Feeling ripped off

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
Post Reply

iain200

User avatar
Posts: 7
Joined: Fri Mar 30, 2018 12:38 pm
Post by iain200 » Mon Jun 17, 2019 4:59 pm
Quote
I have been unable to get a re mortgage but have been offered a loan by a company recommended by my Iva co, there fees are£5000 for a 26000 loan.
This was to release equity in my home but a year after my Iva finished. My Iva was for 72 months. If I accept I will have paid 50000 for a 30000 debt
I am feeling very ripped off now and can’t get out IVA despite paying wha I owed
Top

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Mon Jun 17, 2019 5:29 pm
Quote
OK -- first things first .... this is a secured loan, NOT a remortgage. If you have pre-2014 terms you do not have to accept a secured loan. They have been unable to get a remortgage so the 12 month extension applies.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top

luluj

User avatar
Forum Expert
Posts: 11333
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom
Post by luluj » Mon Jun 17, 2019 9:21 pm
Quote
Timescales of your iva may mean you are not captured under the most recent rulings ..check your proposal details as foggy suggests.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
Top

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am
Post by Lisa Thomas » Tue Jun 18, 2019 8:15 am
Quote
I would suspect the year extension applies.
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
Top
Post Reply
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”