Have paid last payment, how does it work if you have any equity ?

Get expert opinion. This is the place for new questions to be posted.
11 posts Page 1 of 1
 
 

Daviddn59

User avatar
Posts: 9
Joined: Tue Jul 07, 2015 2:57 pm
Location:

Post by Daviddn59 » Tue Jul 07, 2015 2:57 pm
havepaid last payment ,how do the work out if you have any equity on your house ,
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Tue Jul 07, 2015 3:00 pm
This should have been addressed in month 54 and you should know by now. If there is equity that cannot be raised then an extension of twelve months is comnmon. You will need to speak to your own IP to find out what has happened in your case.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Jul 07, 2015 4:48 pm
As Michael said, this should all have been sorted by now -- Might I ask who you are with ?

What will be needed is a current valuation of the property along with a mortgage redemption statement, but different IP's go about this different ways, so you do need to get your IP to wake up !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Wed Jul 08, 2015 9:50 am
...Or keep your head down and wait for your CC...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Daviddn59

User avatar
Posts: 9
Joined: Tue Jul 07, 2015 2:57 pm
Location:

Post by Daviddn59 » Wed Jul 08, 2015 10:04 pm
It was a 36 mth iva with Creditfix and I had to let them know it was my last payment
 
 

relieved33

User avatar
Posts: 1166
Joined: Mon May 18, 2009 7:22 pm
Location:

Post by relieved33 » Wed Jul 08, 2015 10:22 pm
Three years seems short and I don't think you should have to tell them you have made your last payment! Are you sure it's an iva? Are you on the insolvency register?
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Thu Jul 09, 2015 8:56 am
If this was a three year IVA then there must have been a reason such as retirement or you were to pay the debts in full. Your proposal should explain everything that needs to be done.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Thu Jul 09, 2015 9:28 am
Hi David I suggest you need to check your paperwork first.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Daviddn59

User avatar
Posts: 9
Joined: Tue Jul 07, 2015 2:57 pm
Location:

Post by Daviddn59 » Sat Jul 18, 2015 7:57 pm
do you think a should tell Creditfix that am not happy with a 2 year extension and ask them to put A 1 year extension to the creditors
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sat Jul 18, 2015 8:05 pm
What does it say in your paperwork ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Daviddn59

User avatar
Posts: 9
Joined: Tue Jul 07, 2015 2:57 pm
Location:

Post by Daviddn59 » Wed Jul 22, 2015 9:47 pm
check paperwork it's up to there discretion have spoke to Creditfix and am happy with there explanation of everything as long as it's true another 2 years and that's the end so roll on
11 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”