i have a car on finance as well as 15000 plus loan

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alan.th
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by alan.th » Sun Jan 17, 2010 9:08 pm
i have a car on finance as well as 15000 plus loan debt can i keep paying my car finance as normal and still qualify for an iva

 

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Adam Davies
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by Adam Davies » Sun Jan 17, 2010 9:12 pm
HI and welcome
If an IVA is agreed you can usually carry on with the car payments as long as it is under hire purchase or a lease.
Do you just have the one loan ? do you have any other unsecured debts ?
Regards

 

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alan.th
Posts: 3
by alan.th » Sun Jan 17, 2010 10:04 pm
my car is on a 5 year finance set payment is this classed as hp and we have 3 loans and one credit card my wife and me

 

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MelanieGiles
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by MelanieGiles » Sun Jan 17, 2010 10:32 pm
How much do you owe to other creditors Alan?

 

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alan.th
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by alan.th » Sun Jan 17, 2010 10:47 pm
between 20000 and 25000

 

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Adam Davies
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by Adam Davies » Sun Jan 17, 2010 11:23 pm
Hi
Well an IVA may be a suitable option for you. Speak with several companies/experts and consider all options open to you
Regards

 

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MelanieGiles
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by MelanieGiles » Mon Jan 18, 2010 12:05 am
I would say that almost certainly you will be allowed to continue to pay your car finance payments as part of an IVA, but as Andy rightly says seek professional advice on this at an early opportunity.

 

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Shining
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by Shining » Mon Jan 18, 2010 8:50 am
Why not take a look at www.iva.com for a list of companies and some reviews, contact 2 or 3 and talk through your options with them, you'll receive free, impartial advice.
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