I am coming to the end of my IVA, two mths left to run. My original debt was 47.999, to date I have made voluntary contributions to the sum of £51,000. In MAy I was asked to provide a redemption figure on my morgage to DFD, they was asking for £6,200 part of my original agreement, from the morgage. I don't think I have got enough equity in the house for the release of additional funds. I have submitted the figures and have heard nothing back from DFD to what the proposed outcome is, I rang them yesterday and was told by an advisor that someone one will contact me nearer to my conclusion date in October, but on file they have the IVA finialising in October 2012. He did tell me my case has been passed to another department and I would have to wait until they contact me, nearer my conclusion date. Are they likely to extend my IVA further or will it finalise in October?
Hi Harrypop - well done on getting this far. If you do not have equity in the house you cannot be expected to release it. If your proposal was to achieve a minimum dividend and that has not yet been rached then you could be facing an extension to make up for the difference. It looks like you could be heading for 100p/£ in the anyway with what you have paid already so I can't seem them needing to extend it however, as always, only your chosen company can give you the definitive asnwer as they have thec specific wording of your own proposal.
Let us know what the outcome and best wishes for life post IVA.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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