Hi this is my first time on your forum, I would be very grateful for some advice. I entered a IVA on April 2012 for 72 months. This wk i have received a letter from dfd telling me I have 14 days to provide them with my Mortgage statements of the last 6 months and secured loan redemption's statements. I can access the information they are asking for no problem.
At this stage do i have to get a estate agent to value my property ?
My property has equity but i very much doubt my bank will let me remortgage as they are one of the creditors i owe money too. I am stressing my self out with all the information I am reading.
My original debt was for £13,298.26. I am paying £100.00 a month . I have never missed a payment, I have also submitted all the PPI on the accounts I had, except for one which is running alongside my mortgage should i fall out of work, I have had Payment Protection Insurance on my mortgage from day, one It wasn't missold to me, I requested it the day my mortgage was in place , its a safety net as I am a single parent without this i simply wouldn't have been able to support mortgage payment when i fell out of work 5 years ago, luckily it was only for 5 months.
My Partner has offered to gift me £2000 which would cover the 72 months plus a year in lieu, I would be very grateful for any advice on how to approach the matter, I have tried to contact dfd but gave up after been
on hold for up an hour, would sending a email be better?
Your offer seems more than fair although DFD may still ask for a valuation. Given your payments to the IVA a remortgage sounds impossible as the increase would be capped at half your IVA payment so affordability wise it would not seem viable. Try a Zoopla/Mouseprice valuation or if DFD insist ask would they pay for one but email the offer and see how it goes.
As the offer is, effectively, admitting to there being equity I would think a valuation exercise would be a waste of time. Your offer sounds a fair one and I would email it direct to your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you Michael and Foggy for your quick reply, its been a long journey and I have learnt alot of lessons , never take your employment for granted, I was in a good paid job thought i was financially secure then in a blink of a eye it was gone..... Over the past few years I have learnt how to reduce my outgoings look for best deals.
I Account for ever penny, even though when i started the iva i had more funds, i.e child tax credits, child maintenance. when that all stopped I had to recalculate my finances.I never want to be in this situation again. If i want something save long and hard, do things the old fashioned way .
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