How do you release equity in your home at the end of IVA when your credit rating is down? I understand it will involve remortgaging the house, am I being stupid? And if I go on an IVA as the debts are all in my name, how will my husband get affected?
It is incredibly difficult, if not impossible at present Cassey - but you should check with your mortgage company to see if they will allow a further advance, and if not then perhaps have a chat with an IFA.
The most likely outcome, if you do have equity which would need to be raised, is to extend the IVA by a further year at the end of the term.
andy what would be the difference as nobody would give you a loan without it being in the Wonga bracket for intrest.at least if the remortgage was possible it would not cost you in the long term.
cc received 6th January 2014 now upwards and onwards
