Hello, My husband has been paying his iva for over 5 years. It was extended last year for a further 12 months due to not being able to remortgage. He has 3 payments to go to complete the extension of 12 months. Is it normal for our IP to request all the yearly statement / earnings etc? They have req...

Hi, just to clarify. The iva terms and conditions state clearly remortgage or up to 12 months extension. The secured the ip suggested had incredibly high interest rates and repayment term was 15 years and beyond our mortgage term ( so much for debt free in five years) Ip said they didn't care 'which...

Hello, Wonder if you can help? This issue has been brought up on here before by myself and others. Last payment of IVA due to be paid the end of this month. I Have IVA protocol from 2008 where it states remortgage or a maximum of 12 month extension . . however IP has said we should take out a secure...

Thanks Melanie . . That is very helpful and interesting as i was informed today by IP s right hand man that a secured loan amd a remortgage are the same thing! That we had no choice but to accept the loan offered or risk bankruptcy. . .or.. . Raise funds from a third party . . Should we seek legal a...

What does a variation usually entail?

Hello its debt lifeboat

Hello, Wonder if you can help please? My Husbands iva is due to finish in July after five full years of paying consistently every month. We have tried to remortgage but cannot. Our IP suggested various high interest secured loans over 15 years but we refused as that is not mentioned in his original ...

Hello I hope you can help / advise me. Husband's iva due to finish end of July.There is the remortgage clause in his iva and the amount due would be £17300.00 We have tried to remortgage but failed. The IP tried for us and also put us in touch with two different people who they thought could help. ...

£9,000 secured loan over 15 years totalling £24,000 can this be enforced? If secured loan is refused by her can you be made bankrupt? Would a full and final settlement be offered?

Hello, this is Desperado77. I cannot login so am trying to reply to Melanie Giles by this method. Melanie, our IVA Company is debt lifeboat in birmingham.we did not ask them to source a secured loan for us, they asked if their financial advisor could try and source a remortgage, as they could not th...

Hello, I wonder if you can help me please? My husband is in month 55 of his iva. There is an equity release clause in the iva. Our iva company have asked a financial advisor to try and source a remortgage deal for us as we were unsuccessful in doing so. It states on our original documentation that i...

Hello, wonder if anyone can advise? My husband is in year 4 of an iva. We had a review in July and it ws agreed he should continue to pay a monthly amount of £264 for the next year. Then in August we received a letter confirming this and also to say we should start the ball rolling on trying to rem...

Sorry . . meant to ask . .so, do you think our IP advisor is correct in saying we need at least £17k plus in order to get out of this early? As I thought approx £8k would be enough?

Hi All, Thanks for all your comments. He has paid in just over £12k so far as monthly payments have changed over the years ie; year 1 = £264 year 2 = £348, year 3 = £318 and this current year back to £264 again. His overall debts were approx £55k. We have asked our IP what our options are in respect...

I have already written and cashed the cheque with no problem at all from mortgage lender. It is to pay off my debt now as been using cards to pay for food and fuel. We are both quite ill with the stress of this whilst trying to pay bills and feed two children . . but am now worried if this is agains...