Advice please help for my skint friend re car finance

kickingkay

hi everyone one of my dear friends has informed me how bad things are now i have given her all the information i have learnt along my journey, but one thing im not informed on is car finance
now she is in a bad way has missed 2 car payments already and 1 mortgage if she was to go for an iva for the rest of her debt would she lose the cars?
she is a child minder and therefore relies on hers people carrier for work, would she be better off selling the cars and paying off finance and buying a cheap one or will the finance company also accept her on a dmp,
the other thing is if she was to go on an IVA what wouold happen to her home and cars will she lose them or can it be done without losing either?
thankyou,
Klare

MrsTinks

don't know about the cars but I would put more priority on the mortgage - roof over head should surely matter more than transport regardless of whether she needs it for her childminding?

Sorry hope someone who knows more than me about this can help you in a sec

Emmzi

Cars plural?

They might let her keep one for work, but not two. But generally an older one, not a shiny new one.

Dr.Shoe_2

Does she have to run numbers of kids around as a DIRECT consequence as her job? Or does she just kind of do it but doesn't have to?

They might let her keep the people carrier if she would genuinely lose her job without it but she may need a letter from her boss.