www.iva.co.uk

hi all just need some advice on this my payment they want is £10,oooto pay car off i have not got this they told to fill a financial statement which i can offer them £280 a month any body had any luck with this ballon payment thanks

£10k? what car have you got?

My balloon payment was £3k, i popped to the car dealer where they refused to help but told me it was possible if i spoke direct to the finance part of citroen, so i called and sent a letter showing my I&E and a letter from my IP showing i had an allocated fund to carry on my car payments for the next 24 months, Citroen accepted and in August this year the car is all mine!

hi got a renault megane we have paid £6,000 over 3 years i will send off my income statement to them i will let you know of the out come thanks

Are you in an IVA Arrows? If so, how was the proposed balloon payment dealt with in the IVA proposal?

I think Arrows is in a DMP Mel.

If by balloon you mean a Guaranteed Minimum Future Value (GMFV),on a PCP deal you should have equity in the car if you sell it to the dealer.At the worst you can just return the car with no penalty(as long as you`ve kept to the mileage agreement etc).