Car finance and my IVA

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clare733
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by clare733 » Sat Aug 25, 2018 7:14 am
So I'm not including my car finance in my IVA, but will this IVA have an impact on me getting any sort of finance once the agreement is finished, if I decided to change my car
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Foggy
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by Foggy » Sat Aug 25, 2018 7:20 am
For 6 years from the start of the IVA the chances of getting car finance (or much else) are extremely low. During the term of the IVA it is prohibited.
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MerlinL14
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by MerlinL14 » Sat Aug 25, 2018 4:59 pm
Are you not including the finance with the blessing of your IP or are you just not going to mention it? There may be T&C's in your finance agreement that precludes you from being insolvent. You need to check this. If this is the case then your finance company can terminate the agreement and require you to surrender the car and then you may have to pay a penalty amount!
You have less than no chance of getting further finance for a car once all the paperwork has been signed off and the IVA starts.
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kallis3
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by kallis3 » Sat Aug 25, 2018 9:37 pm
If it has been excluded as long as payments will be included once finance is completed, I don't see a problem
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