Will my car on finance be affected if I get an IVA for my other debts?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1


User avatar
Posts: 1
Joined: Sun Sep 30, 2018 6:37 pm

Post by danny502 » Sun Sep 30, 2018 6:37 pm
I have HP finance with Santander. will it be affected if I get IVA with my other creditors?


User avatar
Forum Expert
Posts: 28587
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Sep 30, 2018 7:49 pm
danny502 wrote:
I have HP finance with Santander. will it be affected if I get IVA with my other creditors?
It depends on Santanders attitude to the IVA. Most HP finance agreements have an insolvency clause but many lenders do not operate it as long as payments are made, you will need to ask them. Assuming that they are OK with it then the HP payments will form part of your agreed allowances so you can keep up the payments.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Lisa Thomas

User avatar
Industry Expert
Posts: 7351
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Oct 01, 2018 8:53 am
First the creditors have to accept the payments as a reasonable expense when considering your offer of income contributions (assuming that applies to you)

Then, even if agreed it will be up to the HP Company whether or not to allow you to continue making the payments and keep the car.

You could have an anonymous telcon with the HP Co. to find out what their policy is on IVAs.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”