I have a variation meeting booked for end of month with a settlement offer.
I own a property with my daughter.
I have just received a letter saying they want to look at equity....does this mean they arnt accepting the settlement?
I do understand that at the end of 5th year...this year...they look at equity of 85% and then propose another year of payments. We calculated all these payments the settlement offer.
The IP has a responsibility to report circumstances to the creditors, i.e what they will get from the offer, compared to what they might get from equity release, or even if equity release would be possible. The options will be put to the creditors at the meeting and it will be for them to decide.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
