WIll i lose my sofa?

[steviebluenose]

Hi,

I am about to enter into an IVA, and one of the items is an interest free credit arrangement for our sofa. We are half way through paying for it, and have £1000 outstanding.

Will the sofa company or the finance company come and take away my sofa?

Steve

[size5]

Hello and welcome.

I am sure your provider would not have included that debt in your proposal if there was any chance of that happening so I am sure that it is safe. However, to reassure yourself, why not give your provider a call, they won't mind in the slightest I assure you and should be more than happy to allay your fears and put your mind at rest.

Regards.

[steviebluenose]

Thanks.

Just contacted the IP, who confirmed that it could only be repossessed if I defaulted under an HP agreement or if it was secured against the house.

And if either of those 2 cases were true, then it would not form part of the IVA, and I could keep paying it .... and have somewhere to sit in the evenings .... to talk about the 'bad old days' when we couldnt sleep due to our financial situation .....

Steve

[kabby3]

Hi I didnt lose mine!!! Was through DFS (finance with HFC) they were horrible before IVA suggesting allsorts....but my sofa is here all comfy xx

Karen[:I]

[plasticdaft]

Does the bluenose in your name refer to the footie team you support??

ps,glad you have somewhere to sit at night!!

[size5]

If it DOES refer to his team, then maybe he is a City fan, which makes sundays game against Utd all the more interesting.

Regards

"MIkeyRedNose"

[Skippy]

I've just googled bluenose and it mentions Birmingham City. Come on Steve, put us out of our misery!

Size5, how do you reckon Utd will get on against the world's richest team?

[size5]

Well, they did the double over us last season so predictions are dangerous Skippy, but we are due to THUMP the bitters sooner or later, and as we have had 2 games on the trot without scoring I can honestly see a 3 goal margin "stroll in the park" victory for Utd.

World's richest team, World's emptiest trophy cabinet.

Regards.

[UpToMyNeck]

Bluenose can really refer to a supporter of any team that plays in blue. I am officially a bluenose for supporting Everton.

[johnh]

Thank goodness nobody plays in brown, then!!

[Maz]

Hi Stevie

I am sure you will be able to keep your sofa. One of my debts was with DFS and I got to keep the sofa as long as they are included in the IVA payments. Don't worry!

Maz

[aguise]

Hi stevie.
I worried about similar as I had a sofa on buy now pay three months later and hadnt actually made a payment, but it was include and there was no problem.

Ang xx

[MelanieGiles]

Even if the debt is one of hire purchase, it is extremely unlikely that the finance company will go to the efforts of repossessing second hand furniture, so I would be pretty confident that the sofa is safe.

[steviebluenose]

Well guess which Blue team is in loads of debt and cant find anyone to help them out ? How ironic ....

For those of you who dont also support Everton ...

Anyway thanks for the comments everyone. Looks like we will keep the sofa and the house.

Just sat down and gone through our allowances and we are optimistic we can do it .... not much for emergencies, but we will hive off enough to cover them hopefully.