f and f advice , offer has been accepted

[a06]

from earlier advice, my husband and i have decided to go down the f&f route. from a total debt of 75244 and a remaining amount to pay of 48k, we are offering 40k given to us from my parents from a loan secured on their home (we will pay them back). I am confused about my terms and conditions with regards to my house, it is in mine and my sisters name and is jointly owned with a housing association. currently we are paying an extra 6 months at the end of our agreement to purchase the equity, however with this f&f offer will we have 2 get house revalued as we're only 9 months into arrangement?

[Adam Davies]

Hi
No,I don't think so.
Your IVA was extended by six months instead of the equity release[if I read your post correctly]
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[a06]

thanks..yes it does say we are adding the six months by way of purchasing the equity.. i will let you know how it all goes anyway.

[a06]

received a letter from GT asking for verification that my dad is willing to provide this money. what should he write for them?

[MelanieGiles]

Just write to them to confirm he is willing to give you the money!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[a06]

back again with another silly question. would creditors accept the 40k if it were to come from our half of a sale on the house? we could probabl;y raise 45k but owe our parents 5k for new windows out in as our previous ones were rotting. we have kept receipts. is this possible or will they want more because our house has jumped up in value?
We were thinking of selling up and just starting again from scratch. no deposit for a new house but no unsecured debt. it would also save my dad remortgaging!!!

[MelanieGiles]

You really need to ask your own IP that one, as it is not clear from your post what position you are in with regard to equity release provisions.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[a06]

just to let you know our offer has been accepted, it went down to £33k in the end with current property market, just have to get house sold now (easier said than done!) Even so the relief was so overwhelming i burst into tears on the spot!!! Just wanted to say thank you to everyone on the site, I regularly checked in to remind myself I wasn't alone and all the stories/words of advice really helped. Not to mention the fact I didn't even know of such a thing as F&F until i found the site! Thanks again!!

[MelanieGiles]

Great news - and another success story for the forum!

[Soulgrowth]

Great news ... congratulations ... I hope mine is also as succesful [:)]

Debbie

[Lisa2009]

Brilliant news, well done and all the best.

[iva.com]

Hello a06, Congradulations on your F&F - always nice to read the joy when it is all done with. Can I take this opportunity to ask you if you would mind writing a review of your IVA provider on the review boards of our web site? Best of luck for your debt free future.

Many thanks
Susan Macdonald