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Posted: Thu Jun 30, 2016 3:11 pm
by Alan.22
can you get finance for car while in iva
Posted: Thu Jun 30, 2016 3:25 pm
by ginger323232
You will need permission from your IVA company . There is only a few companies that will offer finance if in an IVA - but the interest is likely to be high. MoneyBarn is one company
Posted: Thu Jun 30, 2016 4:15 pm
by wannabedj
As ginger said. I was accepted by Moneybarn but my IVA company said no because of the high interest payments. Mine was over 50%APR. If a car is essential to your job, you can ask for a payment break.
As I was close to the end on mine, I asked for them to accept payments to date as a full and final offer to which they accepted.
Posted: Thu Jun 30, 2016 4:18 pm
by kallis3
You could always see if a family member could sort out the purchase for you and you then pay them back at the end of the IVA.