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Posted: Thu Dec 29, 2011 10:45 am
by JMK1960
I have 12 months to go. I had a break of 6 months in 2010 due to partners unemployment, I managed £100 during that time and accrued £1958.00 arrears.When partner found work it was lower paid and my review reduced payments by £56.00 per month to £287.00. Will I have to pay this arrears? Also I anticipate approx £4000 equity available at end of term...will they try and make me re mortgage? BTW the IVA is in my sole name not partners, therefore only 50% of equity is available.
Posted: Thu Dec 29, 2011 11:17 am
by kallis3
Hi and welcome to the forum.
You will probably have to pay these arrears back but you are unlikely to be able to remortgage. Check to see what it says in your proposal about remortgaging but I think it may be that your IVA will finish once the arrears are paid.
Posted: Thu Dec 29, 2011 11:19 am
by Shining
Hi and welcome to the forum.
Why not have a chat with your IP and see what breakdown they can give you in respect of when your payments will cease. You're nearly there now and s/he will be able to give you a definite finish date. x