Would it be considered as still belonging to the Motor Finance and therefore has to remain outside my IVA?
Some finance companies will repossess if you declare yourself insolvent --- most have this written into their terms and conditions, but the majority do not action this as long as payments are met.
Lisa Thomas wrote:They should be included for £1 if the debt is covered by the value of the car - or more if there is a shortfall/negative equity that can be calculated.
Only as a potential debt if the loan is called in and there is a shortfall, surely. If this is secured on the vehicle it cannot be included as it is.
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