If you cannot maintain the IVA it will fail and you will be back to square one with creditors. BR is not automatic, unless this has been already agreed in your terms. It is likely that a car on lease purchase will be repossessed any shortfall will then become an unsecured loan and be part of BR, if it happens. Other secured lenders will rely on their security in the same way, any shortfall also becoming unsecured debt.
You need to discuss options with your IP and keep them in the loop.
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