Hi I have my iva with Grant Thornton,I fell behind with my payments by 4 months due to ill health and not able to work, encouraged to play catch up and told that I only had £2,158 to pay,got 1 payment left to make now I get a letter saying I need to try and re-mortgage, My ^ years is up in September, this company is a nightmare to deal with, don't respond to letters or emails. any advice would be greatly appreciated.
Hi. If you own a property it is usual practice to attempt to remortgage in the final year. At the moment ( though this can change) this is impossible and usually results in the IVA being extended by 12 months if there is equity to address.
This will all be written within your agreement. Have a read and see what it says.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Foggy thanks for the info, can you tell me if GT should give us a total repayment figure as I ask three times last week and could not get any thing out of them, and also it does not seem that they have taken in to account the money from PPi that Nat West deducted from their debt.
A total repayment figure would be meaningless as this will cover your total debt, fees and statutory interest. What you have due under the terms of your iva is simply the number of months left multiplied by your repayment, plus equity ( which you will not be able to release)so another 12 payments in lieu might be added.
If PPI was offset by Nat West, it will not appear in your IVA account, but will result in Nat West having claim to a smaller dividend ( which will increase that to the other creditors).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
