f&f advice

[Kiska]

i'm looking to do a f&f. decided to sell house and rent somewhere. have no attatchment to house whatsoever.

spoke to ip and she said that we must sell house before she can put forward the f&f. is that right?

i've seen on a post somewhere that you have got a year to pay the money and you stop paying iva in between.

as i am looking to rent somewhere this saved money would be saved as a great up front deposit. can anyone help me?

sorry i haven't posted for a while[V]

[MelanieGiles]

No - but she will no doubt expect you to continue to make your IVA payments up until the time you sell your property.

Are you struggling to make the payments, or just looking for an early way out? And you can ask to retian a sum of money from the house sale to meet your rental deposit and removal costs.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Kiska]

i've had house valued by estate agent and it was worth far more than i thought, hate living in house, want to move but want to get back on feet before applying for a mortgage again.

so can i set up a meeting for f&f?

[MelanieGiles]

You will need to ask your own IP that question Kiska - but I would be hopeful that this might work for you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Kiska]

she said itshould, just wondered how far down the line it would be before a meeting was called. thanks for the help

[MelanieGiles]

Again down to your individual IP, and generally ruled by the size of current workload, although it should not take more than three months. Get her to give you an anticipated timescale to see if that fits with your own plans.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[spenmotherhen]

Kiska just wondered if you have the 4th year clause? I am hoping to sell my house and end my IVA but I am being told that this may not be accepted as the creditors would want to wait for the equity release in the 4th year. Would love to know if you get accepted. What company are you with?
Thanks

[Kiska]

hi, i'm with freeman jones. they seem really good so far. when i asked ip, she said it was ok because the f&f would cover everything early. i'll wait till she gets back from hol and e-mail her just to check.