how to get out of this mess

[andrea]

firstly when we went into this we was in a fix rate and it ends in november and is going up £130 unless we go in another fix rate which will go up £80 but that takes us to just payin them £197 will they allow this they have extended it already for 12 months had no arrears my son and daughter left home but they took it off my shopping bill and still extended it i would like to remortgage and pay them off but dont know if i can all it says in my conditions are no equity but will be checked in the fourth year what does that mean but getting very concerned now with the mortgage going up will it fail

[ray_a]

Hi Andrea

I am sure the experts will help but here are my thoughts and hope you find it helpful.

If your outgoings rise because of the motgage interest rising then it should be possible for you to ask your IP to see if the IVA can be varied.

Personally I think we will see a lot of these over the next 12 months.

Your IVA should be reviewed every 12 months in any case so a reduction could be considered.

The important thing to do is to tell your IP as soon as possible and I do suggest writing rather than calling!

Do tell us how you get on

Good Luck

[Adam Davies]

Hi andrea
I,ve answered this in your other post
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