This month we though was our final payment, company say we may have to do another year.

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Emma.jr

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Post by Emma.jr » Sat Nov 01, 2014 1:14 pm
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This month we though was our final payment, and just contacted the company and they have said we may have to go into another year. We have paid over £900 per month for five years, never missed a payment, not taken any payment breaks. Also looking into taking any equity from the home. So unsure if it's finishing or not.
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Shining

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Post by Shining » Sat Nov 01, 2014 1:18 pm
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Hi, is the extra year in lieu of equity as that is often the case due to it being impossible to remortgage. Clarify this with your IP.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Foggy

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Post by Foggy » Sat Nov 01, 2014 1:34 pm
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Hi. The equity position will be detailed in your paperwork ( proposal and Chairman's Report ). It is usual for equity to be released, attempted to be released, or a 12 month extension agreed in lieu.

This should have been addressed 6 months ago.
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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kazzafunk

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Post by kazzafunk » Sat Nov 01, 2014 1:45 pm
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Hi Emma - do you have equity in your home?
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
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