Re Hussa's posts

[e.h]

Hi there

I am a little confused here as I think Hussa is also. From Hussa's post it would appear that the IVA will be fully paid up (100% back to creditors) at the end of its term in 10 months time. If this is the case, why is a remortgage necessary? Are you in fact required to remortgage just to cover statutory interest, as would appear to be Hussa's case? I don't mean this to sound glib, I am just interested.

Many thanks

Liz

[Viki.W]

I've just popped hussa's post up to the top. X

[Adam Davies]

Hi
The maximum that Hussa could pay is original debt plus IP fees and statutory interest
Regards

[e.h]

Hi Andy

Thanks for your reply and I understand what you are saying but is it also correct that as Hussa will, by the end of the IVA in 10 months have paid the creditors back 100% of the original debt, he (forgive me if you are a she Hussa), will then be required to remortgage to pay the statutory interest? Sorry if I am being dense Andy, I just can't quite get my head round it.

Cheers

Liz

[MelanieGiles]

Not dense Liz - I am sitting here pondering the same point!

[e.h]

Thanks Melanie and Andy. Await your thoughts with interest.

Liz

[Adam Davies]

Hi
He or she will have to raise this point prior to remortgaging.It would be sad to have to remortgage just to cover IP fees and interest.
Regards

[e.h]

Thanks Andy - exactly my point.

Liz