www.iva.co.uk

I am thinking of setting up a car lease. The thing is, I am planning to apply for an IVA in the new year, but my current car is on it's last legs and I need a reliable car for work. I was planning on going for the lower end if the Dunctons criteria, which is about 5k. My current DI is about £600 a month, so if I got a lease for say, £250, I'd still have enough tobput forward a credible IVA offer. I was wondering if taking out a new lease immediately before creating an IVA proposal would be frowned upon? Would creditors think "cheeky bugger, he could have not done that and put the whole £600 into the IVA!"?

Dunctons have advised me that I cannot set up a lease whilst in the process of setting up an IVA, but technically I'm not...I'm still in the thinking stage, so if I were to apply, all that would show up on my credit file are CCJs and defaults.

Not at all - your IP, and the creditors, would see you as being responsible for ensuring that you have reliable transport over the course of the IVA. Presumably you need your car to get to and from work, and without transport it would be difficult for you to earh the money required to fund the IVA.

Hi
A sensible car can be very cost effective in a five/six year IVA and it is not that unusual to have a HP/Lease agreement sorted out prior to an IVA
Regards