Will I have to declare my old banger car if I setup an IVA ?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
Post Reply
 
 

Sam.sk

User avatar
Posts: 7
Joined: Wed Feb 20, 2013 7:50 am
Post by Sam.sk » Wed Feb 20, 2013 7:50 am
Quote
Will I have to declare my old banger car if I set up an iva? It's an old land rover which was given to me by my grandfather before his death.....it's only probably worth scrap value but to me it means the world! Do I have to declare it? Will the iva check with dvla?
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Wed Feb 20, 2013 8:02 am
Quote
Declare it but it probably wont be offered to creditors as its value will be too low.

Your car is safe.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
 
 

Kelly O

User avatar
Posts: 1089
Joined: Wed Mar 07, 2012 2:52 pm
Location: United Kingdom
Post by Kelly O » Wed Feb 20, 2013 10:28 am
Quote
Hi Sam.sk and welcome to the forum.

You will need to declare your car in an IVA but cars are exempt assets unless they have significant value so you have nothing to worry about :-)

All the best with your IVA
Regards Kelly Osadare Debt Advice Manager at www.pjgrecovery.com (host to www.melaniegiles.com.)

PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
Top
Post Reply
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”