IVA approved yesterday with only a few mods

[Stoney Broke]

Hi Andy,

The mods were a increase from 75% to 85% of the equity in our house, The house to be re vaulued in year 4 which wasn't the case prior to the meeting the figures were based on a valuation completed during the IVA process. And 50% of overtime worked.
So not bad at all.

Stoney.[:D]

[iva experts]

Once again congratulations Stoney,

Thanks for posting your outcome.
Your modifications actually sound like the normal requirements when someone entering an IVA owns a house. Were you not told by your I.P that you would be expected to have a valuation in the 4th year?

Best Regards. IVA Experts

[Oliver]

Well done and all the best with everything in the future.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Adam Davies]

Hi
Standard mods,do you fully understand the equity release mod ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[iva_squirrel]

Hi,

It sounds like normal modifications. Congratulations and thanks for posting the outcome.

Regards,
Michelle P.

[Stoney Broke]

hi what i understand is house to be revalued any time in the four year then 85% of my equity is to be released as my husband is not in a iva does this sound correct.
I was told the current valuation would stand unless there where any mods.
stoney

[Adam Davies]

Hi
That sounds right.I would be surprised if they accept the current valuation in four years time though.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp