Posted: Fri Aug 08, 2008 3:19 pm
After just starting our IVA I found I was prenant. After much negotiation it was agreed for us to sell our house and have a F&F. A F&F amount was agreed in Sept last year when we put our house on the market.
Due to current changes in the market and economy changes we have yet to sell our house despite dropping the price on various occasions.
We have a mtg of £95k, secured loan of £35k, F&F £24k.
Last week we had our annual report and was given a further 6 months to sell otherwise they are going to say that we have defaulted on the IVA agreement.
Our estate agents without knowing our financial situation have suggested we drop the property price by a further 10k
Our house is currently on the market for 159,995.
We simply can not do this as we require some money to pay our estate agents costs, moving costs and deposit for our rental home.
My question would then be, is there any chance of the creditors decreasing the F&F amount to give us more chance in selling our house to inturn repay them or do we have to just hope that we sell at our current price in the months we have left?? [V]
Due to current changes in the market and economy changes we have yet to sell our house despite dropping the price on various occasions.
We have a mtg of £95k, secured loan of £35k, F&F £24k.
Last week we had our annual report and was given a further 6 months to sell otherwise they are going to say that we have defaulted on the IVA agreement.
Our estate agents without knowing our financial situation have suggested we drop the property price by a further 10k
Our house is currently on the market for 159,995.
We simply can not do this as we require some money to pay our estate agents costs, moving costs and deposit for our rental home.
My question would then be, is there any chance of the creditors decreasing the F&F amount to give us more chance in selling our house to inturn repay them or do we have to just hope that we sell at our current price in the months we have left?? [V]