I have obtained two property valuations £93000 and £95000 so working of the £95000 Ive worked the figures to be based on the following maximum equity £5337.10 (de minimis threshold £5000) 85% gross equity £4536.54 based on the total equity the sum owing would be £337.10 due to the de minimis clause ...

I have done but they state its £5000 gross equity in the property not the equity share as indicated in the print

23. The debtor’s property is to be professionally valued shortly after the fourth year anniversary of the arrangement. The debtor’s equitable interest is to be realised and paid to the supervisor before completion of the arrangement. The interest is to be calculated at 85% of the debtor’s share of t...

Im after some help understanding the equity clause. Im in an interlocking IVA with my husband the 60th month is October but we have the equity clause. The IVA company creditfix has advised that the full contribution will continue for a further 12 months. based on property value £96,000 mortgage red...

Im fingers crossed an praying thankyou for your input. I have just e-mailed a copy of my letter so waiting patiently. Ive put it this way.. To whom it may concern, We xxxxx xxxxxx and Miss xxxxx xxxxx Would like a re-evaluation to our 12 months extension on our IVA. Please consider the following: As...

Im going to ring the courts this morning, to see if the can have someone advise me on the literature from the section 6 of the chairman's modification. If they can't help I don't know which way to turn. I have written my letter highlighting and underlining, the areas of misleading statement from thi...

They have received their own valuation £2000 above that I have received.. thats which makes the next 12 months extension. Ive got in touch with two more estate agents and have asked for a written quotation based on how the house stands today the house needs a full re-wire to comply with regs (2 smal...

Back so soon.. No getting out early they see in the lines that potentially I have nearly £6000 equity Top line property valuation.
the £5000 is based on the property not on each candidate.
The 12 month extension is in the post to be signed boohoo.

Great thanks for your help. I will contact them once again an see if they can explain the meanings of : the property shall be remortgaged to a maximum 85% loan to value less existing secured borrowings. A re-mortgage of less than 85% loan to value is allowable where the lower realisation will introd...

Thanks after many more phone calls I've got a copy of the chairman's report from the Iva company After month 54 of the arrangement the supervisor will obtain a professional valuation of the property. The debtor will then obtain two remortgage quotes from reputable brokers / lenders to satisfy the su...

This would be typical the only piece of documentation I dont have and according to credifix they cant find either

he property has been written down by 25% in bankruptcy due o a possible forced sale.

I have no idea what this means

In my agreement under Equity in the property states.. the debtors are obliged, where possible, to release the equity in the property per the terms of the modified proposals[?] The equity is to be introduced after month 54 of the arrangement's following a valuation of the property at the end of the p...

We're in our final year of our iva last December a new company took over other than the initial letter we have had no correspondence from them so now we're in September with my iva due to conclude the 5 years in October I decided to ring an find our what we do now. After being passed around the diff...