Hi I am new this forum although over the past few months I have read a large number of the posts so I thought this may be a good place to start to try and get a decent answer for a change !!
I am currently in an IVA (Since Jan 10) with Payplan who to be honest I cannot fault as they have been superb with me
I am looking to change car as I have an American Import which is 6 years old and new parts are getting quite costly to replace
I need a car as I work shift work and my work is over 30 miles away from my home and sometimes public transport cannot get me there
Basically my main issue is my car payment has been included into my IVA ?? Can I try and find car finance somehow and then give my old car back to the finance company therefore reducing the amount that I owe into the IVA??
Most posts that I have read do state that there car finance is seperate from there IVA however mine is part of my monthly payment
MY IP has stated that I have to put my request in writing so there is no gaurentee that they will even let me try and get a new car but any advice would be great
It sounds like the car was bought with an unsecured loan and is actually owned outright. It may be possible to sell the vehicle and buy a car for the same price which is more economical to run. If you need to add a bit extra your IP may sanction a short payment break to meet the difference and you could address the arrears from the future savings.