I am currently 4 years into a 6 year IVA I have been reading that I may well be asked for any equity thats in my property at the end of the 6 year term
but have also been told that only happens on a 5 year term im confused can someone help
If your IVA was originally 6 years [N Rock always asked for this] then your equity would be determined in month 66 and not month 54 as in a standard 5 year IVA. This does mean your IVA can go into a seventh year if there is equity you cannot raise. If there is equity now you could consider trying to raise some for a full and final rather than having the IVA going on another three years.
