I'm 4 years into iva and just found out I'm pregnant with twins, my home isn't large enough to accommodate twins plus my 2 daughters my parents have very kindly said that they will pay for an extension for me! How will this affect my iva!
Congratulations - I got mine when they were teenagers.
The extension might affect the equity valuation when it comes to month 54 and whether you can release equity or extend for 12 months.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
You can start the spade work now, I assume there won't be much actually constructed until after the month 54 valuation ( which would be great). It depends upon whether you are close to the £5k equity trigger (depending upon how your own clause is worded)and if an extension would tip you over it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Do you know the current value of your house? When are the twins due? As Foggy says, you could start the work but then hang on until after the valuation.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Oh how wonderful. As the others have said it very much depends on the current valuation as to how this will affect your situation. If you are close to the £5k equity mark I wouldn't start any works until after the month 54 valuation. Obviously you could get the plans etc drawn up beforehand so that you're ready to go as soon as the equity clause is sorted. Make sure you read your paperwork thoroughly now so that you don't get any nasty surprises later! Good luck - exciting times ahead x
By the time planning permission is given and building works start it will surely be after month 54 ..... good luck and congratulations to you all ...double bundle of joy coming your way xx
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Can't believe they will be seven next month Lesley!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
