Here is my story

[MelanieGiles]

Unlikely to disturb the IVA at all to be honest, if the amount being claimed is in line with the amount you included in the statement of affairs.

[Bob]

Hello again all. I've not posted on here for a while now as I have been very busy running my own training business. I am pleased to say that all the hard work is slowly paying off and I am doing ok at the moment - not setting the world on fire but doing ok.
Well I've arrived at the fateful 5th year of my IVA - the one that has been filling me with dread - not because of the continued monthly payments - I can cope with them now but the dreaded realisation of 100% of my share of the equity in my property which must be brought into the arrangement by December 2009.
I have up to this point selfishly been praying for a huge downturn in ppty prices in the hope that I might have a negative equity. Today I paid £20 for an online valuation by Up My street. I appreciate it is a generic valuation and does not take account of the condition etc of the property. However - using it as a guide - I could be faced with having to find £30K by Dec. Anyone out there got a magicians wand and top hat?
I would imagine it is going to be nigh on impossible to re-mortgage in the present economic climate - well would you lend me money? lol.
I was looking at a website **Link removed** where they have a section on sell (to them at less than market value) and rent back the property (to me long term at market prices)
Has anyone got experience of these people specifically or of these schemes generally? Would love to hear if you have.
Thanks
Bob.

[Julie]

Hi Bob - well done on the training business and on reaching the 5 year mark!!

I've only ever heard bad things about the companies that buy and rent back....heard they hike the rent up so much you get evicted [:0]

Why don't you get an estate agent around to give a free valuation - pretend you're considering selling and get the true value?

Is there a clause in your IVA that covers if you can't get a re-mortgage?

[kallis3]

Well done from me as well Bob.

I totally agree with Julie that I have only ever heard negative stuff about these firms and would not recommend that you went to one of those.

[Bob]

Yes of course I should have said that I will have to get two independent valuations to submit to the Supervisor, along with a mortgage redemption figure. The online valuation was just to give me some sort of idea.
Thank you Jan and Julie for your comments.
Bob

[David Mond]

It looks though that you still have a lot of equity in your property. If you had to realise that £30k (if proper valuation holds up) and this sum was paid into your "pot" what dividend would be paid?