinking of that.

Try these people for a car, they are sympathetic to people in IVA's.

http://www.duncton.com/jsp/index.jsp

The other thing you need to think of is - how are you going to fund payments either to a credit card or car finance and maintain your IVA payments.

If you use the credit card you could end up in breach of your IVA. Can you not ask your IP for a couple of months payment break to enable you to buy a car?