Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • cheeseoatcake
    • By cheeseoatcake 10th Jan 19, 6:22 PM
    • 28Posts
    • 6Thanks
    cheeseoatcake
    IVA Change of circumstances
    • #1
    • 10th Jan 19, 6:22 PM
    IVA Change of circumstances 10th Jan 19 at 6:22 PM
    Hi all,
    Further to my other post "iva update"

    I have been looking after my father for the last 2 yrs whilst working part time. He has been helping me out financially but in the last few weeks he has gone into care for a assessment of his needs and capabilities. It looks unlikely he will go back home.

    This will impact me in two ways firstly any financial help will go and also I have the use of his motability car to use to and from my workplace and in conjunction with caring for my dad. This car will go back in the next month or so. Leaving me in a bit of a pickle.

    Myself and my wife both work at opposite ends of the city, times clash and I have to get to work by 6.30am. Neither of us could get a direct bus to work.
    A second car is needed.

    As mentioned we're in month 54 awaiting re-mortgage advise.
    My wife isn't named on the iva and had some money gifted to her a couple of years ago. She already owns are family car and his the main driver.
    Could there be possible questions if we were to get a second car for my use. Obviously we would have to show second car costs in our next review, could this cause any problems?

    Also should I notify my IP straight away of the changes and ask about a second car?


    Kind regards and thanks for any help
    Last edited by cheeseoatcake; 10-01-2019 at 6:24 PM. Reason: missed out something
Page 1
    • Mermaid89
    • By Mermaid89 10th Jan 19, 7:44 PM
    • 99 Posts
    • 53 Thanks
    Mermaid89
    • #2
    • 10th Jan 19, 7:44 PM
    • #2
    • 10th Jan 19, 7:44 PM
    Not sure you needed a second thread, however please always inform your IP of a change in circumstances as your affordability will be a domino for other aspects of your Arrangement, such as your equity review. You will need to illustrate to your IP why you need the second car, however that being said will it be your wife purchasing this? Was your IVA company aware of the third party help from your father and was this included in your income and expenditure/statement of affairs?
    • cheeseoatcake
    • By cheeseoatcake 10th Jan 19, 9:39 PM
    • 28 Posts
    • 6 Thanks
    cheeseoatcake
    • #3
    • 10th Jan 19, 9:39 PM
    • #3
    • 10th Jan 19, 9:39 PM
    Hi, sorry about the second thread.


    Yes she would be purchasing the car.
    Yes the IP have been informed of help from my father as I had to finish work due to ill health. Now working again but not in the same capacity as before.

    Kind regards
    • TubbyDown
    • By TubbyDown 11th Jan 19, 10:06 AM
    • 59 Posts
    • 45 Thanks
    TubbyDown
    • #4
    • 11th Jan 19, 10:06 AM
    • #4
    • 11th Jan 19, 10:06 AM
    Just out of interest, what was their response?
    • cheeseoatcake
    • By cheeseoatcake 11th Jan 19, 1:36 PM
    • 28 Posts
    • 6 Thanks
    cheeseoatcake
    • #5
    • 11th Jan 19, 1:36 PM
    • #5
    • 11th Jan 19, 1:36 PM
    Just out of interest, what was their response?
    Originally posted by TubbyDown
    In respect to what?
    • Mermaid89
    • By Mermaid89 11th Jan 19, 3:05 PM
    • 99 Posts
    • 53 Thanks
    Mermaid89
    • #6
    • 11th Jan 19, 3:05 PM
    • #6
    • 11th Jan 19, 3:05 PM
    Ultimately if it is your wife purchasing the car it shouldn't be a problem. The IP will be more bothered about your affordability going forward so ask for a change in circumstances review
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

677Posts Today

6,036Users online

Martin's Twitter