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Posted: Mon Jan 21, 2008 11:40 am
by claire.a
hiya im currently in an iva and have been so for over 2 yrs but my car has now been stolen and i need another for work purposes and need one fast, are you allowed in some way to get a loan for a car whilst on an iva? is there any other options
Posted: Mon Jan 21, 2008 11:43 am
by pbeck
It's highly unlikely anyone will give you a loan, as they will do a credit check and see that you are in an IVA. In any case, you would need to talk to your IP about this, as borrowing without your IP's permission would be a breach of the terms of the IVA.
If your car is insured for theft, you should talk to your insurers about arranging an alternative car.
Philip Beck -
www.freeivaadvice.co.uk
Licensed Insolvency Practitioner and IVA specialist
Posted: Mon Jan 21, 2008 12:36 pm
by pixie
Hi Claire
If you're covered by car insurance they should sort out a claim fairly fast. I had one stolen a few years ago and they paid out within 2 weeks. The main problem with it I had was that I lost my no claims as they consider getting your car nicked your fault!! The insurance premiums then doubled.
I hope you get it sorted out soon.
Pixie
Posted: Mon Jan 21, 2008 12:37 pm
by caraf
Are you allowed to borrow off family ?
Posted: Mon Jan 21, 2008 12:41 pm
by pbeck
That will be OK so long as you don't start repaying them until after the IVA ends.
Philip Beck -
www.freeivaadvice.co.uk
Licensed Insolvency Practitioner and IVA specialist
Posted: Mon Jan 21, 2008 5:44 pm
by emma_t
Hi claire
Sorry to hear you have been the victim of car theft.
I used to work for a car insurer and if you are insured for theft you will be covered. The only thing is if they don't find your car quickly they could wait for 28 days to see if it turns up before they pay out. If found sooner and, for example is burnt out or total loss they will settle earleir.
These things can take time though.
I hope it gets sorted soon, have a word with your ip and see if there is anything they can do for you by was of a 'paymnent break' to give you some funds to buy a replacement. I think it varies from Ip to Ip but have a word with yours and hopefully they will be sympathetic to your situation.
Good luck
Emma
Posted: Tue Jan 22, 2008 3:50 pm
by iva experts
Hi Claire,
Sorry to hear that your car has been stolen, I would contact your I.P as soon as possible so this can be sorted out fast. Also good advice from other posters advising to contact your insurance company or borrowing the money from a friend/family.
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/