Hi, my 60th payment is in Sep 2010, like most I am expected to remortgage in the final year and release 75% of the equity. I have recently lost my job, I've managed to keep up the monthly payments but I don't think that I'll be able to remortgage in this position. Obviously after paying for 5 years I don't want to go bankrupt now or lose my house. Has any one got any ideas as to what course of action may be available to me.
Have you found another job Malcy67? have you informed your IP of your change in circumstance?
I'm sure there will be a resolution, avoiding bankruptcy or the loss of your house. Sometimes with a change in circumstance it's been know for creditors to accept what's been paid to date and conclude the IVA but I'm not a professional and you would need to speak with your IP.
Which company are you using?
One of our professionals will be along very soon to offer advice. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I've offered to pay the equivalent of 12 monthly payments up front ( money from a family member). This will give a dividend of 17p in the £ instead of the 48p expected in the original arrangement. The meeting is coming up soon, anyone think it'll get accepted?
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