www.iva.co.uk

Can IVA only apply to credit/store cards,
what about a car loan, could I carry on normal repayments with this, so as to keep the car, I am reliant on it to get to work

Generally all your unsecured debts goes into your IVA (supposed to deal with all ceditors evenly).

I think a lot depends on wether its HP(ie secured against the car) or a Loan, the size of the payments, the value of the car, and your level of need.

If its a normal loan then really it dont matter, it can just go into the general pot of who you owe money to. (There have been postings though of "loan" companys flagging vehciles with HPI flags wrongly thus making them difficult to sell. Just causes a bit of hassle).

Its if HP and too expensive, your IP would probably not want to put it forward.

If it aint got long to run, then once its finished, those payments may get added to the IVA pot. SO initially yu might not have loads to offer, but later it will increase.

I think also some HP policies may have clauses about what happens if you start an IVA. (like they might take the car back anyways)

SO in the end, it depends on you individual circumstnces, hence the I in IVA

Hey pj b, welcome to the forum, lots if forum members gave kept their car, as poorbuthappy says, I think it would depend on if it is on HP, you can afford to keep up the repayment and you have a need for the car, which most of us do. There is hope, hang in there and an expert or someone with experience of this will be along shortly to help you. You're in a great place for advice. Viki X