www.iva.co.uk

Happy New Year....

We've been reviewing the position in regard to our VW which has about 60k on the clock and requires a full service (£250), a new radiator (£350), brake pads (£50), two rear tyres (£120)....

It takes the 98 octane unleaded so is also increasingly costing a fortune (£1.39/L)

Basically we need to get rid I think and swap for a decent second hand - perhaps cheaper petrol or diesel with better economy.

I noticed that our current car is written in to the IVA but we plan to spend the same value in order to obtain something more suitable.

There's no HP finance on the vehicle as the loan was unsecured and included in IVA.

Does anyone know if this would usually be a problem at all?
The IP office is closed until tomorrow....

Hi Beatbox, I think if you're going to swap your vehicle for another of a same value and no money is involved you could do this. One of the regular posters with more knowledge will be along soon. Hope you get that more economical vehicle.

You should be ok but run it past your ip before you do anything. Happy new year and I hope you get sorted.

When you say your car is written into the IVA what do you mean exactly? Surely the car was an excluded asset and therefore yours to do what you want with?

I just noticed that the vehicle details and estimated value are written under Excluded Assets so I can see what you mean Melanie.

Thanks for the responses everyone