questions regarding my IVA and remortgaging
Posted: Sun Jul 10, 2022 3:13 pm
Hi, Im nearly two years into my IVA and i have a few questions which I'm struggling to find. firstly it might help if i tell you my situation. i have had a good read through the forum but find everyones circumstances to be different so its hard to get answers for different people etc
i started my IVA in nov 2020 after racking up £30k in debts I was 29yo when i first got signed (31 now) i have 4 kids and a mortgage that's in my name. initially my repayments were low due to being furlouged but i soon managed to up my payments to £500 a month and hopefully contributing more where I can.
my question is.. if i find that i can overpay more and manage to write off my remaining payments, which according to my IVA practitioner is standing at 26k, will I still be expected to remortgage my home? i would assume not because the amount owed has been payed? if i carried on paying £500 i would have paid 19k off that amount but I'm hoping that i can pay the full amount off to avoid remortgaging.
Also has anyone used hanover insolvency? i don't seem to have had a problem but I've read really bad stuff on the reviews?
I really don't want to remortgage as i want to wait until my report is clear after 6 years and look for a larger home. i have a good amount of equity in my house and i don't want to affect this.
i started my IVA in nov 2020 after racking up £30k in debts I was 29yo when i first got signed (31 now) i have 4 kids and a mortgage that's in my name. initially my repayments were low due to being furlouged but i soon managed to up my payments to £500 a month and hopefully contributing more where I can.
my question is.. if i find that i can overpay more and manage to write off my remaining payments, which according to my IVA practitioner is standing at 26k, will I still be expected to remortgage my home? i would assume not because the amount owed has been payed? if i carried on paying £500 i would have paid 19k off that amount but I'm hoping that i can pay the full amount off to avoid remortgaging.
Also has anyone used hanover insolvency? i don't seem to have had a problem but I've read really bad stuff on the reviews?
I really don't want to remortgage as i want to wait until my report is clear after 6 years and look for a larger home. i have a good amount of equity in my house and i don't want to affect this.