What will happen at the end of my IVA

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
User avatar
kerry837
Posts: 2
by kerry837 » Mon Jul 23, 2018 9:34 am
My Iva is due to end in December we have equity in our house . My exhusband has since lost his job. I have four children in a 3 bedroom house . We paid an extra year already as we asked for payments to go from 200 to 120 which we have kept up with .. what will happen with us
User avatar
Foggy
Forum Expert
Posts: 27512
Contact
by Foggy » Mon Jul 23, 2018 9:53 am
Equity will need to be looked at now, it should have been addressed last month and, if the equity release clause is triggered, you will need to try to release or, failing this, have another 12 month extension. If you are unable to continue with payments you could ask creditors to accept payments made to date as a full and final offer. But, if they refuse, the IVA will, most likely, be failed.

Which firm are you with ?
User avatar
kerry837
Posts: 2
by kerry837 » Mon Jul 23, 2018 5:23 pm
We are with knights bridge I phoned them today and asked for some details but to be honest they didn’t say much
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 25 guests