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Posted: Mon Dec 20, 2010 6:42 pm
by tjipj
We are entering an IVA and have a car each, valued at £5,000 each. Our IVA paperwork stated that we do not wish to include these in our IVA as we need them to commute to work.
Can our creditors make us sell them?
Many thanks for any answers.
Posted: Mon Dec 20, 2010 7:07 pm
by Shining
Hi tjipj and welcome to the forum, I personally think it's important to have a reliable car for the duration of the IVA as there may be less maintenance costs etc.,
I'm not sure of an IP's view but will keep this bumped up for a better positioned person to comment on. x
Posted: Mon Dec 20, 2010 10:33 pm
by kallis3
I think you may be ok. We had a car valued at £8k and were allowed to keep it.
Posted: Mon Dec 20, 2010 11:11 pm
by MelanieGiles
The answer to your question is yes - but you also have to agree to the sale for that to be made binding. I don't feel that your cars are of excessive value, and you should be fine on the day.