Creditfix state that there may be up to another's years payment. Pleased to hear views on this.

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Darren.z

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Post by Darren.z » Sat Dec 20, 2014 9:38 pm
hi we are into our last year of our IVA,ourlast payment should be on the 31oct 2015,we are now being told by creditfix who we have it with,there could be upto another years payments once our payments have finished,we understood that they was taking payments out of what we paid each month,obviously this is now not going to happen,more to the point why can it happen,and should i make the payments for another year,be pleased to hear your views on this many thnx
 
 

hubert

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Post by hubert » Sat Dec 20, 2014 9:53 pm
Hi and welcome to the forum.

Have you been with CF since the beginning?

Have they explained why there might be another year of payments to make?
One pay-cheque away from oblivion!
 
 

Foggy

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Post by Foggy » Sat Dec 20, 2014 9:54 pm
Hi. Are they talking about equity release ? Do you own or rent your home ?

If you own you are required to attempt to release some equity or pay 12 months extra in lieu if attempts to remortgage fail.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

kazzafunk

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Post by kazzafunk » Sat Dec 20, 2014 10:50 pm
As Foggy says it may be in lieu of equity release.

This should be written down in your original proposal.
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
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