Hi, Freeman Jones want to extend my IVA

[Bruce.c]

Hi freeman Jones want to extend my iva because the equity in my property is just over �300 above �5000. Can they do that

[Foggy]

Yes, or you can release the equity if possible. This is as agreed in your arrangement.

If you disagree with their valuation it might be worthwhile paying for one of your own if you can get the equity below £5000 ( assuming you have the £5k de minimis clause) you could save a years payments, assuming FJ agree with your lower valuation.

[Shining]

Hi and welcome to the forum.

Did you action the valuation yourself. If not, I would get a forced sale valuation and ask FJ to consider this rather than their own.

[Spencer.Last]

Hi Bruce.c

My name is Spencer, I’m part of the team at Freeman Jones.

I was able to locate your case and I can see that you have spoken to your Relationship Manager this morning.

We are happy for you to provide an alternative valuation for your property, however we will need to supply a full valuation to your creditors as per the terms of your IVA.

If you have any further questions please feel free to contact us and we will be more than happy to help.

Regards

[Foggy]

Hi Spencer. Out of curiosity, what do you use to arrive at your valuations (in the absence of one supplied by the client) ?

[Shining]

Hoping you get this sorted very soon.

[Spencer.Last]

Hi Foggy, we use real time valuations online, although we’re happy for customers to provide their own official valuation if they’re unhappy with the valuation we obtain for them.