Hi. We are currently on month 67 and have supposedly made our "last" payment on December 30th. Our 5 yrs was up In June time but have paid 6 month extra to cover holiday payment and extra in earnings.
I provided a mortgage statement in April 2017 (aaproaching end of yr 4)- nothing was done with it.
October 2018 (approx month 64) they requested anotjer mortgage statement - didnt hear anything again.
For the last 8 months every time I've spoke with them I have got them to confirm my last payment date and has always remained at 30th Dec.
Called them this week as unsure what happens once you have paid "last" payment and they said yes that was your last payment but your mortgage statement is being looked at and we will be in touch . Sooooo my pee'd off questions are .... can they do the mortgage bit so late on? I know that there is equity there but if I can't get the 're mortgage and have to do the 12 extra payments will they start them 12 payments from now @5.5yrs So I technically will still be paying to 6.5 yrs or can i only pay up to yr6? We have paid £555 per month to the iva so feel we are so close at getting to the finish line but the finish line is being pushed further away
Not good service at all. You need to keep on at them.
Do you have any equity? Who is your IP?
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
They should have dealt with the equity release at the correct time and, to be honest, you should have chased them for it -- it HAS to be dealt with even though late. The 12 extra payments, if that is the result, will start from now. Yes, you will be expected to make 78 payments in all ( 60 as originally set, plus 12 for equity and the 6 months for "arrears" due to extra income and payment breaks ).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Freeman Jones do have a rep who posts on here - hopefully he will pick up on this.
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
Thanks for the post. I am one of the team here at Freeman Jones. I apologise, it sounds like (at the very least) there has been a breakdown in communication here. Of course I can understand entirely why you want clarity over your equity position, so you know when your IVA will finally conclude.
I would like to investigate this for you - please drop me an email to ian.williams at freemanjones.com so I can pick this up on your behalf.
