Finishing an iva now will not necessarily prove financially the best option for your creditors as they may get a higher return if the iva ran its duration through increased income, bonuses, overtime payments.
Even if they did allow you take the second mortgage option now it would not change the status on your credit record as the iva remains on there for 6 years from its start date.
Have you spoken to your IP or a caseworker ..you may get a better explanation going higher up the chain!
- How much are your monthly payments?
How many do you have left to pay?
How much is your share of equity in the property?
Are there any other assets due to be introduced in the IVA?
How much are you offering to pay over?
Have you asked to put forward a full and final offer or a settlement? These are two very different things and could be causing the confusion.
See my video here for details:
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