Fees for ending IVA early

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shawshank68

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Post by shawshank68 » Thu Jan 10, 2008 1:00 pm
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Just completed on a remortgage to end IVA early.

Advised yesterday - day before completion that there is not enough to settle IVA and pay fees to solicitor and facilitator. They were the ones who decided what the remortgage should be for amountwise so now I kick off being IVA free and have to find £1000.

Do you think I have any redress for bad advice?
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MelanieGiles

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Post by MelanieGiles » Thu Jan 10, 2008 1:19 pm
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I suggest that you ask both the IP concerned and the broker - who the IP may have referred you to - to share the cost of this shortfall. Could you have borrowed more money or are you at the limit on loan to value?

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
Regards, Melanie Giles, Insolvency Practitioner
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shawshank68

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Post by shawshank68 » Fri Jan 11, 2008 2:41 pm
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I was nowhere near limit on borrowing so could have easily borrowed more but the day before completion they said I shouldn't ask lender as he would vary interest rate.

I just can't believe I am immediately £1000 in the red - what was the point?
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