Search found 7 matches

Search found 7 matches Page 1 of 1
by Shane.37
Tue Jan 09, 2018 6:41 pm
Forum: Ask IVA Forum and Industry experts
Topic: IVA 6th Year
Replies: 5
Views: 4311
I am afraid the extension year is at the usual monthly rate --- the 50% is the limit on the repayment figure for repaying a remortgage (which would be for the term of your current mortgage), not the extension (which is for 12 months). Thanks Foggy, however can you advise what the below means then? ...
by Shane.37
Tue Jan 09, 2018 5:50 pm
Forum: Ask IVA Forum and Industry experts
Topic: IVA 6th Year
Replies: 5
Views: 4311
Hi, hopefully someone can advise. I have been advised (6 months ago) that our joint 5 year IVA for the 6th year we would need to make the addition payments as we were unable to remortgage. Reading the below I understood that from January 2018 for myself and April 2018 for my wife we would need to ma...
by Shane.37
Mon Dec 04, 2017 6:44 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is it correct that I have to pay back more than my original debt ?
Replies: 8
Views: 6830
Hi Can you advise if when 100% of the debt to creditors after fees has been paid, do Payplan still have the right to ask for equity or an amount of cash if we are unable to remortgage? Totally stressed out........ Thanks in advance Topic merged. Yes, you still have to go through the equity release ...
by Shane.37
Sat Dec 02, 2017 11:08 am
Forum: Ask IVA Forum and Industry experts
Topic: Is it correct that I have to pay back more than my original debt ?
Replies: 8
Views: 6830
Hi

Can you advise if when 100% of the debt to creditors after fees has been paid, do Payplan still have the right to ask for equity or an amount of cash if we are unable to remortgage?

Totally stressed out........

Thanks in advance
by Shane.37
Sat Dec 02, 2017 10:54 am
Forum: Ask IVA Forum and Industry experts
Topic: Is it correct that I have to pay back more than my original debt ?
Replies: 8
Views: 6830
During an IVA you always owe the full original debt, plus fees and statutory interest (unless excluded). On a debt of around £17k, this would be about £27k over 5 years. So your IVA will continue until you hit that figure or the term comes to it's contractual end, at which time anything unpaid will...
by Shane.37
Sat Dec 02, 2017 9:52 am
Forum: Ask IVA Forum and Industry experts
Topic: Is it correct that I have to pay back more than my original debt ?
Replies: 8
Views: 6830
Hi my original creditors debt was 16823.88 and up to the 1st of Jan 2017 payments of 12549.91 had been distributed to the creditors leaving a balance of 4273.97. I have had confirmation that from Jan 2017 to date I have paid 5880.94 to Payplan of which 4552.38 has been paid to creditors. Based on th...

by Shane.37
Thu Feb 25, 2016 8:28 am
Forum: Ask IVA Forum and Industry experts
Topic: We are considering failing our IVA and going direct to our creditors. Any advice appreciated
Replies: 3
Views: 1688
We have been on an IVA for over 2 years, however our positions have changed (for the better) and we are therefore paying more into the IVA. Our issue is that at the start we had a debt of around 30k. 2.5 years in and we have paid around 32K. They are now asking for more and more as our wages increas...
Search found 7 matches Page 1 of 1