Fallenhero so would I been making a fuss and seeking legal advice if this happened otherwise what is the point, I might as well have gone bankrupt in the first place!
I can not understand why this it is in there. It certainly as not pointed out to me that there was a risk that I could go bankrupt if I did not raise the equity just that my IVA would be extended for 12 months.
Raising money by way of a secured loan has many advantages over a remortgage in some circumstances but as Melanie points out it depends on your individual circumstances. It doesn't bypass credit searches, there are just a few lenders who will consider lending to someone in order to settle their IVA.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
We have just started our 5th year and can see light at the end of the tunnel. We have over paid the minimum contractual amount by 10k already due to improved circumstances over the last 4 years. How can we buy ourselves out of the Iva without touching our equity and what sort of offer would we have to make?
At least you now know where you stand and have clarified everything -- best of luck with the extra 12 -- they will pass quickly as long as you don't dwell on them.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I am very glad to hear this fallenhero gives me hope. Although if mine is agreed my payments will increase by 50% at least it will only be for 12 months and I will keep my home.
