My son is in serious financial trouble

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mike_s

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Post by mike_s » Wed May 14, 2008 6:55 pm
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My son is in serious financial trouble following the loss of his job. He now has two jobs and any spare time is taken up with earning money with a car valeting business which he is trying to get off the ground. An IVA would be the answer but would he loose his car as part of the deal?
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cfnc

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Post by cfnc » Wed May 14, 2008 7:11 pm
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He should be able to keep his car, i got to keep mine and it is woeth about £9000.

Kirsty
Kirsty
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MelanieGiles

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Post by MelanieGiles » Wed May 14, 2008 7:13 pm
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Hi Mike and welcome to the forum

How much is his car worth and is it financed by HP? Also how much does he owe to creditors and how much disposable income does he have?
Regards, Melanie Giles, Insolvency Practitioner
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