You never know how things are going to be in five years time MrsR.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It is the inconvenience and rejection I don't want! I'll take Melanie's advice as and when the time comes and hopefully get through it unscathed! Just doesn't appeal to me although I do realise it's a milestone in my journey x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Same here Lesley - really don't want to speak to my mortgage company and ask when I know they will say no.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
This is normal! As others on here have said if you have equity in your property that you can't release then it is fairly common to extend the arrangement by 12 months. However, this will depend on your personal circumstances and what was in the original proposal, any modifications and the Estimated Outcome.
Please do give your relationship manager a call and we'll be more than happy to chat it through.
IW
Last edited by Financial Wellness on Mon Nov 28, 2011 11:23 am, edited 1 time in total.
Hi Ian thank you are your reply, I appreciate that it is normal to extend by 12 months in lieu of equity, I don't think I worded my original post correctly.... I guess what I was asking was when the creditors meeting will be called as it states in my proposal that if equity can not be released then a creditors meeting would be called to consider the debtors (my) proposals. I tried calling my relationship manager today but he is out of the office until Thursday. Thanks x
Apologies for the delay in posting back - yesterday turned out to be 'one of those days'.
I am afraid that I can't give you a straight answer on this one. It really does depend on the exact terms of your IVA - and they do vary.
Any one of our Relationship Managers should be able to clear this up for you so please do give us a ring. Alternatively get in touch with me directly and I'll get this sorted for you.
