They tried that trick with my equity, but backed down when I referred them to the example on their own website.
https://www.payplan.com/the-equity-clau ... swered/#q6

Good luck with sorting it out..

I wouldn't always assume that there is too much equity in your property ,my own valuation with the same agent was £220.000 for a normal sale and £155.000 for a forced sale .Marcus

Is your iva withpayplan ? , I have been through the process with EIF and have to say it was relatively painless they filled in most of the forms and I signed them ,I honestly thought I had no PPI at the beginning but they found some and sent the money directly to pay plan ,the nice thing is I reciev...

Totally agree with marathon man ,get a forced sale valuation according to the agent I used there is on average a £20 k difference between that and a market valuation.

Question it with pay plan ,they told me I had to remortgage ,I rang and told them I thought they where wrong and gave them the figures working out the equity which was below £5k after a few minutes on hold they returned to tell me they agreed with me and I didn't have to remortgage ,I just wonder ho...

Definitely go for the forced sale valuation ,from my own experience £200.000 on zoopla , forced sale valuation £155.000 quite a difference and saved me the extra year

Get a valuation based on a forced sale ,it is completely different to the market valuations in your area .In my own experience I told the local agent exactly why I wanted the valuation ,he charged me £40 came in with a valuation £20.0000 less than he would have put it up for sale normally for and sa...

I got my valuation 6 months ago I paid £40 to a local agent for a valuation. When he arrived I told him the truth that I was in an Iva and needed a valuation based on a forced sale the upshot was that he valued the house £20,000 less than the price he would have marketed it for . this put me under t...

Hi ,scooby dont trust the valuation on zoopla my valuation from my local estate agent came in at nearly £20.000 less based on a forced sale , than the one on zoopla.This could be the difference between that extra year and not .Marcus777

It would appear after contacting payplan that it is a bit of human error and they verbally now agree with the my figures , just waiting to have it confirmed in writing ,Thanks to everybody who replied, Marcus777

Thanks for your help Foggy much appreciated ,could any experts out there offer an opinion ? Thanks Marcus777

Thanks Foggy, IVA taken out January 2009 with payplan so not sure its protocol compliant. My proposal states that In month 54 of my arrangement a valuation will be carried out on the property if that valuation shows that 85% of my interest in the value of the property (after deducting the amount of ...

Hi Foggy thanks for the reply , struggling to get my head round this. I thought based on the following house value £160.000, 85%ltv on £160.000 =£136.000 ,£136.000 less mortgage and secured loan £128.820 =£7180 ,split between my wife (not included in iva) and myself leaves £3590 . I thought this is ...

Hi Melanie or anyone else ,I decided to contact another estate agent to value my property after your last post to get a second opinion,the new valuation based on a forced sale came out at £160,000 so i sent this off .Today i have received a later back stating valuation £160.000, mortgage redemption ...

Thanks for the reply Melanie my monthly payments are £387 ...Marcus777