I have recently applied for, and been accepted, for an IVA. I understand that I will no looner be able to use credit and store cards during the IVA period. However, I have a car on HP which I will be carrying on paying for the next 2 years when the HP will be finished. If I wanted to then buy a new car on finance, would this be possible?
Anything is possible, but you may need to shop around for a suitable lender and you will need your IP's permission. Is there any particular reason why you feel you will need to replace your car in two years time?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.