iva

she34pink

looking into a iva but hubby owes car on hp do they take this in iva or will the creditors want it back, had it since may10

To_be_Free

I was allowed to keep my car on my IVA but I only had 18 months left to pay and needed it, as I have to travel 250 miles too and from work each week. Have you read your HP agreement as they could take it back if you enter into an IVA or go bankrupt..

Moi_63

Many people keep and pay for cars during their IVAs. It will be factored into your income and expenditure if there are no issues regarding it.

doelani

We had 3 years left on out HP when weentered our IVA

We had to say why we needed to keep a car, becuase of husbands job and my ill mother who lived xxx miles away we needed a reliable car. Once the IHP was finsihed out IVA payments were increased by the payment of the car. This was laid out in IVAagreement.

Max_1066

The HP loan is regarded as a secured loan so it can't be included within the IVA. However, the monthly payment will go towards your I&E. Beware that when the HP finishes the amount you would have paid will be added to the IVA. This could be a real problem if you have a balloon payment at the end of the loan.

I had two cars on HP and was advised by the IP I had to get rid of one (which was a good idea anyway).