would my car be repossessed ?

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joanne_b

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Post by joanne_b » Thu Aug 07, 2008 11:26 pm
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I am looking into entering an IVA but I recently purchased a new car on finance. I need it as I am self-employed and wondered would it be untouched or would the car be repossessed or the HP added to the creditors?
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MelanieGiles

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Post by MelanieGiles » Thu Aug 07, 2008 11:28 pm
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Hi joanne and welcome to the forum

If the car is of relatively modest value, and the HP payments are reasonable, there is every chance that you will be able to keep the car.

Have you sought advice from an IP yet, and if so what did they tell you about this?
Regards, Melanie Giles, Insolvency Practitioner
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