Our report just states that if we cannot remortgage then our arrangement will continue for up to 12 months. There is no mention at all about going back to the creditors.
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
There was no mention in mine about them intending to make me bankrupt if the creditors didn't like the proposed variation, yet look what has happened. I think what Michael was talking about is that creditors, once they become more aware that there are lenders on the market who can supply funds to people with IVAs in lieu of the release of equity, will want to push that option on IPs and thus on their clients. I think that it would be naive to believe that there is no way that an argument could be made about a 'change in economic conditions' or some other such crap in order to justify some 'modifications' to existing agreements. I really hope I am wrong,but enough goalposts have already been moved for anyone to get complacent.
Last edited by brokebryn on Fri Feb 17, 2012 12:56 am, edited 1 time in total.
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
I've sent in my 4th year review with all requested documentation, not receive notification that Chid Tax Credit ceases in April due to earning too much now and have since emailed person dealing with it and now sent a copy of the notice in the post.
Had house valued last week, just hoping they send something through the post as when/if it's received, that'll go to the IP office too along with mortgage certificate which I've got sat here waiting.
I do worry about this time but hoping this last year will go smoothly. Hubby going hospital April 13th (Friday) for an op and he doesn't get paid whilst off so he's taking holiday which isn't right but don't want arrears again. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Bit of good news... I phoned my case worker yesterday to check if she'd received something I sent Wednesday, she had, but anyhow she said that my payments are going to remain the same and she is posting out a revised allowance table and the annual report etc soon.
Final payment 1st April 2016.
Completion Certificate received 19th May 2016.
Bryn - ours specifically states that there will be no funds available for bankruptcy so it would be down to the creditors to petition. There is also no mention of going back to the creditors, just that the IVA will continue for up to twelve months in lieu of the equity.
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
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
