It says in my proposal that if I have less than £5,000 equity in my property then the IVA will be closed down but I have about £15,000 equity so I am assuming that the 12 month extension will now take place.

Thanks again Claire

Yes Melaine, it states in my IVA proposal that if I am unable to obtain a remortgage, that the IVA should instead be extended by up to 12 months. I appreciate you all taking the time to reply.

Many thanks

Hello all, This is my first post here. I have paid five years of my IVA and at the moment I have been asked to try and remortgage which up to now isnt looking possible. My I.P says that I need two mortgage declines and then he will start the last 12 months of payments to satisfy the "in lieu of equi...

Hi, I am currently in my fourth year of an IVA and been asked to raise the equity in my property which four years ago they were expecting me to be able to raise £30,900. I have just spoke to a mortgage broker who my I.P put me in touch with and was told that with my house decreasing in value over th...