applied for an iva will i need to give car up?

[spo]

i have just applied for an iva with a company called dfh ltd i private rent at the moment and do not have any posessions apart from my car which i do use for work will i need to give this up

[MelanieGiles]

Hi spo and welcome to the forum

How much is your car worth? These are not usually taken from you in IVAs, but it will depend upon the value.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Oliver]

As long as you need your car to travel to and from work, and if it is of modest value, you will be likely to be able to keep it within an IVA.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva experts]

Hello Spo,

If your car is of high value (more than £6,000) it is likely that the creditors could ask you to sell the car and by a vehicle for less and the rest go into the IVA.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[Adam Davies]

Hi
I remember Mel telling me that she once got a proposal through for a couple with TWO Range Rovers !!
It really depends if you can justify the need for a car[s] of a high value.
As we have said before there is no difinitive answer in insolvency but the general rule is that a car will be allowed in an IVA
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp