I am only nearly 12 months into my iva. I have a mortgage. I know I have equity. Would I be able to release equity from my house to pay off iva now? I know my credit will be bad for 6 years because of the iva but I dont really care about that. I would just love to get this iva paid off and move on with my life and start a fresh.
Would i even be able to remortgage while I'm on an iva? My credit score is bad now. It's going to be still bad in 4 years time when I will be told by iva people to try and remortgage. So I'm thinking, why dont I just try now to release equity and pay off and end iva early. I hope this makes sense.
Thank you in advance
Hi, I'm afraid you won't be able to release equity as your mortgage company will very likely refuse due to your credit. If you could find someone to help with a full and final offer you could finish early.
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