Do I need to to Release Equity?

[markyparky]

Hi,

Just completed 4 years in IVA and all going fine but understand I may need to release Equity (about 30k).
My question being I checked my Protocol Compliant which reads;
Duration,60 months
IVA Value xxxx
Equity to be released, ZERO
Date Equity release, Month 54

I'm confused, do I need to release equity or not?
Your help would be gratefully received.

Thanks Mark

[Foggy]

Odd that they would place equity at zero from the off, assuming there are no other off the wall factors.

In the actual body of the document are there clauses as to equity release ?

Were there any mentions of equity in the Chairman's Report ( as this will override the proposal ).

[markyparky]

Hi Foggy,

Yes there are notes regarding the release as you suggested.

Thanks for your help, Mark

[Michael Peoples]

If you wanted to think about closing the IVA early you could contact Shaun Vickery and raise some funds by way of a secured loan. Some people prefer to do that rather than doing the full six year IVA.