Will I be expected to pay another year as I have little or no equity in my property ?

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Sally.88

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Post by Sally.88 » Wed Sep 10, 2014 7:57 am
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My iva is due to finish in august next year, after five years. I have very little, to no eqiuity in my property and may be in negative equity. Will I be expected to pay another year or will it all be completed after the 5 years is up ? I have built my hopes up that I have only 11 payments to make but am worried it will continue
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Foggy

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Location: United Kingdom
Post by Foggy » Wed Sep 10, 2014 8:22 am
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Hi Sally. It all depends upon what is written in your agreement, as they do differ.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Daviddw71

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Post by Daviddw71 » Wed Sep 10, 2014 2:39 pm
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We did not have enough equity and we did not have to pay an extra year's payments. As foggy says, check your agreement, or simply ask your supervisor.
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