equity release

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mummyjosie

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Post by mummyjosie » Thu Jan 09, 2014 1:32 pm
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Hi there, happy new year everyone, i have recieved a letter today from our iva company about trying to release equity.
it says
following a review of your case it may be possible to realease equity to allow us to contact your creditors with a view to successfully concluding your iva earlier than anticipated, as such we have referred your case to a specialist broker,the select patnership.
Just wondered if anyone else has been sent a letter like this before?We started our 5th year in december.
many thanks
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villapb

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Post by villapb » Thu Jan 09, 2014 1:36 pm
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Be careful another ip changing the goal posts, dont do anything your not happy with, your trying to get out of debt not into it........
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back on track

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Post by back on track » Thu Jan 09, 2014 1:45 pm
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who you with?
cc received 6th January 2014 now upwards and onwards
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mummyjosie

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Post by mummyjosie » Thu Jan 09, 2014 1:52 pm
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i'm with DFD
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Foggy

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Post by Foggy » Thu Jan 09, 2014 2:43 pm
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DFD are doing this a lot lately -- some have benefited, but each case must be looked at closely on it's own merits.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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MelanieGiles

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Post by MelanieGiles » Fri Jan 10, 2014 1:11 am
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Unless your proposal states otherwise, the option of a secured loan should only be used if you feel that this is a better option for you than paying ongoing payments.

The Select Partnership are a very reputable company - I occasionally refer to them myself, but do weigh up the options and calculate the actual cost of repaying a secured loan over its term compared to the cost of the additional IVA payments.
Regards, Melanie Giles, Insolvency Practitioner
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