My debts were small but I lost my house

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sean

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Post by sean » Thu Apr 07, 2011 7:19 am
can a IP ( PwC ) reffuse payment or reffuse to let you do in IVA within the first year, My debts were small but i lost my house with IP charges ( i had lots of equity in my house )
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Sean
 
 

kallis3

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Post by kallis3 » Thu Apr 07, 2011 7:51 am
Hi Sean,

Can you elaborate a little more? Your IP fees will have come out of your monthly payments. Were your payments set too high?

Did you actually get any money back from your house? I presume it was repossessed and has possibly been sold?
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
 
 

Broke of London

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Post by Broke of London » Thu Apr 07, 2011 9:04 am
Hi - I'm not sure what you mean by "do in" your IVA? The IPcharges wouldn't have been any higher than those you signed up to in the proposal/ chairman's report. Also yu wouldn't have paid across more equity than sufficient to pay your total debt plus fees and possibly interest. Can you explain a bit more? X
 
 

Michael Peoples

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Post by Michael Peoples » Thu Apr 07, 2011 9:50 am
It appears 'Sean' works for Myvesta as I have looked at previous posts and the queries clearly relate to different IVA scenarios. I am wondering if these queries are actually his or are they ones submitted to other sites and he is looking for help in answering them.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

plasticdaft

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Post by plasticdaft » Thu Apr 07, 2011 10:00 am
With enough equity to cover debts there is no insolvency and a restructuring of debt would be favourable.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

kallis3

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Post by kallis3 » Thu Apr 07, 2011 10:25 am
Thanks for clearing that up Michael.

If that is the case then we don't mind answering the questions but it would be appreciated if more detail were posted in the first instance.
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
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