modification added to include equity release?

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andy_m

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Post by andy_m » Sun Jul 22, 2007 7:34 pm
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We have been in an IVA for 12mths we had outstanding debts of £90,000 and are currently paying 29p per £ as part of our agreement there was no equity release clause after 4 years at the end of our 4yrs can they insist that a modification be added to include this
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Adam Davies

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Post by Adam Davies » Sun Jul 22, 2007 7:49 pm
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Hi
No they cannot add a modification at a later date.
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
Andam Davies
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hara

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Post by hara » Sun Jul 22, 2007 7:51 pm
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I do not think so..Melanie Giles will be able to answer.I feel that would be unjust.

hara.
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hara

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Post by hara » Sun Jul 22, 2007 7:52 pm
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That is a lucky escape!
hara
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MelanieGiles

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Post by MelanieGiles » Sun Jul 22, 2007 9:07 pm
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The IVA cannot be further modified, unless you default on the terms and variation meeting has to be called.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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