My first car

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suze

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Post by suze » Sat May 03, 2008 3:20 am
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I am in a IVA and my boyfriend has just brought me a car, it is an old F reg which he paid £700.00 pounds for, do i have to advised my IP of this (like I would if I came into any money)and I would I be at risk of losing it?

Thanks
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luluj

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Post by luluj » Sat May 03, 2008 6:22 am
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You should tell your IP - how are you going to dund petrol, tax, insurance and maintenance costs on your current I&E? You may need to say why you need a car now in your IVA compared to not having one prior - what has changed - they may not allow this for additional I&E purposes.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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MelanieGiles

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Post by MelanieGiles » Sat May 03, 2008 11:32 am
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Lulu makes a good point in that the running costs for the car will need to be taken into account in your annual review - and I would leave it until that time to advise your IP so long as you can afford to maintain your payments in the meantime.
Regards, Melanie Giles, Insolvency Practitioner
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suze

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Post by suze » Sat May 03, 2008 8:49 pm
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The running of the car kind of breaks even to me catching pulic transport. Me made sure I could still afford my IVA before considering a car...so in regards to me still making my payments it will not be affected. I was just worried that they may want me to sell this (sorry the IVA is still new to me only 6 months in) My boyfriend will pay for the maintanance and just cover the insurance and we share the petrol costs.
I love this car as it was a present and was just worried of losing it (and seen as I didn't pay for this I would be gutted if this happened)
Since being in my IVA I feel like I'm not allowed to own anything!
:0(
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Soulgrowth

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Post by Soulgrowth » Sat May 03, 2008 9:30 pm
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An IVA can sometimes feel as if one has a chain around one's ankle [:(]

What a nice boyfriend you have though [:)]

Debbie
Debbie
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