If I have to pay extra 12 months will a lump sum be accepted. I don't have a year left in UK.

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Bruce.c

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Post by Bruce.c » Fri Jul 31, 2015 10:12 pm
Hi all, I have paid freeman Jones for five years they should have tried to remorgage my property 3 months before the five year end they didn't , it's now five years and two months .direct debit stopped end of May, it's now July , now they are trying to get another twelve months payment from me because their valuation say I have just over £5300 equity . If it work out I have to pay will they accept lump sum check if relatives abroad wants to pay due to me not having a year left in UK
 
 

Foggy

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Post by Foggy » Fri Jul 31, 2015 10:21 pm
It is possible to pay with a lump sum. Whether you have to pay the extension will rest entirely on the amount of equity available and the delay will have no bearing on the matter. With such a close thing, if you get your own valuation under the £5k, they might agree that no extension applies.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Steven Hewitt

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Post by Steven Hewitt » Mon Aug 03, 2015 11:18 am
Hi Bruce.c,

I'm aware that my colleague Spencer has replied to your comments on your other post http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=72378

Just to clarify, we are happy for you to provide an alternative valuation of your property.

We are also happy to consider a lump sum payment should this be acceptable to creditors.

I know that my colleague who spoke to you has advised of the above and we are currently waiting for further details from you. If you need our assistance in this process then please email me directly at contactus@freemanjones.co.uk.

Thank you
Steven Hewitt - a member of the team at Freeman Jones
 
 

Helen.k

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Post by Helen.k » Mon Aug 03, 2015 12:25 pm
we paid £50 for a local estate agent to value the property, as we had £5131 equity. The new valuation brought us in under £5k so the extra year was cancelled. best £50 I've ever spent!
getting there ....

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