Would I have to sell my motor vehicle

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nic.m

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Post by nic.m » Wed Aug 22, 2007 7:55 am
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Would I have to sell my motor vehicle even though it is paid for and not on HP.
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Skippy

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Post by Skippy » Wed Aug 22, 2007 9:02 am
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Hi NIc M and welcome to the forum.

Providing it's not a really expensive car you will be able to keep it in an IVA.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/
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iva experts

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Post by iva experts » Wed Aug 22, 2007 9:48 am
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Welcome to the Forum Nic,

If your car is your primary source of transport then I wouldn't see a problem with this. The only worry would be if your car is worth alot of money, then creditors could ask you to sell it and downgrade to a cheaper car.

Best Regards. IVA Experts
Last edited by iva experts on Wed Aug 22, 2007 10:00 am, edited 1 time in total.
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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MelanieGiles

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Post by MelanieGiles » Wed Aug 22, 2007 10:12 am
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As the other posters have said, creditors very rarely ask for cars to be sold, as you need them to get to and from work to be able to earn the money and pay the IVA contributions! They also need to be of sufficient quality to last for the duration of the IVA - as there is little room to buy a new one within your expenditure budget.

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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iva_squirrel

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Post by iva_squirrel » Wed Aug 22, 2007 10:27 am
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Hi nic.m and welcome,

I think you wont have a problem with keeping your car as long as its not an expensive car.

Regards,
Michelle P.
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Oliver

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Post by Oliver » Wed Aug 22, 2007 11:49 am
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How much is the car worth?

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Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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