www.iva.co.uk

I have been paying my IVA 5 years February 2014 and still paying it as I thought I could pay a further 12 months but now the IVA company are deciding if they will allow this is as I have a little equity in my property! probably around £15,000.00 they are going to make me remortgage through one of their credid finders to pay a lump sum.
I am at my wits end extremely depressed and scared of my future.

please please someone help me and tell me my rights if any.

Regards

Debbie

Hi Debbie. The answers to all of this will lie in your paperwork. What, exactly, does the equity release clause say ?

Are they making you remortgage, or, more likely, are they trying to make you take out a secured loan ( they are not the same thing!) ?

Have you had a professional valuation done and obtained a settlement figure from your mortgage lender, to correctly establish the amount of equity ?