Hi Peter.gr......I would also be interested in having one of the experts explain what happens to the equity release clause....does the F & F payment clear the IVA and the charge over your property OR do we still have to raise funds via remortgage etc to release a certain level of any equity. Thanks

Thank you Melanie and Michael......I think I will ask him to hang on to the money and then look to try for a F & F in 6/9 months time. Thanks to all for the replies.....we are gradually edging toward the end!!!

Thanks Michael......I think £5k would be well short of an acceptable F & F.......going to have to give the matter serious consideration and decide what is best for us (and him!)

Morning everyone. Our son has had a modest windfall and has said that he wishes to give us £5000!(he is unaware of our IVA). Can we accept such a gift and pay his cheque into our bank account and use the money for home repairs/change of car without our I/P 'chasing' us at some in the future? Many th...

BROKBRYN....it is absolutely shameful that you have been put in this position!!!!!!...I am also with PAYPLAN but have a few years to go!!!! Have you thought about taking legal advice (NO WIN - NO FEE????)...I am sure that a good lawyer would be able to tear PayPlan and/or the creditors to bits???......

Melanie......totally agree!!!but I am also with PAYPLAN and I am becoming increasingly concerned at their attitude - as many have said,,,,their approach over the last year or so has become much harsher. Not only are they less considerate but they seem to be on a mission to get more and more out of u...

YES Kazza and Footiemad...it is very concerning that our I/P's (no doubt under pressure from creditors) are quite happy to GRAB any additional income i.e.rises in income, windfalls etc.etc BUT if and when there is an increase in mortgage rates (which could have a profound effect on our ability to co...

Hi newbeginnings........I could be in a similar situation (hopefully!) and would be interested if any of the experts could give further guidance??

Morning Foggy - thanks for your reply. You have sent me searching for our original documentation which have no mention of 'interlocking' and are shown as not linked????...as far as I am concerned they are dependant upon each others income etc. They are both standard consumer IVA's and in each indivi...

Hi everyone......my wife and I have 'interlocking' IVA's (in our own names)....does this mean that we both 'keep' 15% of the equity OR is the 15% shared between both of us??...just being hopeful!!!!

Hi there - not a regular poster but often view the very helpful postings. Was surprised to receive a call from PayPal requesting 2nd annual review even though it is not due until the end of July! Is this normal??. What would happen if we have a major expense (e.g. car repair etc.etc)before then?.We ...

Just seeing if my countdown is working.....all going well so far but it's going to be very tight over Xmas!!!!

Hi all. We will soon be coming up to our first year review and as mentioned on this board we have managed to make savings by 'shopping around' and getting cheaper fuels, petrol, food etc.etc (we have been a lot more frugal than pre-IVA!!) but am concerned that when doing an up to date income and exp...

Jan we are with Payplan and our first review will be in June.....our incomes have no increase this year but whilst in the IVA we have worked hard to reduce expenditure e.g.Home and car insurance, heating and electricity, car usage etc. when we get our review form(?) will we have to tell our I/P of t...

Thank you Michael....had me worried there....Phew!!!