Can this actually be true to put someone in 15 years more debt ?

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

Mark.71

User avatar
Posts: 1
Joined: Fri Aug 21, 2015 10:50 pm

Post by Mark.71 » Fri Aug 21, 2015 10:50 pm
Hi my sister is just coming to the end of her 5 year iva and she has been told that she has to remortgage her house after being told this was not possible she has now been told that she more or less has to take an 11500 loan for over 15 years which to me seems unbelievable I thought an iva helps you get out of debt is this right can this actually be true to put someone in 15 years more debt
 
 

Foggy

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

Post by Foggy » Sat Aug 22, 2015 8:28 am
If she is on the old protocol and has not signed anything bringing the new protocol into effect she cannot be forced to take a secured loan. I would imagine her agreement is along the lines of remortgage or 12 months extension to the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”