I am in my 5 yrs of the iva. They say I have to remortgage the house. How much money I have to pay if they succeed in the remortgage or to continue the iva for 1 more year
Chances are you will not get a remortgage -- but if you did, they would be looking at up to 85% of your share of equity. The 12 month extension would be 12 payments at the level you are paying now.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Another message received from Anthony. Posting on his behalf:
I am in an iva according to the iva it ends up this September (5)yrs. the total deft is £130000.00 I pay monthy £280.00.if I want to end the iva before September how much I need I got fro family £5000.00 is it enugh .I got equity in the house.kindly advice me
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You have 8 months left to run and let's assume you get a 12 month extension .. so 20 months at £280 will bring in another £5600. So I would say an offer of £5000 would be looked at favourably ( although there are never any guarantees ).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
