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Wibbledog
Posts: 17 Forumite
We are on a DMP but about a year and a half ago we got a car on a "Bubble payment" deal. The cost is now too great for us to support but if we just give the car back we will still owe about 3 grand (which we obviously cannot afford) and we cannot afford to sell it as we will still be short of the total owed. So does anyone have any suggestions? 
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Comments
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What is a "Bubble payment"?I used to have a signature but it disappeared and I just couldn't be bothered writing another, so please feel free to ignore this.0
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Where there is a large "bubble" payment at the end of the deal to finish paying it off instead of a large deposit upfront.0
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Even if we were to sell it we would still come up short on what we owe.
This could actually break us if we can't do anything about it.0 -
Have you tried speaking with your dmp advisor...
They maybe able to negotiate a return agreement with the car company so you don't end up owing 3k. Maybe half the amount which could then be paid back in a managable way in with your dmp.
I sympathise wholeheartadly with you....we were in a similar predicament with our car.
Mel xUnless someone like you cares a whole awful lot,
Nothing is going to get better. It's not.0
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