It will depend on your car finance company as to whether they will withdraw the facility or not -- most have insolvenct clauses in their terms, but not all trigger them, as long as the loan / finance is being serviced correctly. The creditors will also have to be happy that the car in question is reasonable for your situation --- they might well be happy with a Ford Focus -- but would ask you to get rid of an Aston Martin !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
