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vickster35
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by vickster35 » Sun Jan 17, 2010 4:44 pm
Hi ive been in an IVA for two years now, and have been looking at exchanging my car for one with a bigger boot due to impending baby, not many car sales want to exchange without extra cash which of course there isnt any, we have a car lease scheme at work, but would i be able to apply for such a thing with being in an IVA?
thanks

 

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kallis3
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by kallis3 » Sun Jan 17, 2010 5:22 pm
Hi, and congratulations on your impending new arrival.

Not sure about your car lease scheme through work.

Hopefully one of the experts will be along to advise.

 

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luluj
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by luluj » Sun Jan 17, 2010 5:30 pm
I had similar question some time ago and was told that I would have to show that the lease scheme was no more costly than your current vehicle allowances included in your IVA - once you can show this then all should be ok

 

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kallis3
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by kallis3 » Sun Jan 17, 2010 5:36 pm
You could try this site:

http://www.duncton.com/jsp/index.jsp

They are IVA sympathetic, but you do need a deposit. A payment break could take care of that though.

 

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vickster35
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by vickster35 » Sun Jan 17, 2010 6:00 pm
Thanks for your reply sadly cant have anymore payment breaks both of these have been reached due to bad luck, i had a look at that website and they are rather expensive the work one would be much more reasonable, i will have to have a look at my form again... i was a bit worried incase they look at your credit rating etc, as i obviously wouldnt get a lookin..
Thanks

 

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kallis3
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by kallis3 » Sun Jan 17, 2010 6:09 pm
Check with whoever does your car leasing at work to see if they do credit check.

 

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back on track
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by back on track » Sun Jan 17, 2010 6:53 pm
thats the problem with using duncton cars
they want a big deposit and of course the monthly payments(which are very reasonable)but being in an iva they are 90% out of reach for most of us.
some already who have a lease scheme car and are allowed the payments anyway would be fine.
is there already a procedure in an iva to allow for these payments if they are a must for work and therfore needed to pay anything back to the creditors and not have to go bankrupt in the proccess

 

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MelanieGiles
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by MelanieGiles » Sun Jan 17, 2010 7:02 pm
If your need is important there is no reason why your IP would unreasonably withold consent to allow you to take out a new lease agreement, however you and they would need to consider the effect this would have on your ability to continue fundimg payments at the current level, and this could give the need for a variation meeting.
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