Would IVA include my car finance (HP)?

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Post by Matous » Tue May 25, 2010 5:02 pm
I have a car on financing and the monthly repayments are always up to date. If I went the IVA route for my unsecured debt, would this include my car finance (HP)?


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Post by MelanieGiles » Tue May 25, 2010 11:25 pm
If the car is financed via a HP agreement, then you will continue to make your ongoing repayments to the loan until it has concluded, at which time if the IVA is still in place, you will increase your IVA payments in direct proportion.

Is there a balloon payment at the end of the agreement to pay?
Regards, Melanie Giles, Insolvency Practitioner
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