www.iva.co.uk

i . i am in an IVA and found out their is a restriction on my property held at land registry, i have not signed anything!. Also i keep hearing horror stories as regards to the 4th year of iva on releasing equity out of property, How would they do this and can the interest rates be any rate and do i have any choice. i am really panicking. please help

There cannot possibly be a restriction on your property if you have not signed form RX1 giving your express consent - and the implications of this should have been carefully explained to you by your IP prior to the proposals being presented to your creditors.

This is something that you need to discuss with your IP, as it appears that things were not properly explained to you at the time which does give some cause for concern. Try and speak to the IP personally rather than a member of staff, as you will then get advice from the horse's mouth so to speak.

Totally agree with Mel. They can't put a restriction on if you haven't signed anything.

If you cannot get hold of your IP via the phone, you can always email them direct via this link:

http://www.insolvency-service.co.uk/newipsearch.htm

I also received a copy of the RX1 from from the Land Registry when the IVA was up and running to make sure that we had signed the original forms.

That is interesting to know Cath - I was not aware that HMLR actually did that.