www.iva.co.uk

my parents got me a car on finance before there iva was put in place i was just woundering because that the debt for the car was enterd into the iva am i able to sell the car? or do i have to keep it for the next 4 years

Was it finance or a loan

i think it was a loan from the black horse

the car company i got the car off they sent us the forms from the black horse

Hi
I believe Blackhorse are secured hire purchase loans and would not be part of your parents IVA so NO you will be unable to sell the car without settling the debt in full.I presume that you are paying the finance repayments for the car ?
Regards

I bought a sofa from DFS and got finance from black horse, the deal was pay nothing for 12 months, in fact after 11 months i went in to an IVA still not paid a penny out of the £1250 and they never asked for the sofa back.

they didnt ask for the car back when my parents iva went through

so from what i can gather i carnt sell the car untill there iva has finnished?

sory for being a bit thick but all this is new to me

andydavie wrote:

NO you will be unable to sell the car without settling the debt in full.I presume that you are paying the finance repayments for the car ?

it was entered into there iva because the hp was taken out in my farthers name and i paid the installments monthly but when the iva was accepted he received a letter of black horse telling him to stop paying it as they were receiveing money for the car off the company that set up his iva

Hi
So is your father paying the instalments ?
If not then it must be a personal loan that was included in the IVA therefore you are free to sell the car.
The easiest thing to do is to pay and have a HPI check done on the vehicle to see if there is any outstanding finance registered on the car
Regards
Regards

ok thanks

just did a hpi check and it said this: VRM currently recorded as having outstanding finance

so i take it im stuck with it till there iva has finnished