Hi, I have just completed 5 years of my IVA (June 2016), The IVA company has not stopped taking the fees for July & August so all ties up there. I have just received a letter stating to produce a Mortgage statement for the equity, while I know about this clause it is in my original agreement that this montage valuation should have been obtained in month 54, not 62. Is this normal practice, can they still request this even though they failed to do it on time?
Many thanks.
Have you checked the terms of your proposal? In mine, and many others from comments on here, you were obliged to get the valuations and mortgage redemption, not your IP. If this was the case then technically, you are in breach if you haven't done so. If it's an oversight and it was for yourIP to aarrange then you have to comply.
Relieved is correct - it is down to you to get the refusals and valuation although they should have reminded you (mine did).
How long is your IVA due to run for if you are on month 62?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I am afraid you do have to comply. Even if, as said above, the arrangement details do not put the onus upon you specifically, it is still your responsibility to make sure things are done as per the agreement. At the end of the day it is your IVA, not that of your IP -- who is a supervisor only.
Last edited by Foggy on Wed Aug 31, 2016 6:42 pm, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Just to add relieved - I was referring to Landt99, not your IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
