Our IVA is 5 years old on 13th August 2018. We have not been asked to extend the IVA for another year as we originally thought might happen. No paperwork has been received to ask us to try and remortgage etc. Does this mean that on August 12th 2018 we are finally out of the IVA
No --- the equity release investigations will still need to be made and the ommission will be discovered at closure, if not before. It is your responsibility to ensure that the terms you agreed to are carried out. If you have the equity release clauses, dig them out and have a read of what you have agreed to do.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Reading the letter sent from Knightsbridge it states "The IVA was approved by your creditors on 6th August 2013.
The IVA has been registered.You have agreed to make the following monthly contributions out of income.
60 monthly payments of £120.00 Total £7,200.00."
I cannot find any reference to extending the IVA our equity release after the 5 years.
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Brian.w wrote:Reading the letter sent from Knightsbridge it states "The IVA was approved by your creditors on 6th August 2013.
The IVA has been registered.You have agreed to make the following monthly contributions out of income.
60 monthly payments of £120.00 Total £7,200.00."
I cannot find any reference to extending the IVA our equity release after the 5 years.
It will be in the body of the actual proposal you signed. If you no longer have a copy then you need to request one from your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
