CreditFix have said that they'll accept another valuation. We've seen an agent and we're awaiting his letter.
I've asked Creditfix for clarity over what it is they want us to do and the terms. So far, we've had nothing in writing just a telephone conversation.
As our IVA was meant to end in November I'm wondering whether really they ought to have given us notice.
Thats good to know theyre happy to look at another valuation anotherbump. Keeping my fingers crossed that you get a good outcome, and your iva concludes swiftly. CF seem to be completely swamped don't they? Our annual review was due in October, and we haven't heard a sausage despite phone calls and emails, each time we are told "its being looked at" and someone will get back to us soon. Very frustrating. I will definitely be asking for a forced sale valuation too hubert.
Yes, a "forced sale" basis or "3 month sale" basis is generally accepted in insolvency world and can be 10-15% less than market value so can be critical. Good luck.
We ask our clients to get the valuation and deduct the cost from their next payment. The agent can then get paid for their work and the client can ask for the correct valuation. 'Free' valuations can be overinflated to get the business and thus cost you an extra years payment in the long run.
Thanks Michael, I agree, and am quite happy to pay a surveyor. I wouldn't like to ask an estate agent round on false pretenses either. A 10-15% difference in valuation could well mean the differnce between extending or not in our circumstances. Out of interest anotherbump, did Creditfix allow you to deduct the cost from your iva payment?
