my car

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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 8:50 pm
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my parents got me a car on finance before there iva was put in place i was just woundering because that the debt for the car was enterd into the iva am i able to sell the car? or do i have to keep it for the next 4 years
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james.c

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Post by james.c » Tue Feb 05, 2008 8:51 pm
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Was it finance or a loan
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 8:55 pm
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i think it was a loan from the black horse
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 8:56 pm
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the car company i got the car off they sent us the forms from the black horse
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Adam Davies

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Post by Adam Davies » Tue Feb 05, 2008 8:58 pm
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Hi
I believe Blackhorse are secured hire purchase loans and would not be part of your parents IVA so NO you will be unable to sell the car without settling the debt in full.I presume that you are paying the finance repayments for the car ?
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Andam Davies
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james.c

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Post by james.c » Tue Feb 05, 2008 8:59 pm
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I bought a sofa from DFS and got finance from black horse, the deal was pay nothing for 12 months, in fact after 11 months i went in to an IVA still not paid a penny out of the £1250 and they never asked for the sofa back.
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 9:04 pm
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they didnt ask for the car back when my parents iva went through

so from what i can gather i carnt sell the car untill there iva has finnished?
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 9:08 pm
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sory for being a bit thick but all this is new to me
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 9:17 pm
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andydavie wrote:


NO you will be unable to sell the car without settling the debt in full.I presume that you are paying the finance repayments for the car ?
it was entered into there iva because the hp was taken out in my farthers name and i paid the installments monthly but when the iva was accepted he received a letter of black horse telling him to stop paying it as they were receiveing money for the car off the company that set up his iva
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Adam Davies

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Post by Adam Davies » Tue Feb 05, 2008 9:22 pm
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Hi
So is your father paying the instalments ?
If not then it must be a personal loan that was included in the IVA therefore you are free to sell the car.
The easiest thing to do is to pay and have a HPI check done on the vehicle to see if there is any outstanding finance registered on the car
Regards
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Andam Davies
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 9:23 pm
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ok thanks
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gazhowman

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Post by gazhowman » Tue Feb 05, 2008 9:41 pm
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just did a hpi check and it said this: VRM currently recorded as having outstanding finance

so i take it im stuck with it till there iva has finnished
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