Are we at the end of our IVA?

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Brian.w

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Post by Brian.w » Thu May 24, 2018 6:15 am
Our IVA is 5 years old on 13th August 2018. We have not been asked to extend the IVA for another year as we originally thought might happen. No paperwork has been received to ask us to try and remortgage etc. Does this mean that on August 12th 2018 we are finally out of the IVA

Foggy

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Post by Foggy » Thu May 24, 2018 6:43 am
No --- the equity release investigations will still need to be made and the ommission will be discovered at closure, if not before. It is your responsibility to ensure that the terms you agreed to are carried out. If you have the equity release clauses, dig them out and have a read of what you have agreed to do.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Brian.w

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Post by Brian.w » Thu May 24, 2018 7:36 am
Reading the letter sent from Knightsbridge it states "The IVA was approved by your creditors on 6th August 2013.
The IVA has been registered.You have agreed to make the following monthly contributions out of income.
60 monthly payments of £120.00 Total £7,200.00."
I cannot find any reference to extending the IVA our equity release after the 5 years.

kallis3

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Post by kallis3 » Thu May 24, 2018 7:50 am
Give them a call just to clarify.
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

Foggy

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Post by Foggy » Thu May 24, 2018 8:06 am
Brian.w wrote:
Reading the letter sent from Knightsbridge it states "The IVA was approved by your creditors on 6th August 2013.
The IVA has been registered.You have agreed to make the following monthly contributions out of income.
60 monthly payments of £120.00 Total £7,200.00."
I cannot find any reference to extending the IVA our equity release after the 5 years.
It will be in the body of the actual proposal you signed. If you no longer have a copy then you need to request one from your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Thu May 24, 2018 9:01 am
If not in the proposal it will be in the supporting T&Cs.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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