www.iva.co.uk

Hi I've been told to get a secured loan as I'm unable to get a remortgage at month 54 in my iva .

I've read my paperwork & it's say at month 54 I must try to remortgage to release some equity to pay a sum into my iva .

If unable to will more than likely extend by another 12 months .

At no point does it say must get a secured loan on my property .

Can my iva company do this ?

They want me to try to get a secured loan next week on my property

Please help .

They cannot force you to take a secured loan rather than a remortgage. They are not the same thing, which is recognised by the inclusion of secured lending in new protocols alongside remortgaging.

If your paperwork doesn't specify secured loan in the equity then they have no leg to stand on in trying to force you down that route, they may try bully tactics but hold out and don't let them dictate.

As the other 2 have said - if they cannot show where you agreed to a secured loan it cannot happen.