Hi guys I'm in my 4th yr with my IVA and they have written to ask me to remortgage my house as per the agreement signed etc I didn't sign up for that my understanding was that after 5 yrs of paying a fixed sum my debt problem will be over now asking me to remortgage is to get into another debt and I don't even think I can be able to remortgage as I have a secured loan of 70k on the house I'm really stressed out now can you offer any advice what do I do?
Hi. The first thing you should do is sit down and read your paperwork to see exactly what you agreed to when you signed. It will set out the options available to you under your own arrangement. No0one is able to remortgage these days, and the most often outcome is a 12 month extension.
You will need to get a valuation and current redemption figures to see if there is equity in any event.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
