full and final settlement

[MelanieGiles]

Your offer will need to take this into account, but so long as you are offering a reasonable return you should have little to worry about.

[hara]

Dearjc1180,

When you make a proposal you can have a clause included to have 4th year remortgage requirement removed.

You can have a read through my posting under heading, Relief, which I have posted recently.

with best wishes.

hara.

[David Mond]

Yes hara - but creditors will not necessarily agree to that, especially if there is equity or potential equity.

[jc1180]

tHANKS dAVID, WHAT HAPPENS IF THEY COME TO VALUE AND THERE IS EQUITY - I HAVE NO IDEA HOW MUCH EQUITY THERE IS GUESSING ITS NOT A LOT BUT I'M NOT A PROPERTY EXPERT. ITS ALL SO CONFUSING. I HAVE OFFERED 9.5K BUT MY IP PROV SAID PROPERTY MUST BE VALUED. BUT I DONT THINK I WOULD RAISE A MORTGAGE BIG ENOUGH ON MY SALARY PLUS THERE IS A CHANCE I MAY BE REDUNDANT OR ON REDUCED HOURS OVER NEXT COUPLE MONTHS - I AM GOING THROUGH CONSULTATION AT WORK - WILL THIS BE IN MY FAVOUR WHEN PUTTING REPORT TOGETHER WITH OFFER?
THANKS

[David Mond]

Absolutely in your favour - so don't worry - the property currently might be in negative equity so get a valuation if your IP requests one.

[jc1180]

thank you all your help is appreciated i will keep you updated on my progress

[jc1180]

hi all just to update you on my progress so far - i had house valued and there is no equity (well 3k but by the time i paid remortgage fees it only left approx 1k that i would have to split with housing assoc as shared ownership) - therefore I offered £9500 - my IP have been very good and said that seemed like good offer as the creditors would get 21p in the pound and my original IVA was 25p in the pound. My report has been drafted and posted - my creditors meeting is 30th July so it really is fingers crossed now - thanks for all your advice hopefully i will be accepted???

[MelanieGiles]

It's looking good from where I sit, and our fingers will be crossed for you.

[MRBLUESKY]

good luck jc1180 looks good .

[jc1180]

i hope so...thanks all - isn't it so difficult - you feel like your life is on hold - its such a difficult position and i know once this is cleared i'll never have debt again, no credit cards, no overdrafts, no loans - because its great when all the credit is being thrown at you but the minute your circumstances change ie loss of job, ex running off with your half of the house profits etc etc etc etc its such a big hole to get out of...i've learned some very valuable lessons and even though i have had some fantastic support of this website i hope soon mine comes to a close and i can start living again...all i seem to do is keep smiling and thinking tomorrow is one day nearer!! xxxxx

[rhondda]

Good Luck

[jc1180]

woo hoo!!!!! certificate of completion received today!!!!!!!! free at last!!!! my christmas has come early....thanks to everyone who has offered me help and advice through my gloomy confused days - i really appreciate it xxxx

[kallis3]

Well done Jane. Look forward to a debt free future.

[MRBLUESKY]

that was a long and winding road,congratulations jane,good luck to the future and merry xmas.x

[kallis3]

Keep us informed as to how you are getting on post IVA Jane.