I am starting an IVA and as I am retired I will not be able to remortgage.

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Mary.42

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Post by Mary.42 » Thu Sep 11, 2014 12:12 pm
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hi i am about to enter an i v a plan i am retired and will not be able to remorgege at the end of five years wil the remainder of my dept be written off
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Foggy

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Post by Foggy » Thu Sep 11, 2014 12:38 pm
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Hi Mary. You should discuss this with your IP before the proposal is drafted so that these circumstances can be considered beforehand and discussed with you fully.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Michael Peoples

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Post by Michael Peoples » Thu Sep 11, 2014 12:39 pm
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It is almost certain that your IVA will run for six years and then the debts will be written off. Your IP should really explain this in detail. If you do have equity make sure the proposal is affordable otherwise it could fail and you could be made bankrupt.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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