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Posted: Sat Jul 16, 2016 7:46 pm
by Ali.k
i want to cancel because no one want to tell me what happens if i cant remortgage and the creditors dont expect the 12 mouths extra payments
Posted: Sat Jul 16, 2016 7:50 pm
by Foggy
What happens is what is detailed in the agreement. Creditors accept, these days, that you will not be able to remortgage and settle for the extension. However, some agreements ask for a secured loan instead.
Do you have any alternative solution in mind if you allow the IVA to fail ?
Posted: Sat Jul 16, 2016 9:22 pm
by kallis3
Agree with Foggy but need to know if you have had your creditor meeting?
Posted: Mon Jul 18, 2016 9:35 am
by Lisa Thomas
Hi Ali - do you mean if creditors don't 'ACCEPT' the final payments?
Creditors have already agreed to the extension as part of the proposals. So as long as your IP is satisfied that you can't remortgage the 12 month extension should apply. Creditors shouldn't have to vote again on this.