I know that I'm not allowed to take out unsecured credit, but can I take out a secured loan as our car is kaput and we need a replacement for us to get to work?
Whilst in an IVA taking out any form of credit is done with your IPs permission. I would see if a payment break is possible rather than even considering a sevured loan... Even if they agreed to this would you be able to fund the payments whilst maintaining your IVA payments ?
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
One other question that might get asked is that, if you have equity in your house, why you couldn't use that to pay off your unsecured debts. You're usually asked to do that anyway at month 54. And if you're in an IVA, any sort of credit is going to be hard to get.
But luluj is spot-on: talk to your IP, a payment break will probably be a much cheaper & simpler option.
How much do you think a replacement car would cost, Gary, and how much do you pay into your IVA on a monthly basis? Also, how much equity do you have in your property - and how much is it worth?