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Posted: Tue Feb 05, 2013 6:51 pm
by Nicholas.96
me and my partner are 8 months into an iva and we havnt missed a payment.We need to upgrade to a bigger car as she is pregnant again and the finance company said they would help and our i.p. said that is ok. We have no assets just a car on finance would bankruptcy be a better option?
Posted: Tue Feb 05, 2013 7:17 pm
by Shining
Hi, only you can really decide this. Are you struggling with your IVA? Life isn't easy I do admit within an IPA but with bankruptcy you may be paying for a further 36 months. We have posters who have been in an IVA and then bankrupt.
Posted: Tue Feb 05, 2013 9:49 pm
by Kelly O
If you purchased another car, you could find it is at risk in a bankruptcy depending on the value as it would be classed as an asset.