So glad I didn't just go along with IPs original email stating there was £5k equity in property based on an online valuation Had an actual valuation done (by whoever SC deal with) and IP has confirmed there's less than the £5K, and therefore ends on 5th year! There was a 10K difference between onlin...

Have they always been bad or only recently? I've been with SC for nearly 5 years, they've been fine but since covid everything has slowed down in terms of getting responses - but I assume they're possibly running on skelton staff (or were once it hit) or just extremely busy because of the times (my ...

Thanks Ryan & foggy for the replies, most helpful. I was looking at Loqbox purely because I can save and also repair credit at the same time (so I thought), instead of going down the CC route. I was planning to see what what my current mortgage lender would say for a remortgage (after IVA finished b...

Thanks lulu Do you know if it's possible to improve your credit score once the IVA has finished but not completed, so between year 5 and 6? I was looking into something called Loqbox, which is a saving/loan thing which you pay monthly into but they also report to the main credit agencies each month ...

Hi, My IVA is coming to an end shortly (deep sigh!) and decided to look into my credit score (possibly should've done this alot sooner after reading foggy's credit write up). Using Credit Karma, I'm surprised that my score is that high (531/710) considering the IVA, is this something to question/wor...

Very interesting, thanks again foggy, I'll have a proper read of that.

I assume these extra terms covering the coronavirus get applied to any iva, or would that be up the particular IP?

Thanks foggy! That all makes sense. I started my IVA beginning of 2016 but would have to check which version of terms I'm on. I'm going to book in some valuations and go from there. The email just came across a bit unprofessional, are they just trying to see if I'd go along with the equity release k...

Hi, After providing my current redemption statement to my IVA around a month a go they've now come back with the below email... "The estimated amount of equity in your property is more than £5,000 so you need to apply for a re-mortgage or secured loan with a lender of your choice". The whole email s...

I think agents are now doing house valuations but I'll hold off booking one as the IP hasn't asked me for a valuation yet.

I'll get the redemption sorted and sent.

Thanks again foggy!

Thanks for the responses! The £5k equity is going to be close - if they take the online valuation then it'll be another 12 months, but as I've said that valuation seems overly optimistic, it's like they took the last house sale in my post code and used that! All previous sales were like £10k less. E...

Hi, I've now reached the point in my iva where the IP are asking for a mortgage redemption. Looking at my options there's 2 differing types, an illustrative redemption or a Final Redemption Statement. The email from my IP doesn't specifically say, so does it matter which I send them, is there a bett...

I've found my previous previous budget review, low and behold they've used my initial agreed payment to work out my surplus on that one too. They've also gone quiet on the email front. Unless somethings changed (surely I'd need to agree on it?) then they've incorrectly used my current payment this t...

Thanks both for the replies ☺️ I think this is where the discrepancy lies with my new monthly - last year when working out my monthly they used my initial payment when my IVA commenced to work out this surplus, in which I'm allowed 50%. Yet this current one they've used my current monthly amount, wh...

Couldn't agree more! I'm still awaiting a response from IP after asking about the figure. Quick question if I may - there's this paragraph in the budget review, which could have a bearing on the calculation they've used - "You’ll also notice an area of your budget called the net surplus adjustment. ...

Thanks for the response Foggy. My current payment compared with my initial payment in 2016 is £180 more and that's never been a problem., because expenditure has been fairy consistent. But with my expenditure increasing for next year I can't see how they've come to a reduced payment of £65 less. Isn...