we are in the 4 year of our IVA and we have to try to increase out mortage for £10k,and our mortage company will not lend us any more.
One of our creditors has now requested that we now go down the bankruptcy route, can they do this ?
Its highly unlikely that you will be made bankrupt.
If you cant raise the funds for remortgage then a meeting of creditors would probably be called and either your IVA will be extended for a further year or it will conclude.
Check in your original chairmans report and see what exactly it says with regards to the final year remortgage.
Failing that, have a chat with your IP who should be able to put your mind at rest.
