Hi everyone,, havnt been on for a while but thought I would share some relativly good news & it might help others in a similar situation. We purchased a new car from VW 3 years ago we have been paying £177 a mth & it left us with a baloon payment of £8300 to find this month,now we love the car & it will last us,so realy didnt want to lose it,,I approached VW about re financing the baloon payment about a month ago(this is ok to do in our IVA) ,of course it had to be agreed subject to status & I thought we have no chance getting it while in our IVA.
Anyway got the paperwork back yesterday ,,all done & dusted & still only £179 mth for the next 48 mths at 9% APR.(small deposit payed by a family member) The reason we got it I think is because they have just modified our existing agreement & not started a new one.
Hope this helps others in a similar situation.[:)]
Kind Regards, MP
IVA accepted 1st October 2009