Equity Release

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Pbryan10

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Post by Pbryan10 » Tue Feb 12, 2008 2:25 pm
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Hi All
My IVA States that in year 4 I am required to pay in an additional 11k via an equity release. A percentage isn't mentioned (i.e 75% of equity to be released) Do you think they will stil push for 75 or 85 % or settle for the actual figure as detailed in my proposal?
Just a bit worried as everyone seems to have a percentage clause rather than a figure
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MelanieGiles

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Post by MelanieGiles » Tue Feb 12, 2008 5:20 pm
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If an actual figure has been quoted then this is the amount that you will need to raise. I assume that you have been in your IVA a little while, as this type of provision has rarely been used for some time.
Regards, Melanie Giles, Insolvency Practitioner
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