my lease hire for my car comes to a end on may 15th i have a balloon payment on this can i refinance this whilst in a iva i need a car due to the location to get to work
Hi im new on here, so can only say how mine went. I am with Citroen for my car and had the balloon payment built into my iva until november this year, after that my monthly iva payment goes up by the amount of the car payment.
This gave me 26 months to negotiate with Citroen, what happened i sent them a letter expressing i wished to keep my car, and had 26 months allowed into my iva to pay the car off i let them know how much per month i had allocated to pay them. I also sent the same letter to my IVA company, after i had called them to discuss. Citroen agreed to allow me to pay the balance on the car as of August this year the car is all mine and 100% paid for. Then the extra cash set aside goes on to my iva.
Hi Speak with the finance company and ask to refinance the balloon payment based on the monthly amount that you are paying out each month now Regards
Andy Davie, IVA.co.uk spokesperson and a Debt Advisor If you need any help or advice about the various debt solutions available please contact me via my website at www.andydavie.com Author of "Real life IVA stories" and Debt Counsellor of the year finalist 2010
How was this addressed in your IVA Gillian? Surely your IP spotted the likelihood of needing to deal with this at the time your IVA proposals were being finalised?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
my lease hire for my car comes to a end
Posted - 09 March 2010 : 17:51:04
