Car finance issue

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
User avatar
jamie107
Posts: 1
by jamie107 » Sun Jun 03, 2018 6:17 am
I had a IVA accepted with freeman jones in march which covers all my creditors but not my car finance which is with Blackhorse as I make the payments myself and not through the IVA then today I received a letter from Blackhorse saying that they are going to terminate my agreement on the 18th of June? I haven't missed any payments since having the IVA which like I said the car finance doesn't come into
User avatar
kallis3
Forum Expert
Posts: 73325
Contact
by kallis3 » Sun Jun 03, 2018 8:28 am
Unfortunately Black Horse are known for doing this - I imagine they trawl the register and have seen you have an IVA. You could try speaking to them but I don't know if it will be successful.
User avatar
Foggy
Forum Expert
Posts: 26616
Contact
by Foggy » Sun Jun 03, 2018 11:28 am
They have a term in their agreements allowing termination / repossession if you enter into an insolvency solution. They do not always act upon it (possibly when they don't notice) and might be persuaded otherwise. There might also be other limitations to their actions in your agreed terms, so dig out the paperwork and read the fine print very carefully.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 21 guests