Hi, I had an IVA with DFD, now Aperture. I paid my last payment in December 2018. Now Aperture are saying my IVA can’t be closed until I have released some equity in my property. I certainly don’t remember this being in my original contract. Is there a limited period between me paying last payment, and the IVA asking for Equity.
If you are a homeowner it will have been in your proposal -- it is a standard requirement. It should be done at month 54 and it is, at the ed of the day, your responsibility to see that it is done --- but Aperture should have been on the ball and prompted you. There is no time limit between getting this done and the last payment --- you are still in the IVA until it is completed formally, which will not happen until this is dealt with.
Dig out your paperwork and have a read, so you know what to expect.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Seems a little unfair it has taken 15 months to tell you this, but as foggy says releasing equity would be part of your agreement if a homeowner at the end of you it.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Were you given any reason for the delay in addressing the equity? And had you not chased them for completion of your last payment was in 2018?
Hi! I used to work for one of the UK's biggest Insolvency Practitioners - I don't work for an IP anymore but still have an extensive knowledge of the IVA industry. How can I help?
