Car Loan Needed

[kfletcher]

I Have an IVA ( Running approx 2.5 years). I had it reduced slightly
to help through a tough time. No payments missed though.

Things are slightly easier now and i am happy to increase payments, however i need to get a new car to get to work.

My mum is helping a little ut i need approx £1000.

Any Ideas, anyone. ??

[MelanieGiles]

Hi there and welcome to the forum

You will struggle to find any lender who will provide that sort of funding whilst you are in an IVA. How much are you paying into the IVA each month? Perhaps the Supervisor would allow you to miss a couple of payments to enable the car to be purchased? Or could your Mum lend you a little more towards it?

[David Mond]

Or seek another variation to add missed payments on to end of IVA.

[plasticdaft]

Or seek another variation to add missed payments on to end of IVA.

Would a full variation metting(and fees)be required just to add a few payments onto the end of an IVA David?? Just curious.

[kfletcher]

Hi,
I am paying £300 pcm. I am happy to increase this to £375 pcm as i had an original agreement to pay £350 but this was reduced due to difficult circumstances. I want to get back on track, do you think that my IP will help by suspending payments for a couple of months if i agree to increase payments after that.

[rayb]

Hi,

The only way to know for sure is to contact them and see what the say

[MelanieGiles]

If more than three payments are missed then the IP ought to vary the case simply to get creditor ratification for his/her actions.

[plasticdaft]

Even if the payments can be made up prior to the end date of the IVA?

Do variation meetings vary in cost Mel?? I mean for something simple could an IP not just email all involved and be done with it?

[c.j]

I am waiting for my variation next week. on the documents it states that the cost of £250 is to asked to be paid by the creditors, i dont think this will happen somehow. I dont know if i have to pay it if they dont agree but if i get my variation i dont care.

[David Mond]

No c.j - the £250 will come out of the pot and will be acceptable by the creditors as it is such a low variation fee.

[kfletcher]

I have e-mailed my IVA IP (KS Tan) to ask for a payment freeze for 3 months. I have suggested that after this period i will be able to resume payments and maybe even increase them.

Does anyone know if it is possible to change your I.P to another. !!!
I have not had any problems with KS Tan, i am just curious. !!!

[kallis3]

Hi,

It is pretty nigh impossible to change your IP once an IVA is up and running. You would need a good reason, it would involve going back to court and it would cost a fair amount as well.