just arranging iva

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1


User avatar
Posts: 2
Joined: Fri Aug 13, 2010 2:39 pm

Post by heaton » Fri Aug 13, 2010 2:44 pm

i have a query regarding an iva which i am about to set up with cccsva.

I have got my appointment with them next week but when i spoke to someone there today and queried whether my car would be okay she said they have a limit of allowing a car worth £5000 to not be sold. My problem is that my 6 yr old car is valued between £4500 - £5500 depending on which site you use to get it valued and just worried now we will be forced to sell this as didnt want to as wanted this to last for the time the iva runs

any help would be gratefully appreciated

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm

Post by Michael Peoples » Fri Aug 13, 2010 3:44 pm
It might be worth getting a second opinion and your car should be exempted in an IVA. It is not for your IP to decide as it is your proposal and ultimately creditors can accept it, reject it or change it.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com


User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am

Post by MelanieGiles » Sat Aug 14, 2010 12:09 am
There is no such thing as monetory limits for cars in an IVA - and you should not be persuaded otherwise. As Michael says your creditors are judge and jury and not the IP firm - and I have hundreds of clients who own cars in excess of £5,000.
Regards, Melanie Giles, Insolvency Practitioner


User avatar
Posts: 27020
Joined: Thu Sep 20, 2007 8:57 am

Post by Shining » Sat Aug 14, 2010 9:18 am
Why not talk to a couple of other companies, if you decide you'd like to take further impartial free advice you could take a look at www.iva.com for a list of companies and some reviews of these, it costs nothing but a bit of your time but will give you a couple of other opinions to consider. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”