Thanks ,

Think all is clearer now.

Not really.

Think im being a bit thick here. My property now worth approx 130k, an equity rise of 100k, my outstanding mortgage is 30k. the Iva payments are 240 a month and i am nearly into year 4. How much will my creditors want ?

Again, when i say i dont mind paying the full amount i mean the original debt amount , if that amounts to the total of 28k plus IP fees then minus what I have paid in then that is fair enough.

Surely they cannot expect 85k for a 28k or so debt, or am i being a bit thick here. I dont mind paying the full amount if it finishes the Iva and gets me back on an even keel again

please excuse the spelling on my last message.

My Full Iva amopunt was 28k, I did not have that equity in my property 3 years ago.

House prices have rocketed in the last 3 years in my area.

I will be starting my 4th year of an IVA and there is the equity clause in it to remortgage to pay off my debts. My IVA was for approx £28000 so where does that leave me, surely they cannot want more than that, Saying that they want 85% of my equity is sayin g they will want £85k. Cant be right

Thanks,
The thing is i have a lot of equity in my property as i bought my house when prices were very low. The price increase would be in the region of 100k. Would the creditors want all of their money back or just what is in the paperwork ie 30p in the £.

How hard is it to release equity in your property to pay off your IVA. ?
Will your existing mortgage company eg Halifax give you more money on your property even if you have an IVA as they have to do a credit check on you.