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Will I lose my car if I do an IVA?
Posted: Fri Aug 09, 2019 2:12 pm
by matthew144
I have a car on finance with Volkswagen and are potentially going to apply for an Iva will this mean I lose my vehicle
Re: <t>Will I lose my car if I do an IVA?</t>
Posted: Fri Aug 09, 2019 2:49 pm
by Dan2991
No if it isnt included as a creditor and has been included on your I&E. I have car on finance never been an issue.
Re: <t>Will I lose my car if I do an IVA?</t>
Posted: Fri Aug 09, 2019 3:20 pm
by kallis3
Depends on how VW look at it. Some car companies will ask for the car back. Perhaps an anonymous call to the finance company might be an idea?
Re: <t>Will I lose my car if I do an IVA?</t>
Posted: Fri Aug 09, 2019 3:43 pm
by Foggy
Most of these finance agreements have an insolvency clause, but not all of the firms activate it .... a phone call might tell you, as Kallis suggests.