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Posted: Tue Jul 21, 2015 5:50 pm
by Nigel.rn
my IVA was due to end Oct 2015. there was a provision for a 10k equity release, as this was not achievable the iva is set to continue for a further 12 months at the normal amount of £2350 pcm. seems a little unfair as 10k would of settled it this year. unless i've not read the agreement correctly
Posted: Tue Jul 21, 2015 6:08 pm
by Foggy
The extension should be capped at the amount of agreed equity, unless you have agreed otherwise in the arrangement. Check with your IP
Posted: Tue Jul 21, 2015 6:15 pm
by Adam Davies
Hi
Clarify this with your IP
Does the wording of your IVA allow for a third party lump sum of 10k instead of remortgage or extension ?
Regards
Posted: Wed Jul 22, 2015 9:03 am
by Michael Peoples
It does seems excessive unless there is more equity now than originally estimated. It does depend on the terms of your IVA.