7 months after we were told our IVA had finished we have been contacted about equity release

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1
 
 

Michael.ch

User avatar
Posts: 1
Joined: Sun Jul 20, 2014 3:12 pm

Post by Michael.ch » Sun Jul 20, 2014 3:12 pm
We made our last payment in our iva in dec 13.
We were written to in dec 12 explaining that the iva would in fact finish on that date. Also in that letter it stated the amout of equitiy in the property. This was at the time morgage 83000 property value 10300.
Since the final payment was made they have asked us to sign a ppi agreement. Then yesterday we recieved a letter from our iva company informing us that a brooker will be in touch to discuss equlity release. That's 7 months since we made our last payment. My question is simple can they do this as the avi is now finished(and that is what they lead us to beleave 12 months prior to our final payment)
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Jul 20, 2014 3:17 pm
Hi -- if equity release is in your agreed terms, then, yes they can do this.

I understand that you have made what you believe to be your final payment, but, have you been issued with your certificate of completion? If not then the IVA is not finished.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”