Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If you are in an IVA you cannot get further credit without your IP's permission and, in any event, the finance company will, in all likelyhood, refuse an application due to your low credit worthiness.
That said, there have been one or two instances where the IP and creditors have agreed, due to circumstances presented at the time (which I cannot recall) AND the finance company has extended the finance to cover the balloon payment .... but we are in the realms of unicorn pooh here.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk