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How do you release equity in your home at the end of IVA when your credit rating is down? I understand it will involve remortgaging the house, am I being stupid? And if I go on an IVA as the debts are all in my name, how will my husband get affected?

It is incredibly difficult, if not impossible at present Cassey - but you should check with your mortgage company to see if they will allow a further advance, and if not then perhaps have a chat with an IFA.

The most likely outcome, if you do have equity which would need to be raised, is to extend the IVA by a further year at the end of the term.

Hi

Mel do you think secured loans may replace remortgaging for final year IVAs in the years to come ?

Regards

andy what would be the difference as nobody would give you a loan without it being in the Wonga bracket for intrest.at least if the remortgage was possible it would not cost you in the long term.