Search found 13 matches

Search found 13 matches Page 1 of 1
by andrew460
Thu May 17, 2018 2:35 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
Just want it completed as soon as possible. The £5,453 is what's left at this point on the agreement (19 months @ £287) so Credit Fix are probably just sating that. I'll probably just let it continue on the £287 direct debit then see if a family member can help out towards Christmas and make an offe...
by andrew460
Wed May 16, 2018 12:27 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
I had an email form Credit Fix saying 'if you wish to make a full and final offer to your creditors the amount is £5,453, including the 12 months extension'.

It seems the equity release is worst case, followed by the 12 month extension and the best is to get a 3rd party to pay it off.
by andrew460
Wed May 16, 2018 9:35 am
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
I've had a F&F offer of £5,453 which I would imagine is 19 months (7 + 12 extended) remaining @ £287/month. So current options are: - Pay £5,543 via a 3rd party and the IVA would begin closure in November 18. - Extend the agreement by 12 months paying an additional £3,444 on top of the £2,009 st...
by andrew460
Wed May 16, 2018 8:36 am
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
Say I can re-mortgage and I have e.g. £10k in equity. Would they take the full £10k?
by andrew460
Tue May 15, 2018 3:48 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
Whose decision is it to extend it by 12 months? Can't imagine my IP fighting too hard for me.
by andrew460
Tue May 15, 2018 3:26 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
I feel like it is in Credit Fix's interest to keep it going as long as possible to take their cut!
by andrew460
Tue May 15, 2018 3:17 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
How many IVA's actually last 5 years (without any final payment etc.)? Seems like its just standard to extend it to 6 years. Is this the creditors decision or the IP's?
by andrew460
Tue May 15, 2018 2:58 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
Thanks for your prompt replies. It states in the letter that if the equity in my property is over £5,000 (which I believe it is) then I must try to release ALL the equity in the property. Does this mean just enough for a full and final payment (i.e around £3.5k (estimated)) or will they take it all?...
by andrew460
Tue May 15, 2018 2:18 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
If it is a payment extension, can it end up being more or less than 12 months or is 12 months the standard?
by andrew460
Tue May 15, 2018 12:29 pm
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
Hi Lisa I imagine I have over £5k equity however, I would expect it would be difficult to be accepted being in an IVA. Do I have to arrange a valuation myself as I gathered my IP would do this from the letter? I am also bought my house on a 'help to buy' scheme so only had to get a mortgage for 70% ...
by andrew460
Tue May 15, 2018 11:45 am
Forum: Ask IVA Forum and Industry experts
Topic: Is there another way to reduce or eliminate further 12 months of payment in iva
Replies: 25
Views: 5821
Hello I believed I was entering the final 6 months (5 years in Nov 18) of my IVA arrangement. I have just been told that they seek equity release in my property or extend the term by a further 12 months. Other than offering a lump sum form a 3rd party, is there any other way to reduce or eliminate a...
Search found 13 matches Page 1 of 1