Will IVA company check mortgage in sixth year?

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john582

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Post by john582 » Tue Feb 25, 2020 1:58 pm
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I am going into my sixth year of IVA in July.

Would my IVA company check how much is left on my mortgage at the end of the sixth year or would it just be my income that is reviewed then?
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Foggy

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Post by Foggy » Tue Feb 25, 2020 2:13 pm
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Why the 6th year ? Was 6 years agreed at the start or it this an extension in lieu of equity ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Shaun Vickery

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Post by Shaun Vickery » Thu Feb 27, 2020 11:21 am
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The exact process will depend on which IVA firm you are with but you should remember that the obligation to look at equity in your property is technically yours.
As Foggy says I'd be interested to understand the position regarding the sixth year. Was this agreed because you were unable to release equity or perhaps you are just continuing to make payments until this is addressed?
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