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.
Who is onlineUsers browsing this forum: kallis3 and 20 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, IVA.com Group Limited will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location