Myself and my partner are in our last year of an IVA (with Creditfix) I was told in Feb 2014 that out last payment would be at the end of Nov 2014. I then got a phone call in June from Creditfix stating that a variation meeting had been held and we would have to carry on paying till the end of Nov 2014. At the weekend I got a letter asking for a copy of our mortgage statment to be sent to Creditfix. I have just called them to ask why and they have told me that we will have an extension for 12 months and they want to see what equity is in our house. I informed them that I was told we would stop paying in in a couple of months and this is not been looked into. Has anyone else had this experience? Our total debt was £34,217.14 and to date we have paid off £33,624!
Hi. Regardless of which company you use, if you are a homeowner, equity release is always looked into. Your proposal paperwork will have the details under "Equity Release".
Under an IVA you will always owe the total original debt, plus fees and possible statutory interest, so, on those figures you still have some way to go before fully paying these things and a 12 month extension looks likely to go ahead.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi. I am also with CF and they did the same to me. Told me I March last payment would be August as we had already had extension of 12 months. This was relayed by a junior clerk who was not qualified to give advice. All CF said was sorry but you have to pay.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Sarahdw83
Myself and my partner are in our last year of an IVA (with Creditfix) I was told in Feb 2014 that out last payment would be at the end of Nov 2014. I then got a phone call in June from Creditfix stating that a variation meeting had been held and we would have to carry on paying till the end of Nov 2014. At the weekend I got a letter asking for a copy of our mortgage statment to be sent to Creditfix. I have just called them to ask why and they have told me that we will have an extension for 12 months and they want to see what equity is in our house. I informed them that I was told we would stop paying in in a couple of months and this is not been looked into. Has anyone else had this experience? Our total debt was £34,217.14 and to date we have paid off £33,624!
Thank you both for coming back to me. I have just called CF again to chase up what is happening and the lady I just spoke to apologised as I shouldn't have been told our last payment would be in November. Feel heartbroken about this as had my heart set on starting 2015 DEBT FREE! It is now with the 'mediation team' who are looking into this and will call me back to update me. steve9864 if you don't mind me asking have your payments changed at all? Just wondering if by chance ours may come down at all!
