Ellaollie64 wrote:Thank you for your reply, am waiting on a phone call back today to clarify things. No they’ve never asked for a valuation, first time they’ve been in touch with me about this was yesterday when I received letter advising they are extending Iva for a further 6 months to allow them time to look into seeing if we have equity in the house which upon checking we are around the £5k mark so possibly. Just really upset me to think we only had until Feb 19 to go (confirmed by them too when I called in September) and feel like as they haven’t done their job properly it has now been extended, just wondered how things stand with it being in s formal document stating they would look at a valuation at month 54 and were now in month 61 before they’ve decided to do anything.
There is very little comeback for IPs transgressions, if, indeed, this is --- look carefully at the wording in your own proposal: Many are worded such that it is your responsibility to carry out the valuation exercise ( I agree to ... this ... that .....and the other) and, at the end of the day, their fallback position is that it is your IVA and you should be driving.
Ellaollie64 wrote:we are around the £5k mark so possibly. .
Who is 'we'? Are you in an interlocking IVA with someone else?
Is the £5k the total equity or just for your share?
Is the property solely or jointly owned?
Have you obtained a recent valuaiton and a redemption statement to include interest and penalty charges to see if your share of equity is less than the £5k?
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