I have just heard from DFD that my payments are staying the same for my fifth year. I have had my report and it says the remortgage of £9000 is due now. My IVA payments would finish in June 2015. If I was able to remortgage now would I give DFD the lump sum now are after final payment? Not that I think we will get a remortgage!!
If you cannot remortgage the usual alternative is an extra 12 months payments. What does it say in your paperwork? If it is not included there the creditors could be asked to agree to this.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Mine says the same. I have an appointment with our bank over the phone next week. Select are meant to be contacting me through DFD but my other half is starting to get twitchy and can't see light at the end of the tunnel. He can't face paying an extra 12 months as things have been hard the last year!!It is in my name but the mortgage is joint. Should I go down the mortgage adviser route myself?
Forgot to say I signed to change to the 2014 protocol so they will also try going down the secured loan route which my hubby would not agree to as it is a joint mortgage. Been told I would be in breach of the agreement and would need to ask creditors to approve an alternative method of payment by extending the term!!
If your husband will not agree to the loan, the only alternative, if your creditors agree, is the extension. Well --- there is the unthinkable option, which is failing the IVA .. which would be criminal at this stage. Hopefully he will get a handle on that twitch!
A year looking forward might seem daunting, but in the scheme of things, it isn't that long -- look forward to being debt free.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
