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
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.
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.
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.