www.iva.co.uk

Hi

I'm looking at entering into and IVA as an option for my debt problem. However, I have a question about vehicles and I have a crappy car that is unreliable but I also have a motorcycle that I haven't declared as yet.

I was thinking of selling my bike to get a better 2nd hand car but would I be in trouble for this. Would it be deemed as disposing of assets?

Thanks for any advice you can give me.

Would really depend on the value of the bike, you can justify replacing the car if you belive it to be unreliable, as it could only end up costing you more in the long term.

If you bike is worth no more than say £2,000 then i would say it is fine, if the bike is worth more than that, i would propose you paid the excess into your IVA.

Hi,

Thanks for that, the bike is worth to the right person about £2400 as very low mileage for the year but got to find that right person who would pay that much. Do they do a DVLA check to see what vehicles you own?

Hi
No they[IP]don't,However it pays to be totally upfront and honest with your IP,they will not want you to have a car that wll not last the five years so will almost certainly agree that you should sell the bike and get a better car
Regards