My IVA should've finished Dec 2014 but the company are asking for more paperwork. I own a property (but have never lived there) the iva co asked for current mortgage statement to work out terms of settlement, I sent this to them. The original IVA company I started with noted that a sum of 9.5k would be paid at end of IVA and I belorbs that to be the closing figure, however new IVA Co are saying that they now want more paperwork from me to finalise closing balance or my IVA may be extended by another 12 months. Can they do this?
It will be in your proposal. Usually, if you own a property you will be required to release equity, or, as is usually the case these days extend by 12 months ( which usually works out less expensive.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks. The original proposa/ agreement did state the sum of £9.5k to be paid and at the time the equity in the property realised this but the company who I'm dealing with now is not the company who issued the proposal and I feel like the goal posts are being moved and I don't know where to go to seek help. I've tried money advice, step change and CAB but don't seem to get anywhere.
I have called them and emailed them but this new company are not as helpful as the original company and the replies I get are not clear and I'm left feeling that they just want to carry this on as long as possible to earn their commission. I know it's my fault I'm in this situation but Im worried that they'll force me to sell the house. I don't know where to go for help.
