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Posted: **Thu Aug 30, 2007 8:29 pm**

When we entered an IVA 13 months ago we had £60,000 equity but were not finacially able to remortgage. A clause was added about the equity to be released in the fourth year. Now that our circumstances have changed we have thought about remortgaging and paying all the debts. Is this a good route to go down and would the IP accept this as we will be paying every penny back? We would not have to use all the equity to do this. Many thanks.

Posted: **Thu Aug 30, 2007 8:40 pm**

Hi Sandy and welcome to the forum

If you mean that you will be paying 100p in the £ ie a full repayment, then I would have thought that your IP and the creditors would snap your hands off.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Fri Aug 31, 2007 8:05 am**

Hi Sandy and welcome to the forum, we have remortgaged lots of people in a very similar situation and have never had any problems with the proposal not being accepted.

FREE ADVICE IS THE BEST ADVICE

Mortgage Broker
Specialising in adverse credit.

See feedback and testimonials at: http://www.leybridge.com/testimonial.php

Posted: **Fri Aug 31, 2007 9:51 am**

Hi Sandy,

I think this is definitley worth discussing with your I.P, was anything mentioned at your annual review? I definitley think that your creditors would be interested in you paying back 100p/£.

Best Regards. IVA Experts

Posted: **Fri Aug 31, 2007 10:17 am**

If you have the ability to do this I think both your IP and your Creditors will be more than happy to assist in you finishing your IVA early.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Posted: **Fri Aug 31, 2007 11:22 am**

Hi Sandy

I believe you IP will be more than happy if you can raise this money to pay your creditors back and finish your IVA early.

Regards,
Michelle P.

Posted: **Fri Aug 31, 2007 3:05 pm**

Many thanks for your quick reply. Am I right in thinking that we will just have to pay all the outstanding debts plus the fees for the IP. We won't have to pay all the equity to them.

Posted: **Fri Aug 31, 2007 3:11 pm**

Correct - and perhaps statutory interest, depending upon the terms of your IVA.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk