I started on an iva last month, I was wondering can I do a salary sacrifice scheme at work for a car. There is no credit checks or searches the payment come from my wages before I get it. All service, insurance, breakdown, tyres all covered in the payment I make. I only have to put fuel in, as everything else is covered in the payment I make. I have a car at the moment where I have to pay for mots, services and insurance, I need extensive work to be done on my car and it is 14 years old. As stated the salary sacrifice covers everything apart from fuel. I need a car for work and I suffer from lupus and if I have a flare up I need to have access to a car. I really don't know if I am aloud to take part in the scheme as of my iva. I really need some help
You need to discuss the pros and cons with your IP --- as you say, factoring in cheaper running / repair costs will, in part, offset the sacrifice. I have heard, through posters here, of sacrifice schemes being accpetable, but it will depend on individual circumstances and the relative costs.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk
I agree you should check with your IP first. Bear in mind any savings you make on your expenditure could result in an increase to any contributions you are due to pay into your IVA from your income (but probably worth it for the peace of mind etc)