Msg for Foggy

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

rachael558

User avatar
Posts: 18
Joined: Tue Oct 20, 2020 7:38 pm

Post by rachael558 » Tue Jul 20, 2021 12:24 pm
hi message for foggy spoke to my iva and they said about 5 creditors are not accepting my husband’s health how can i get out of this can not re mortagae as have gone to part time work only as i have severe depression now ive asked a family friend to help pay off but they pulled out at last minute HELP my house is on interest only only have 2 years left my iva will go pass that

Foggy

User avatar
Forum Expert
Posts: 32769
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Jul 20, 2021 1:08 pm
Regarding the IVA itself ... can you afford to keep up the current payments ? As circumstances have changed, maybe your IP can consider a small reduction ( they can usually reduce by up to 15% without the need for creditors to agree.).

As for the mortgage I would advise a chat with a mortgage expert, preferably one with experience of IVA's. Try contacting either Ryan or Shaun -- their details can be found on their profile pages:

Ryan
memberlist.php?mode=viewprofile&u=18488

Shaun
memberlist.php?mode=viewprofile&u=22837
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

bowline

Posts: 14
Joined: Sun Aug 11, 2019 2:31 pm

Post by bowline » Wed Jul 21, 2021 7:26 am
Your IVA was set up when you had an IO mortgage ending within the term of the IVA?

What did the IVA firm say would happen at the end of the mortgage term? If they nothing, then this sounds like a very bad case of mis-selling to me. I would start by making a complaint in writing not on the phone. And ask for your IVA to be completed 'on the basis of funds paid to date' because (A) it was mis-sold as no one explained to you what would happen when your mortgage ended and (B) your husband's current major health problem.

Foggy

User avatar
Forum Expert
Posts: 32769
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Jul 21, 2021 7:59 am
Wed Jul 21, 2021 7:26 ambowline wrote:
Your IVA was set up when you had an IO mortgage ending within the term of the IVA?

What did the IVA firm say would happen at the end of the mortgage term? If they nothing, then this sounds like a very bad case of mis-selling to me. I would start by making a complaint in writing not on the phone. And ask for your IVA to be completed 'on the basis of funds paid to date' because (A) it was mis-sold as no one explained to you what would happen when your mortgage ended and (B) your husband's current major health problem.
A request for a full and final based on payments to date due to the health concerns has been refused. A formal complaint, expressing the possibility of escalation to regulators might prompt the IP to try harder.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”