If I take an 'early exit loan', is the equity/year 6 written off ?

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annette667
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by annette667 » Thu Mar 30, 2017 4:44 am
My five year IVA is due to finish in September this year. I have sent a redemption statement to my IVA company & am awaiting an independent valuation of my property which I have arranged. Last week, my IVA company referred me to a finance company offering me an 'early exit loan' - 7 monthly payments of £200 in full & final settlement. Does this mean equity/year six is written off?
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Foggy
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by Foggy » Thu Mar 30, 2017 6:44 am
As yet they haven't even established if there is equity or a year six, so they are jumping the gun a little, but are presumably assuming there will be. There are pros and cons to these loans and each case must be looked at individually.
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