finishing early

[indebtforever]

hi i am pondering on remortgaging to raise enough to finish my iva is this advisable?i dont want to go out of the fire into a bigger one if you know what i mean as i would say interest charges will be a lot greater has anyone else finished it this way and regreted it?

[Lisa2009]

indebtforever, do you have an eqiuty release clause? if you do its much harder to get creditors to accept a F&F.
There would have to be exceptional circumstances.

We remortgaged to end hubby's early (completed in december) Due to my illness and other family problems.
No we deffinately dont regret it. I think we got in just before the credit crunch hit though.

[indebtforever]

hi yes i do but being an older iva and not much at the start it was a set amount of £1,025.so are you paying well over the odds with interest?i think i have 20k equity and need to look for 12k to finish it

[Lisa2009]

It is a higher interes rate than normal high street but its on interest only untill the IVA drops off the credit file.
It is affordable though and things are far better for us now.
I dont know if it would be possible now the credit crunch has hit but i can recomend you give Andrew Graveson a call, his details are on the experts page.
He found us our remortgage. He was very helpful and was there to answer our queries all the time (i had a lot LOL) Infact i dont think anybody else would have been half as patient with me as he was.

[indebtforever]

thx mrs skint i will phone him and ask if it is feesable

cheers

[Lisa2009]

Good luck xxx

[indebtforever]

andrew is a busy man today with meetings etc he is going to contact me thx again mrs skint i need to go to work now will keep you posted[:)]