My IVA is for a total of 6 years as I was told that the 6th years payments were in lie of any claim on my house, in May I was asked to submit a mortgage statement and valuation as part of the IVA I have heard nothing in regard to this accept that yesterday I received a letter stating that I must obtain two re mortgage to release £24000,
I have a letter stating that providing my direct debit payment are paid ok then after the last payment in march this year my IVA will go to closure. since I started the IVA in 2009 I have developed a heart condition and have been adviced to stop work once I reach retirement in 2016,
P.P.I monies have been claimed back by my IVA company and held since October 2013 and I have been told that I am entitled to any interest portion of these but I cannot get this till after the IVA is closed,
Any suggestions are most welcome
Who are you with ? Are you sure the 6th year was in lieu of equity release ( some creditors demand and extra year anyway and the equity release makes it 7 years. Notorious for this is Northern Rock) ?
Interest on PPI will only be paid by some IP's, by agreement, most will keep all of it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
