www.iva.co.uk

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

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.

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.

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(

An IVA can sometimes feel as if one has a chain around one's ankle [:(]

What a nice boyfriend you have though [:)]

Debbie