www.iva.co.uk

I went into an IVA in 2007 and my IP told me I had to release all the equity in my flat. My mum very very very kindly paid the 50k equity into the IVA. Since then, ive learnt that only 75% of the equity is normally payable.

Hi Billy and welcome.

It is not usual for anyone to release the equity until year 4 of their IVA, and then not all of it.

If the whole of the £50k was paid into the IVA, is it still running and if so, how much did you owe?

Thank u for your welcome Kallis

I have a lot of issues with my IP. My IP has stopped communicating with me and is refusing to answer my questions about my doubts how it has all been administered. I owed a lot. Yes, its still running

i thought that IP's were duty bound to be transparent and duty bound to answer questions from ther client

Hi Billy and welcome. Have you actually spoken to your IP about this or have you been unable to told that you can't speak him/her by admin staff?

If you haven't been able to speak to them it might be worth emailing your IP personally - you can find their email addres on the find an IP section of the Insolvency Service website.

thanks Skippy

My IP has referred me to their solicitors, who are also now refusing to answer my questions...

Which company are you with?

i sm really loathe to mention them on here to be honest, as they may be reading all this, and yes, im getting paranoid. i know it is very hard to beleive that an IP could be dodgy, but im starting to beleive in my circumstances it may be true. Like i say, the equity release is just one complaint i have. getting worried!!

im beginning to think i should have gone for bankrupcy, seeing as i effectively lost everything

It certainly sounds as though something isn't right here.

One of the professional experts who post on here will probably be on shortly, and they may be able to give you more constructive advice than I can.

thanks for that Kallis, i hope so too, i badly need some professional advice. thanks

or any thoughts from anyone that has encountered similiar or has a view of any sort on this

I've certainly not heard anything like this before Billy. I can't remember anyone posting about it either.

Same here Jan, this is a new one on me.

Hopefully one of the professional experts will be along soon and will be able to help you.

thanks Skippy and thanks for your comments, im goin slightly insane thinking its just me, but posting here has helped a lot. I mean, you are supposed to trust implicity your IP i thought