You should probably have tried a forced sale valuation - they seem to come out much lower.
Maybe not quite as much with the credit cards and loans - we still have a mortgage and secured loan though!!
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
One of the few advantages of living in the North East of England and being in an IVA with an equity release clause is; house prices have hit rock bottom, my house value has dropped by £20,000 since I first entered my IVA.
If the economy had been booming with house prices on the up I guess my circumstances would not have been as favourable.
webspark wrote:
Thx Jan
Wow !! north what a great detailed reply, that's fantastic news for you, made up for ya !! bet you feel on top of the world eh lol
I don't think i will be so lucky lol as we have a fair amount of equity in our place, valued at 40k more than in original proposal !!
Anyway, well done north !!!
Daz
IVA COMPLETED ON THE 17th MARCH, FINAL I&E COMPLETED 26th APRIL, COMPLETION CERTIFICATE ARRIVED 2nd AUGUST
I'm in the Midlands and was originally valued at £215k. The same sort of house that I have has just been sold for £180k. Bit of a drop!!!
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
U will have to forgive me I did not realize the wording was not the usual protocol. Would be interesting to see the outcome if it means it would not have to be extended x
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Prob right there Jan, mortgages and remortgaging not really my domain lol, we bought our house in may 1993 still in our first home, cost 68k then, now valuation was 240k so quite a bit of difference, no good if you can't remortgage though.
All the best,
Regards Daz (webspark)
[:D]
Completion Certificate Received 2nd October 13. [:)]
Question for you which companies did you approach for your remortgage option.
I am having a couple of issues with this as companies are asking me to make an application and then they will do a credit check.
Obviously it will fail at that point but that will then end up on my credit record.
From my previous posts you will note I have nearly paid the agreed amount but I have substantial equity in my house.
My I/p feels we have to be very careful as to how we approach the creditors as he feels they will want some of that equity.
Yes I do have that 12 month extra in place and they have asked I get the letters of refusal my current lender is no issue I should have that one imminently.
Just wondered who else you used
Sorry! missed your post bill, just a quick late reply, I have only approached my own lender Santander and immediate refusal when i mentioned iva. Still waiting for GT to reply with equity amount they want.
Take care Bill let me know how you get on !
All the best,
Regards Daz (webspark)
[:D]
Completion Certificate Received 2nd October 13. [:)]
If you email me at ivacustomerservices@uk.gt.com with "IVA Forum" in the subject line, I will review your case and get all your queries resolved,
Kind Regards
Karol
I have emailed GT a couple of times over the last 2 weeks with, as of yet no reply. Can I forward the email on to you in the hope that somebody can look into it and get back to me?
Starting to panic a little bit.
Please email me at ivacustomerservices@uk.gt.com with "IVA Forum" in the subject line, I will ensure you receive a prompt response to your queries.
Karol
Hi Karol,
Thanks for your info here, somehow i missed your post here (oops !). Just as an update I phoned GT today (12/10) and was told that my details had been received and that my file was still in the work queue, the person i spoke to was very helpful but said due to the amount of work GT currently have there are long delays, she did say that i should have an answer by Christmas ! She also mentioned about the equity release is based on my half of the property value and if i was unable to release it, then an extension of 12 months could be applied. My last payment should be Feb 2012.
If i haven't heard anything by Xmas, Karol, I will probably drop you a message then if thats ok.
Thanks, regards Daz.
All the best,
Regards Daz (webspark)
[:D]
Completion Certificate Received 2nd October 13. [:)]
