Will I lose my car if I do an IVA?

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matthew144

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Post by matthew144 » Fri Aug 09, 2019 2:12 pm
I have a car on finance with Volkswagen and are potentially going to apply for an Iva will this mean I lose my vehicle

Dan2991

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Post by Dan2991 » Fri Aug 09, 2019 2:49 pm
No if it isnt included as a creditor and has been included on your I&E. I have car on finance never been an issue.

kallis3

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Post by kallis3 » Fri Aug 09, 2019 3:20 pm
Depends on how VW look at it. Some car companies will ask for the car back. Perhaps an anonymous call to the finance company might be an idea?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Fri Aug 09, 2019 3:43 pm
Most of these finance agreements have an insolvency clause, but not all of the firms activate it .... a phone call might tell you, as Kallis suggests.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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