www.iva.co.uk

I am just over two years in to my IVA and was told from the offset that at any time through out the IVA I could make a offer for full and final settlement, can I legally release equity from my property to make a settlement offer?

Hi and welcome,

You are highly unlikely to be able to remortgage whilst in your IVA. If you can find someone to help you with a full and final then that's ok.

thanks for the quick reply,its just when i asked my superviser she was all for it then she asked my IP he said it was unethical

You can try and remortgage but I've not known of anyone that has been able to do that.

Why? It is perfectly sensible if you can manage to find someone to lend you the money, however on that front I think you could be disappointed. At the end of the day, if an offer is to be put to your creditors, it is really their decisiom and not that of your IP.

thanks for the quick replys,i thought it was a pretty reasonable request when i put it to my supervisor and so did she until she put it to my IP . In all honesty the amount i would have to borrow on top of my mortgage would probably be less than my monthly iva