I am already on the 6th month of my one year extension and it seems that they still want me to try for a remortgage. Is this possible? On my fifth year on the IVA, the price of properties was down and because of this, they suggested that I must extend for another 12 months...Now the price of properties have gone up, they want me to obtain a mortgage statement so they can assess the amount of equity I have.
Tell them to take a long walk off a short plank. You have already complied with the equity release provisions and were granted an extension in lieu of equity. This extension effectively releases the property. They cannot have another bite at that particular cherry !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The tricks some of these `companies` are trying on are quite staggering and show no signs of diminishing, quite the opposite in fact.
The senior people at the companies responsible must have `business lunches` were they devise new, innovative ways in which they can attempt to shaft people so they can try and wring out as much in fees as possible.
The complete disregard these people have of the potential financial and life consequences for their `clients` should they fall foul to their attempted scams is quite staggering.
Why is it ok for some IP`s and insolvency companies to attempt to completely flout and ignore the legally binding arrangements they drafted and proposed???
What would happen if, at equity release time, WE all told our IP`s that WE had decided to change the terms of our IVA`s, and that WE were`nt going to attempt to release equity after all?
We all know what would happen, so why can`t these companies just comply with the IVA`s as we have to and indeed do.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
You have complied with the clause by the sounds of it Errolynn so they cant make you do this. Would you be prepared to say who your IP is? Anyway as others have advised, tell them no!
Hello everyone! Thanks for your replies...I have contacted them and they said they made a mistake. I requested them to send me an email to confirm this. Ta!
