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Posted: Tue Jul 14, 2015 1:07 am
by Davedn9
My wife and I started in a joint IVA in December 2009, and approximately 2 years ago agreed to adding a further year to term of teh agreement (increasing it to six years rather than five) as my wife was unable to secure full time employment, which was a condition of the original agreement. We have just had to have a valuation performed on our property and have been advised that there will not be any equity to release. Will the IVA simply cease in December this year, if circumastances remain unchanged, or can the IP insist on a further year?
Posted: Tue Jul 14, 2015 5:16 am
by Adam Davies
Hi
Your IVA should conclude in December, no reason to extend further if there is no available equity
Regards
Posted: Tue Jul 14, 2015 7:38 am
by Foggy
It should not be extended with regard to equity release and should conclude at the end of the year.
Posted: Tue Jul 14, 2015 12:00 pm
by Lisa Thomas
Hi Dave As long as IP confirmed no equity and everything else all in good order then sounds like you will be finished in time for Christmas (subject to receiving your CC!)
Posted: Tue Jul 14, 2015 8:32 pm
by Davedn9
Just wanted to say thanks for the replies. We can finally see a glimmer of light at the end of a very long and dark tunnel!!! It's been a long and painful road, but it was our fault that we were on it in the first place. Hopefully six months and we can breathe easier again.
Posted: Wed Jul 15, 2015 9:21 am
by Lisa Thomas
I'm sure it will fly by and before you know it, it will be a distant memory.