www.iva.co.uk

Hi all. I posted recently about an extension to our iva by another 12 months which was up 2 months ago. I had as telephone conversation with my company who now want to realise the equity. Fine. Only I sent the valuations in 6 months ago and they were asking where they were. b***** hell I thought. So they eventually found them. They then said someone would call in a few days to go through process. Guess what? 3 weeks later I'm still waiting. This means an extra 2-3 months payments!!!

Hi -- what was the extension you mention above for ?

I assume they are now looking at your equity, which could lead to a further extension ..... is that correct ?

If so these extra payments you are now making will go towards that extension ( so you will be a quarter of the way through already.

If you do not need an extension then they will be refunded.

Hi Foggy. The 12 month extension was for a sanctioned 4 month payment break

What ? 12 months for 4 ! Your IP is taking liberties I think.

Still, what was agreed was agreed, I guess.

Who are you with, may I ask ?

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by steve9864

Hi Foggy. The 12 month extension was for a sanctioned 4 month payment break

Are you having a laugh?

Paying an extra 12 months for missing (or being allowed to miss) 4 payment?

As Foggy said, they're taking the P.... unless the amount of the missed 4 payments has been split in to 12 equal amounts...?

Hi guys. Am with creditfix now but was with SDS before. And it wasn't agreed with it was already sanctioned in the letter I received. I didn't know, and wasn't told I could challenge it.

Not been on here for a while, but reading about some of the ways IVA companys are running/dealing with their customers IVA's I sometimes feel there is going to be a big issue like PPI soon.

Some of the ways they are treating their clients seems pretty unfair to say the least.

I guess a lot of the companys feel they always have the upper hand because we got ourselves into the debt in the first place.

One day though somebody or some people are gonna challenge the way ther are being treated by their IVA firms.

Baldy

Just had a call from CF about my equity release. Apparently a third party company is trying to secure a loan on my property to pay into the iva pot. This costs me nothing. And will be paid back if and when I sell up. Is this right?

Steve - which company is arranging the loan - you may find there is a a massive amount of interest on this loan as well as capital - which will eat away at your equity if and when you sell up

Steve, sounds very wrong to me. Please check the interest rate and how much of your equity is at risk when you do come to sell.

That sounds dodgy at best !!!

Hi guys.
Was also told by CF that I didn't have to accept the offer and to continue my payments for another 12 months. Which seems the better course of action to me.