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Posted: Tue Oct 26, 2010 5:02 pm
by willowstar18
We're at the end of year 4. We need to remortage for £3k(No chance). Have asked about variation to do extra six months (worth £8.5K) to avoid paying extra year. IVA company as telling us not to do it as 99% aren't accepted. Advised we could end up paying more. Advice please!
Posted: Tue Oct 26, 2010 5:23 pm
by Broke of London
You will never end up paying more than 100p/£ plus fees. Some proposals do not require a remortgage or any additional payments if there is less than five thousand in equity so check you proposal to se if this applies in your case.
Posted: Wed Oct 27, 2010 2:19 am
by MelanieGiles
What do the terms of your IVA state? If the equity is £3k and you can pay this ocer six months, then you do not need to pay for twelve.