If you are insolvent and are considering offering an IVA proposal to your creditors, you need to consider the implications for your transport needs, particularly if you already have a car or other vehicle. The first question you must ask yourself is whether you need a car in the first instance. Creditors may ask this question and you should be prepared to answer it. Provided you use a vehicle for the normal transport needs of your household or you need it for traveling to and from work, your creditors usually will have no objections to your keeping a car. Continue reading →