Not all lenders financing car HP agreements allow their customers to enter into an IVA. Some lenders have clauses written into their HP agreements specifically prohibiting borrowers from offering IVA proposals to their creditors on pain of the HP agreement being nullified and the car being immediately subject to repossession, in the event that the borrower breaches their HP agreement in this way. Continue reading
Hire Purchase
McCambridge Duffy articles that discuss Hire Purchase in relation to debts and Insolvency.