will we lose car and van in an IVA?

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nikki.76

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Post by nikki.76 » Tue Aug 03, 2010 4:49 pm
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I currently own a car and my husband owns a van, both needed for work, will we lose these if we take an IVA?
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kallis3

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Post by kallis3 » Tue Aug 03, 2010 5:00 pm
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Hi,

As long as you can justify the need for the vehicle, and they are not of exceptionally high value, I think you may be ok.

One of the experts will advise further.
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
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Michael Peoples

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Post by Michael Peoples » Tue Aug 03, 2010 5:01 pm
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Jan as usual is completely correct. Even in bankruptcy similar rules apply and you would not necessarily lose either or both vehicles.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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