Hi just been informed in our 72nd month of payments that we have to try to release equity. Although we were aware of this we thought after 5 th year and not hearing anything about this they had automatically just made us complete a 6 th year of payments . Absolutely gutted to think we have another year of payments as on bread line making payments
Hi Lexie. It sounds as though you were in a 6 year arrangement from the start. Have a look at your Chairman's Report -- any changes will be detailed in there.
For the benefit of others in a similar boat --- silence on a matter from your IP means nothing other than they haven't mentioned it. The onus on complying to the terms of an IVA is on you, not the IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Agree with Foggy - hopefully you will have no equity so won't have to continue
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