If you are aware that an IVA might be looming, you could be deemed ( if push comes to shove ) to have acted unlawfully in taking credit knowing you will be unable to repay it. There is also the possibility of creditors in your DMP getting wind of it and pulling out of the current agreement.
It is a big gamble and only you can decide.
How will you be able to afford the repayments?
You run the risk of the car being repossessed.
I'm surprised you have been offered the credit - does the financier know you are in a DMP?
Who is onlineUsers browsing this forum: No registered users and 21 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, IVA.com Group Limited will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location