No with ours it is definitely 5k each, i have checked.

Michael,

What would happen if your property was worth 150k and your mortgage was for say 139k, you couldn't remortgage because not at 85%, but would the iva still be extended because of being over 5k each?

Thank you

It just amazes me how all IVA companies are allowed to interpret the same information differently. Surely it should be interpreted the same for every case?

Thank you. I have contacted them today and they are saying it's right. My proposal says if my share in the property is less than £5000 gross then the property will be excluded and no extension required? After working out the 85% LTV there was just over 9k left between myself and my husband, so less ...

Does anyone know how Cleardebt use the equity release clause. Ours has been extended with only 4k equity after 85% LTV they are saying it is anything over 5k at 100% LTV to extend? Ours is a protocol compliant IVA.

Hi Mole, We will be unable to claim this though cause my husband has now found a job. I don't know whether it would have been better to find a job later on & keep 6 months redundancy to tide us over. My husband didn't want to be unemployed though cause he never has been before. He also had to fight ...

Hi Andy, Will he be able to keep six months though, because he has already got a new job? I just thought that you got to keep six months whilst you looked for new employment? Just worried how we will be able to pay £600 a month when his new wages start in September, if the new wage isn't taken into ...

Hi, we are currently in a joint iva (year 5), but extended for another year because of a little equity in our property. My hysband was made redundant yesterday, we had informed our iva company that this was going to happen. My question is that my husband has managed to find a new job, which he start...

Hi Michael,

I have just checked our proposals & it says if our share of the equity is 5k or above then we will have to extend the term or try & remortgage. The 85% LTV IS also in there but nothing about the 5k being after the 85%. So i am thinking tha the 5k is at 100%?

I have been told today that our iva will be extended by another 12 months due to equity in our property. Property value 120,000 Mortgage & secured loan 93,000 = 27,000 equity But i have worked this out with the 85% LTV & there is only 8,500 equity left in interlocking iva's? Shouldn't the 5k diminis...

I had a letter in July last year off my secured loan provider saying that they had sent a cheque for ppi misselling direct to our iva firm.


Shouldn't that show on my annual report somewhere?

Because it doesn't?

Thanks

I have already e mailed him Michael on Saturday. No reply yet. Received a letter off their complaints department today acknowledging my complaint though. I will just send the arrears that my husband owes apparantly in our next payment, because i don't want them saying that we haven't complied or som...

Still in limbo. Not even an acknowledgement to the e mails that i sent over the weekend.

I have e mailed a complaint through to their complaints department, because i think this service is awful. They are showing no compassion to their clients at all! Iva's are very stressful & surely they should try to make you feel better & put your mind at ease. A couple of years ago we had an argume...

No Michael i don't understand it either, but i can't do anything about it because they'll say that i haven't complied to their rules or something? I am waiting for that one. I do think that everything should be a lot more transparent and that all firms should follow the same rules, because posts on ...