Do I need to get another property valuation in year 6 of IVA?

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maureen876

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Post by maureen876 » Wed Jan 15, 2020 4:04 pm
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I am 5 months away from finishing my iva. I was unable to release equity in year 5 so have to make extra 12 months payments. My question is do I need to look at having another valuation in this my 6th year.
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Lisa Thomas

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Post by Lisa Thomas » Wed Jan 15, 2020 4:06 pm
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no you have extended in lieu of the equity so that should now be it. Otherwise there could (potentially) never be an end in sight!
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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Foggy

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Post by Foggy » Wed Jan 15, 2020 4:13 pm
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As Lisa says -- the equity question has been addressed and dealt with -- they only get the one bite at that particular cherry.
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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Shaun Vickery

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Post by Shaun Vickery » Thu Jan 16, 2020 11:37 am
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Unless there was something else was agreed at the time, the 12 month extension is usually applied as an alternative to releasing equity if you were unable to do so.
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