Foggy wrote:

Yes, the generally accepted method is Open Market Value x 85% less outstanding mortgage and secured lending = available equity

thank you, and thank you for your help & advice

Sorry to repeat myself but can you confirm how much equity there is in your property? If you can show it is less than £10k then the extension may not be applicable and you may be able to complete your IVA now instead of paying another 12 months... there is more than £10k :-/ sorry me again. is it n...

Lisa Thomas wrote:

Sorry to repeat myself but can you confirm how much equity there is in your property?

If you can show it is less than £10k then the extension may not be applicable and you may be able to complete your IVA now instead of paying another 12 months...

there is more than £10k :-/

kallis3 wrote:

At least you can see the light at the end of the tunnel!!

cant see it just yet :-/ roll on the next 12 months

They have actualy been in touch and have informed me that a 12 month extension is required and will start as of November. Can I please ask would the monthly extension normally be the same amount as we were paying over the 5 years does anyone know?? tia It should be the same as you were paying at th...

They have actualy been in touch and have informed me that a 12 month extension is required and will start as of November. Can I please ask would the monthly extension normally be the same amount as we were paying over the 5 years does anyone know?? tia

Cobby if you are in an interlocking IVA then the total joint equity could be less than £10k (5k) each for the equity clause to kick in. How much equity is there and is this based on a valuaiton? We are unable to re-mortgage anyway so surely the equity part of it doesnt come into it now?? surely it ...

Cobby if you are in an interlocking IVA then the total joint equity could be less than £10k (5k) each for the equity clause to kick in. How much equity is there and is this based on a valuaiton? We are unable to re-mortgage anyway so surely the equity part of it doesnt come into it now?? surely it ...

Freeman Jones wrote:

Thanks Cobby1994 (and thanks Foggy).

First of all I apologise that we seem to have dropped the ball here. Please do email me via ian.williams at freemanjones.com and I will investigate for you.

I look forward to hearing from you,

Thanks,


Ian

email sent thanks

Is it materially more than £5k and is that just for your share or joint? Is that based on an actual valuation? If so then it's likely the 12 month extension will apply and you have 12 more payments to make... Its a joint mortgage and joint iva, Freeman Jones use a certain site apparently they use f...

Is it materially more than £5k and is that just for your share or joint? Is that based on an actual valuation? If so then it's likely the 12 month extension will apply and you have 12 more payments to make... Its a joint mortgage and joint iva, Freeman Jones use a certain site apparently they use f...

First, you should have not stopped payments without the agreement of your IP. The equity situation should have been addressed at month 54 and, in the absence of any action by your IP, it is your responsibility to have carried out what was agreed in your proposal --- if the IP fails to respond, at l...

First, you should have not stopped payments without the agreement of your IP. The equity situation should have been addressed at month 54 and, in the absence of any action by your IP, it is your responsibility to have carried out what was agreed in your proposal --- if the IP fails to respond, at l...

stanley2018 wrote:

Which company are you with buddy? ?

we are with Freeman Jones

<t>we made our last payment on our 5 year iva in January this year (2018). heard nothing from what so ever until 1 month ago when i contacted them to ask what was happening as we had been paying for 5 years and they had not been in touch for months and months! was told via email that i needed to see...