will iva cover the car finance

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allie

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Post by allie » Wed May 16, 2007 10:10 pm
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we have 2 car finance agreements outstanding and a bank loan our total debt is around 33,000 were interested in an iva will it cover the car finance and what will happen to the car we have?
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MelanieGiles

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Post by MelanieGiles » Wed May 16, 2007 10:46 pm
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Hi allie and a warm welcome to the forum

Are you saying that your only debts are two car finance agreements (presumably hire-purchase but do check the agreements to confirm) and one bank loan? If so, then you are probably unsuitable for an IVA - which only tend to be viable for four or more creditors.

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
Regards, Melanie Giles, Insolvency Practitioner
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