Why bother to try to remortgage?

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kallis3

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Post by kallis3 » Tue Sep 28, 2010 2:29 pm
It will be 12 months payments at the normal monthly rate.
Sharing from experiences of dealing with debt
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Sensible77

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Post by Sensible77 » Thu Sep 30, 2010 1:25 pm
I’ve received an e-mail from PayPlan saying that as I’ve shown that I’m unable to get a remortgage they will arrange a creditors meeting to extend my payments by a further 12 months. Fingers crossed!
 
 

kallis3

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Post by kallis3 » Thu Sep 30, 2010 1:31 pm
Fingers crossed here as well!
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
 
 

Pennyless

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Post by Pennyless » Thu Sep 30, 2010 1:37 pm
Good look Sensible.

Steviebluenose dont forget if you have a single IVA (either husband or wife) and the mortgage is in both names then only half the equity minus 25% is actually your available equity for release. However, as others have said even with a decent credit record getting a mortgage is like finding hens teeth but if you have an IVA next you your name they wont even offer you a seat.
I came into this world with nothing and still have most of it left!
 
 

Sensible77

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Post by Sensible77 » Thu Sep 30, 2010 6:51 pm
Thanks for everybody's support. I don't know how long it will be until I hear the outcome but I'll post as soon as I know.
 
 

Sensible77

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Post by Sensible77 » Mon Oct 18, 2010 1:18 pm
I haven’t heard anything from Payplan as I realise that these things tend to take a while. Just out of interest, I logged onto Justabank, PayPlan’s online service, to be greeted with a note on the front screen saying: “Information required for creditors meeting. We need some more information from you, to prepare the papers for your next variation meeting. The meeting cannot take place until we receive this information. Please call …”

I hope this has only appeared today as I seldom access Justabank. I cannot contact PayPlan by phone as it is not possible to call from work and they are only open between 9 & 5 Monday to Friday. I have e-mailed PayPlan to ask what they require as well as asking them if they were going to contact me by letter or e-mail requesting this information.
 
 

kallis3

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Post by kallis3 » Mon Oct 18, 2010 4:33 pm
You would have thought that they would have written to you as well!

I seldom visit Justabank so wouldn't know if they wanted me to contact them.

Is it not possible for you to nip out in your lunchbreak and use your mobile?
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
 
 

Sensible77

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Post by Sensible77 » Mon Oct 18, 2010 6:55 pm
I got an e-mail back from my case worker at PayPlan. I can’t fault then for replying to my e-mails promptly! She said that they don’t require any information from me at the moment but she didn’t make any reference as to why the message was on Justabank. Anyway, it’s put my mind at rest.
I have tried previously to contact them on my mobile but it’s a PAYG and I’m always conscious of the cost. Also, my lunch break always seems to coincide with my case worker’s!
 
 

kallis3

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Post by kallis3 » Mon Oct 18, 2010 7:05 pm
Glad she got back to you and at least it's put your mind at rest.
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
 
 

Sensible77

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Post by Sensible77 » Sat Oct 30, 2010 11:06 am
Just an update – I got a call from my case worker earlier this week to say that they are now ready to send out the circular to my creditors requesting the removal of the equity release clause and it being replaced with a 12 month extension. I had to update my income & expenditure to make it current, (there weren’t any changes). I have received a copy of the circular that will be sent to my creditors which I need to sign and return to PayPlan. I’ve copied it and returned it. I asked my case worker what sort of time scale I would be looking at to receive an answer and she said it should be within 28 days of my creditors receiving the circular.
 
 

Shining

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Post by Shining » Sat Oct 30, 2010 11:09 am
All the best and hope you receive the answer you're looking for very soon. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Sat Oct 30, 2010 11:16 am
Fingers crossed. Let us know how you get on.
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
 
 

kianrio

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Post by kianrio » Sat Oct 30, 2010 11:32 am
I also have the fourth year cause I have to raise £10000 by way of a remortgage which as everyone knows is impossible but I am reluctant to let my current mortgage company know I am in an IVA, also my arrangement does not say I will have to extend by 12 months, it states if a remorgage cannot raise the money a creditors meeting will be called.
 
 

kallis3

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Post by kallis3 » Sat Oct 30, 2010 12:01 pm
Your mortgage company will know about the IVA as the IP has to tell them once it is approved.
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
 
 

Sensible77

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Post by Sensible77 » Thu Nov 04, 2010 7:44 pm
I received a letter from PayPlan today informing me that a creditor's meeting has been set for 3 December at 11am. It takes me back to the start of my IVA. I'm already starting to feel a bit anxious which is daft as there’s nothing I can do to influence this. I hope the next 4 weeks go quickly!
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