Hi 'baldy' - re the equity release, we had the standard clauses on this (85% LTV etc) - we have negative equity so this was never going to be an issue!
Stepchange sorted the valuation - must have been a desktop or drive-by valuation as nobody ever came to the house. We got a letter pretty much as ST1100 said, saying that there was no equity to release and it would end as planned.
That's good news for the both of you!!!
I know for a fact that we have loads of equity in our house so im pretty sure we will be doing the extra 12 months.
Yeah it is good to read a few good posts about IVA companys trying to do the right thing and also looking after their customers.
I know "Step Change" have been criticised for being linked to the banks etc but they seem to be pretty fair overall.
Step Change appear to run their IVA's in a fair and consistent manner, however, they cherry pick the straightforward cases and pass the others on to Grant Thornton ( when you sign up you will not know where you will end up).
We have very few complaints, other than the impossibility to speak to the IP, on here and the vast majority of their clients never seem to feel the need to speak to the IP.
I enquired with them when I was starting out and, personally, found them to be a bit too "pushy" ... but that is just me being me.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
